Empyrean Capital Partners LP Purchases New Shares in Centuri Holdings, Inc. $CTRI

Empyrean Capital Partners LP purchased a new stake in shares of Centuri Holdings, Inc. (NYSE:CTRI) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 578,000 shares of the company’s stock, valued at approximately $14,594,000.

A number of other hedge funds also recently bought and sold shares of CTRI. Caitong International Asset Management Co. Ltd raised its stake in Centuri by 13,385.7% during 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 in the last quarter. CWM LLC raised its stake in shares of Centuri by 59.7% in the fourth quarter. CWM LLC now owns 4,045 shares of the company’s stock valued at $102,000 after acquiring an additional 1,512 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of Centuri by 121.7% in the second quarter. Tower Research Capital LLC TRC now owns 5,532 shares of the company’s stock valued at $124,000 after acquiring an additional 3,037 shares during the period. Ameritas Investment Partners Inc. raised its stake in shares of Centuri by 251.0% in the third quarter. Ameritas Investment Partners Inc. now owns 6,083 shares of the company’s stock valued at $129,000 after acquiring an additional 4,350 shares during the period. Finally, Fifth Lane Capital LP purchased a new stake in shares of Centuri in the third quarter valued at $212,000.

Analyst Ratings Changes

Several brokerages have recently weighed in on CTRI. Robert W. Baird set a $41.00 target price on shares of Centuri in a research note on Friday, May 8th. Wells Fargo & Company increased their target price on shares of Centuri from $32.00 to $37.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Wall Street Zen raised shares of Centuri from a “hold” rating to a “buy” rating in a research note on Sunday. Cantor Fitzgerald increased their target price on shares of Centuri from $37.40 to $46.00 and gave the company an “overweight” rating in a research note on Monday, May 11th. Finally, JPMorgan Chase & Co. increased their target price on shares of Centuri from $26.00 to $29.00 and gave the company an “underweight” rating in a research note on Friday, May 8th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $37.80.

Centuri Trading Down 3.6%

CTRI stock opened at $29.98 on Thursday. The company has a market capitalization of $3.03 billion, a PE ratio of 88.18, a P/E/G ratio of 1.07 and a beta of 1.06. Centuri Holdings, Inc. has a 12 month low of $19.04 and a 12 month high of $42.99. The firm’s 50-day moving average is $32.35 and its 200 day moving average is $29.66. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.88 and a quick ratio of 1.88.

Centuri (NYSE:CTRI) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.05. The company had revenue of $688.69 million for the quarter, compared to the consensus estimate of $618.87 million. Centuri had a net margin of 0.98% and a return on equity of 5.64%. The firm’s revenue was up 31.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.12) EPS. On average, research analysts anticipate that Centuri Holdings, Inc. will post 0.59 EPS 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.