Centuri (NYSE:CTRI) Sees Strong Trading Volume on Analyst Upgrade

Shares of Centuri Holdings, Inc. (NYSE:CTRI) saw unusually-strong trading volume on Thursday after UBS Group raised their price target on the stock from $22.00 to $24.00. UBS Group currently has a neutral rating on the stock. Approximately 1,257,075 shares traded hands during mid-day trading, an increase of 15% from the previous session’s volume of 1,094,658 shares.The stock last traded at $21.6750 and had previously closed at $22.12.

CTRI has been the subject of several other research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Centuri in a research note on Wednesday, November 5th. JPMorgan Chase & Co. boosted their price objective on Centuri from $20.00 to $22.00 and gave the stock an “underweight” rating in a report on Thursday, November 6th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Centuri has a consensus rating of “Hold” and a consensus target price of $23.25.

Insider Activity

In other news, major shareholder Carl C. Icahn acquired 3,488,372 shares of the business’s stock in a transaction dated Friday, November 14th. The stock was purchased at an average cost of $21.50 per share, for a total transaction of $74,999,998.00. Following the acquisition, the insider owned 14,336,044 shares of the company’s stock, valued at $308,224,946. This trade represents a 32.16% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.15% of the company’s stock.

Institutional Trading of Centuri

A number of hedge funds have recently bought and sold shares of CTRI. Amalgamated Bank raised its stake in shares of Centuri by 288.1% during the third quarter. Amalgamated Bank now owns 2,278 shares of the company’s stock worth $48,000 after acquiring an additional 1,691 shares in the last quarter. CWM LLC grew its holdings in shares of 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 purchasing an additional 1,893 shares during the last quarter. State of Alaska Department of Revenue purchased a new position in Centuri in the 3rd quarter worth $119,000. Tower Research Capital LLC TRC lifted its stake in Centuri by 121.7% in the second quarter. Tower Research Capital LLC TRC now owns 5,532 shares of the company’s stock worth $124,000 after purchasing an additional 3,037 shares during the last quarter. Finally, State of Wyoming purchased a new stake in Centuri during the third quarter valued at about $128,000.

Centuri Stock Performance

The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 1.54. The company has a fifty day moving average price of $21.06 and a 200 day moving average price of $20.91. The stock has a market cap of $1.85 billion, a PE ratio of 696.07, a P/E/G ratio of 1.47 and a beta of 1.08.

Centuri (NYSE:CTRI) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.13). The company had revenue of $848.55 million for the quarter, compared to the consensus estimate of $762.06 million. Centuri had a return on equity of 6.37% and a net margin of 0.09%.Centuri’s revenue was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.06 earnings per share. Centuri has set its FY 2025 guidance at EPS. Analysts expect that Centuri Holdings, Inc. will post 0.25 earnings per share for the current year.

About Centuri

Centuri Holdings, Inc operates as a utility infrastructure services company in North America. It offers gas utility services, including maintenance, repair, installation, and replacement services for natural gas local distribution utility companies with focus on the modernization of infrastructure. The company also provides electric utility services comprising design, maintenance and repair, upgrade, and expansion services for transmission and distribution infrastructure.