Federated Hermes Inc. Purchases 565,136 Shares of Centuri Holdings, Inc. $CTRI

Federated Hermes Inc. boosted its position in Centuri Holdings, Inc. (NYSE:CTRI) by 75.1% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 1,318,136 shares of the company’s stock after purchasing an additional 565,136 shares during the period. Federated Hermes Inc. owned about 1.49% of Centuri worth $27,905,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Amalgamated Bank increased its holdings 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 buying an additional 1,691 shares during the last quarter. CWM LLC lifted its holdings in Centuri by 238.1% during the 2nd 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 stake in shares of Centuri in the third quarter worth about $119,000. Tower Research Capital LLC TRC lifted its stake in Centuri by 121.7% in the 2nd 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 in the last quarter. Finally, Strs Ohio purchased a new stake in shares of Centuri in the third quarter worth $167,000.

Insider Buying and Selling

In related 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 transaction of $174,217.08. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Carl C. Icahn acquired 3,488,372 shares of Centuri stock in a transaction dated Friday, November 14th. The stock was purchased at an average cost of $21.50 per share, with a total value of $74,999,998.00. Following the completion of the purchase, the insider owned 14,336,044 shares of the company’s stock, valued at approximately $308,224,946. This represents a 32.16% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.15% of the company’s stock.

Centuri Stock Performance

Shares of NYSE CTRI opened at $27.62 on Friday. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 1.54. Centuri Holdings, Inc. has a 52-week low of $14.45 and a 52-week high of $29.01. The company has a market cap of $2.75 billion, a PE ratio of 920.97, a PEG ratio of 1.05 and a beta of 0.82. The firm’s 50-day moving average price is $25.95 and its 200-day moving average price is $22.66.

Centuri (NYSE:CTRI) last announced its earnings results on Wednesday, November 5th. The company reported $0.19 earnings per share 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 company had revenue of $848.55 million for the quarter, compared to analysts’ expectations of $762.06 million. During the same quarter in the prior year, the firm posted $0.06 earnings per share. Centuri’s quarterly revenue was up 18.1% on a year-over-year basis. As a group, analysts anticipate that Centuri Holdings, Inc. will post 0.25 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Cantor Fitzgerald started coverage on shares of Centuri in a research note on Friday, January 23rd. They issued an “overweight” rating and a $34.00 target price on the stock. Wells Fargo & Company raised their price objective on Centuri from $25.00 to $30.00 and gave the company an “overweight” rating in a research note on Wednesday, January 7th. Weiss Ratings restated a “sell (d+)” rating on shares of Centuri in a report on Monday, December 29th. UBS Group raised their target price on Centuri from $22.00 to $24.00 and gave the stock a “neutral” rating in a research note on Thursday, November 13th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Centuri from $20.00 to $22.00 and gave the company an “underweight” rating in a report on Thursday, November 6th. Three 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 company. According to data from MarketBeat.com, Centuri presently has an average rating of “Hold” and a consensus target price of $26.40.

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.