Centuri (NYSE:CTRI) Director Charles Patton Buys 11,000 Shares of Stock

Centuri Holdings, Inc. (NYSE:CTRI) Director Charles Patton purchased 11,000 shares of the business’s stock in a transaction on Wednesday, November 11th. The shares were acquired at an average price of $22.72 per share, with a total value of $249,920.00. Following the purchase, the director owned 40,309 shares of the company’s stock, valued at approximately $915,820.48. This trade represents a 37.53% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Centuri Price Performance

CTRI traded down $0.44 during midday trading on Friday, reaching $21.81. 1,416,159 shares of the company’s stock were exchanged, compared to its average volume of 2,128,472. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.88. The business has a 50-day simple moving average of $20.50 and a two-hundred day simple moving average of $26.95. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of 38.95, a price-to-earnings-growth ratio of 0.77 and a beta of 0.94. Centuri Holdings, Inc. has a one year low of $18.50 and a one year high of $42.99.

Centuri (NYSE:CTRI) last released its quarterly earnings data on Thursday, November 5th. The company reported $0.42 earnings per share for the quarter, beating 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 company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period in the prior year, the company posted $0.19 EPS. The company’s revenue was up 40.2% compared to the same quarter last year. As a group, research analysts predict that Centuri Holdings, Inc. will post 0.58 EPS for the current year.

Centuri News Roundup

Investors following CTRI have been watching these news items:

• Positive Sentiment: Director Anne L. Mariucci bought 4,545 shares for about $100,000, increasing her stake by 5.07%. The purchase may signal confidence, though it is small relative to Icahn’s sales. SEC filing
• Neutral Sentiment: Recent operating results provide a positive fundamental backdrop: Centuri reported quarterly EPS of $0.42 versus a $0.23 consensus estimate, while revenue rose 40.2% year over year. The article also reports a consensus analyst rating of “Hold.”
• Negative Sentiment: Icahn sold about 1.5 million shares across transactions from November 9–12, including 324,700 shares on November 12. Although he still held more than 12 million shares afterward, the repeated selling—at prices ranging from $17.50 to $21—may raise concerns about near-term supply and confidence. Insider trading report

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Wells Fargo & Company dropped their price objective on Centuri from $28.00 to $24.00 and set an “overweight” rating for the company in a research note on Friday, November 6th. Wall Street Zen cut Centuri from a “buy” rating to a “hold” rating in a report on Monday, July 20th. Robert W. Baird reduced their target price on shares of Centuri from $33.00 to $26.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 29th. Weiss Ratings raised shares of Centuri from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, November 9th. Finally, Cantor Fitzgerald upped their target price on shares of Centuri from $35.00 to $36.00 and gave the stock an “overweight” rating in a report on Wednesday, August 19th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $27.50.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Hill City Capital LP grew its position in Centuri by 5.0% during the 3rd quarter. Hill City Capital LP now owns 4,230,000 shares of the company’s stock worth $84,769,000 after acquiring an additional 200,000 shares during the last quarter. Reinhart Partners LLC. bought a new position in Centuri in the 3rd quarter valued at $76,741,000. Renaissance Technologies LLC raised its position in Centuri by 11.5% in the 1st quarter. Renaissance Technologies LLC now owns 934,300 shares of the company’s stock valued at $27,291,000 after purchasing an additional 96,600 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Centuri by 46.2% in the first quarter. Dimensional Fund Advisors LP now owns 890,022 shares of the company’s stock worth $25,998,000 after purchasing an additional 281,264 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Centuri during the second quarter worth $23,153,000.

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.