Centuri (NYSE:CTRI) Upgraded at Cantor Fitzgerald

Centuri (NYSE:CTRI) was upgraded by research analysts at Cantor Fitzgerald to a “strong-buy” rating in a research report issued on Friday,Zacks.com reports.

Several other research firms have also recently commented on CTRI. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Centuri in a report on Monday, December 29th. UBS Group upped their target price on Centuri from $22.00 to $24.00 and gave the company a “neutral” rating in a report on Thursday, November 13th. Wells Fargo & Company lifted their price target on Centuri from $25.00 to $30.00 and gave the stock an “overweight” rating in a report on Wednesday, January 7th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Centuri from $20.00 to $22.00 and gave the company an “underweight” rating in a research report on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $26.40.

Centuri Stock Performance

NYSE:CTRI opened at $28.45 on Friday. The company has a market cap of $2.83 billion, a P/E ratio of 948.58, a P/E/G ratio of 1.07 and a beta of 0.82. Centuri has a twelve month low of $14.45 and a twelve month high of $28.89. The company’s 50-day moving average price is $25.13 and its 200-day moving average price is $22.43. The company has a current ratio of 1.67, a quick 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 business had revenue of $848.55 million during the quarter, compared to analyst estimates of $762.06 million. During the same quarter in the previous year, the company posted $0.06 EPS. The firm’s revenue was up 18.1% on a year-over-year basis. On average, sell-side analysts forecast that Centuri will post 0.25 earnings per share for the current fiscal year.

Insider Buying and Selling at Centuri

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

Institutional Investors Weigh In On Centuri

A number of institutional investors and hedge funds have recently made changes to their positions in CTRI. Caitong International Asset Management Co. Ltd boosted its position in shares of Centuri by 13,385.7% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,888 shares of the company’s stock worth $40,000 after purchasing an additional 1,874 shares during the period. Amalgamated Bank lifted its stake in Centuri by 288.1% during the third quarter. Amalgamated Bank now owns 2,278 shares of the company’s stock worth $48,000 after purchasing an additional 1,691 shares in the last quarter. CWM LLC lifted its stake in Centuri by 238.1% during the second quarter. CWM LLC now owns 2,688 shares of the company’s stock worth $60,000 after purchasing an additional 1,893 shares in the last quarter. State of Alaska Department of Revenue purchased a new position in shares of Centuri during the third quarter worth $119,000. Finally, Tower Research Capital LLC TRC grew 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 buying an additional 3,037 shares in the last quarter.

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.