Centuri (NYSE:CTRI) Research Coverage Started at Cantor Fitzgerald

Cantor Fitzgerald started coverage on shares of Centuri (NYSE:CTRI) in a research note issued to investors on Friday morning, Marketbeat reports. The firm issued an overweight rating and a $34.00 target price on the stock.

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

Centuri Price Performance

Shares of NYSE:CTRI opened at $28.45 on Friday. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 1.54. The stock has a market capitalization of $2.83 billion, a PE ratio of 948.58, a PEG ratio of 1.07 and a beta of 0.82. The firm has a 50 day moving average of $25.13 and a 200-day moving average of $22.44. Centuri has a 12 month low of $14.45 and a 12 month high of $28.89.

Centuri (NYSE:CTRI) last announced its quarterly earnings results 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 firm had revenue of $848.55 million during the quarter, compared to the consensus estimate of $762.06 million. During the same quarter in the previous year, the company posted $0.06 earnings per share. The firm’s revenue was up 18.1% on a year-over-year basis. On average, equities research analysts predict that Centuri will post 0.25 EPS for the current fiscal year.

Insider Activity at Centuri

In other Centuri news, CEO Christian Brown sold 7,108 shares of the business’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $24.51, for a total value of $174,217.08. Following the completion of the transaction, the chief executive officer owned 22,089 shares of the company’s stock, valued at $541,401.39. The trade was a 24.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 price of $21.50 per share, with a total value of $74,999,998.00. Following the completion of the acquisition, the insider directly owned 14,336,044 shares in the company, valued at approximately $308,224,946. This represents a 32.16% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.15% of the company’s stock.

Hedge Funds Weigh In On Centuri

Several hedge funds and other institutional investors have recently modified their holdings of CTRI. Vanguard Group Inc. lifted its position in Centuri by 126.0% during the 3rd quarter. Vanguard Group Inc. now owns 8,059,743 shares of the company’s stock valued at $170,625,000 after acquiring an additional 4,493,955 shares during the period. Icahn Carl C increased its stake 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 purchasing an additional 4,443,795 shares in the last quarter. Wellington Management Group LLP purchased a new position in shares of Centuri during the third quarter valued at approximately $78,222,000. Cooper Creek Partners Management LLC purchased a new position in shares of Centuri during the second quarter valued at approximately $49,416,000. Finally, Samlyn Capital LLC bought a new stake in shares of Centuri in the 3rd quarter worth approximately $36,838,000.

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.