Centuri Holdings, Inc. (NYSE:CTRI) Given Consensus Recommendation of “Hold” by Brokerages

Centuri Holdings, Inc. (NYSE:CTRI) has earned a consensus rating of “Hold” from the six ratings firms that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $26.40.

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

Centuri Trading Down 0.6%

NYSE:CTRI opened at $28.48 on Friday. Centuri has a one year low of $14.45 and a one year high of $29.01. The business has a fifty day moving average price of $25.47 and a 200-day moving average price of $22.54. The firm has a market capitalization of $2.84 billion, a price-to-earnings ratio of 949.48, a price-to-earnings-growth ratio of 1.08 and a beta of 0.82. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.67 and a quick ratio of 1.67.

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

Insider Activity at Centuri

In other news, major shareholder Carl C. Icahn purchased 3,488,372 shares of the firm’s stock in a transaction on Friday, November 14th. The stock was acquired at an average cost of $21.50 per share, with a total value of $74,999,998.00. Following the completion of the transaction, the insider owned 14,336,044 shares in the company, valued at $308,224,946. This represents a 32.16% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Christian Brown sold 7,108 shares of Centuri stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $24.51, for a total transaction of $174,217.08. Following the completion of the transaction, the chief executive officer directly owned 22,089 shares in the company, valued at approximately $541,401.39. The trade was a 24.34% decrease in their position. The SEC filing for this sale provides additional information. 0.15% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Icahn Carl C increased its position in shares of Centuri by 69.4% during the third quarter. Icahn Carl C now owns 10,847,672 shares of the company’s stock valued at $229,645,000 after acquiring an additional 4,443,795 shares during the last quarter. Vanguard Group Inc. increased its holdings in Centuri by 126.0% in the 3rd quarter. Vanguard Group Inc. now owns 8,059,743 shares of the company’s stock valued at $170,625,000 after purchasing an additional 4,493,955 shares during the last quarter. Wellington Management Group LLP purchased a new stake in Centuri in the third quarter valued at approximately $78,222,000. Carronade Capital Management LP lifted its stake in Centuri by 125.6% during the third quarter. Carronade Capital Management LP now owns 3,052,817 shares of the company’s stock worth $64,628,000 after purchasing an additional 1,699,392 shares in the last quarter. Finally, Balyasny Asset Management L.P. boosted its position in shares of Centuri by 77.2% during the third quarter. Balyasny Asset Management L.P. now owns 2,855,064 shares of the company’s stock worth $60,442,000 after buying an additional 1,243,451 shares during the period.

About Centuri

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.