Insider Selling: Centuri (NYSE:CTRI) Major Shareholder Sells 374,430 Shares of Stock

Centuri Holdings, Inc. (NYSE:CTRI) major shareholder Carl Icahn sold 374,430 shares of Centuri stock in a transaction that occurred on Tuesday, November 10th. The shares were sold at an average price of $21.00, for a total value of $7,863,030.00. Following the sale, the insider directly owned 13,336,044 shares in the company, valued at approximately $280,056,924. The trade was a 2.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Centuri Stock Down 1.8%

Shares of CTRI stock traded down $0.40 during midday trading on Thursday, reaching $22.26. 1,090,991 shares of the stock were exchanged, compared to its average volume of 2,267,578. Centuri Holdings, Inc. has a 1 year low of $18.50 and a 1 year high of $42.99. The company’s 50 day moving average is $20.48 and its two-hundred day moving average is $26.99. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.88. The firm has a market cap of $2.25 billion, a PE ratio of 39.74, a price-to-earnings-growth ratio of 0.78 and a beta of 0.94.

Centuri (NYSE:CTRI) last announced its earnings results on Thursday, November 5th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.19. Centuri had a return on equity of 8.26% and a net margin of 1.45%. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the prior year, the company earned $0.19 EPS. The business’s revenue was up 40.2% compared to the same quarter last year. On average, equities research analysts predict that Centuri Holdings, Inc. will post 0.58 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. lowered their target price on shares of Centuri from $23.00 to $22.00 and set an “underweight” rating for the company in a report on Monday, October 19th. Robert W. Baird cut their price target on Centuri from $33.00 to $26.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 29th. Bank of America reduced their price objective on Centuri from $33.50 to $21.00 and set an “underperform” rating for the company in a research report on Friday, September 4th. Wall Street Zen cut Centuri from a “buy” rating to a “hold” rating in a research note on Monday, July 20th. Finally, Cantor Fitzgerald lifted their price objective on Centuri from $35.00 to $36.00 and gave the company an “overweight” rating in a research note on Wednesday, August 19th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $27.50.

Hedge Funds Weigh In On Centuri

Hedge funds have recently bought and sold shares of the company. Horizon Kinetics Asset Management LLC grew its position in Centuri by 10.1% during the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 105,751 shares of the company’s stock valued at $2,119,000 after purchasing an additional 9,708 shares during the last quarter. Landscape Capital Management L.L.C. bought a new stake in Centuri during the 3rd quarter valued at about $260,000. Norwood Investment Partners LP raised its holdings in Centuri by 24.8% in the third quarter. Norwood Investment Partners LP now owns 377,000 shares of the company’s stock worth $7,555,000 after buying an additional 75,000 shares during the last quarter. William Blair Investment Management LLC raised its holdings in Centuri by 20.4% in the third quarter. William Blair Investment Management LLC now owns 786,079 shares of the company’s stock worth $15,753,000 after buying an additional 133,383 shares during the last quarter. Finally, Fifth Third Bancorp raised its holdings in Centuri by 99.4% in the third quarter. Fifth Third Bancorp now owns 1,340 shares of the company’s stock worth $27,000 after buying an additional 668 shares during the last quarter.

About Centuri

Centuri Holdings, Inc. is a North American utility infrastructure services company that builds, maintains and upgrades systems used to deliver natural gas and electricity. Its work includes installing and replacing underground gas pipelines, constructing and maintaining electric distribution infrastructure, and providing related inspection, repair and emergency-response services. The company serves regulated utilities and other energy customers across the United States and Canada. Its operating businesses include NPL Construction, Neuco, Linetec Services and Riggs Distler, which provide capabilities spanning gas distribution, electric utility construction and broader infrastructure work.