Centuri Holdings, Inc. (NYSE:CTRI) Receives Average Recommendation of “Hold” from Brokerages

Centuri Holdings, Inc. (NYSE:CTRI) has earned an average recommendation of “Hold” from the six analysts that are currently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $26.40.

A number of research analysts have commented on the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Centuri in a research report on Monday, December 29th. JPMorgan Chase & Co. upped their target price on shares of Centuri from $20.00 to $22.00 and gave the stock an “underweight” rating in a research note on Thursday, November 6th. UBS Group boosted their target price on Centuri from $22.00 to $24.00 and gave the stock a “neutral” rating in a research report on Thursday, November 13th. Wells Fargo & Company boosted their target price on shares of Centuri from $25.00 to $30.00 and gave the company an “overweight” rating in a research note on Wednesday, January 7th. Finally, Cantor Fitzgerald initiated coverage on Centuri in a report on Friday. They issued an “overweight” rating and a $34.00 target price on the stock.

Insider Activity at Centuri

In related news, major shareholder Carl C. Icahn bought 3,488,372 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The stock was bought at an average cost of $21.50 per share, with a total value of $74,999,998.00. Following the completion of the purchase, the insider owned 14,336,044 shares of the company’s stock, valued at approximately $308,224,946. The trade was a 32.16% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Christian Brown sold 7,108 shares of the business’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $24.51, for a total value of $174,217.08. Following the transaction, the chief executive officer directly owned 22,089 shares in the company, valued at approximately $541,401.39. This represents a 24.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On Centuri

Hedge funds have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Centuri by 13,385.7% in the third quarter. Caitong International Asset Management Co. Ltd now owns 1,888 shares of the company’s stock valued at $40,000 after purchasing an additional 1,874 shares during the period. Amalgamated Bank boosted its stake in Centuri by 288.1% in the third quarter. Amalgamated Bank now owns 2,278 shares of the company’s stock valued at $48,000 after acquiring an additional 1,691 shares in the last quarter. CWM LLC increased its position in Centuri by 238.1% during the 2nd quarter. CWM LLC now owns 2,688 shares of the company’s stock valued at $60,000 after buying an additional 1,893 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Centuri by 121.7% during the second quarter. Tower Research Capital LLC TRC now owns 5,532 shares of the company’s stock worth $124,000 after acquiring an additional 3,037 shares during the last quarter. Finally, State of Alaska Department of Revenue acquired a new position in shares of Centuri during the third quarter valued at about $119,000.

Centuri Stock Performance

NYSE CTRI opened at $28.39 on Friday. The firm has a market cap of $2.83 billion, a P/E ratio of 946.65, a price-to-earnings-growth ratio of 1.06 and a beta of 0.82. The company’s 50 day moving average is $24.98 and its 200-day moving average is $22.38. Centuri has a 12-month low of $14.45 and a 12-month high of $28.75. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 1.54.

Centuri (NYSE:CTRI) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.13). Centuri had a net margin of 0.09% and a return on equity of 6.37%. The firm had revenue of $848.55 million during the quarter, compared to the consensus estimate of $762.06 million. During the same quarter last year, the business posted $0.06 earnings per share. Centuri’s revenue was up 18.1% compared to the same quarter last year. Sell-side analysts predict that Centuri will post 0.25 earnings per share for the current year.

Centuri Company Profile

Centuri Construction Group, Inc (NYSE: CTRI) is a heavy civil contractor specializing in water and wastewater infrastructure projects. The company delivers end-to-end services encompassing design-build, engineering, procurement and construction for water transmission mains, wastewater force mains, treatment facilities, pump and lift stations, and stormwater management systems.

Centuri’s core offerings include pipeline installation and rehabilitation, civil sitework, earthwork, structural concrete and slope protection.