Centuri (NYSE:CTRI) Sets New 52-Week High – Here’s What Happened

Centuri Holdings, Inc. (NYSE:CTRI) reached a new 52-week high during trading on Friday . The stock traded as high as $29.02 and last traded at $28.81, with a volume of 162306 shares. The stock had previously closed at $27.71.

Analysts Set New Price Targets

Several brokerages have issued reports on CTRI. Cantor Fitzgerald assumed coverage on Centuri in a research note on Friday, January 23rd. They issued an “overweight” rating and a $34.00 price target on the stock. Weiss Ratings reiterated a “sell (d+)” rating on shares of Centuri in a research report on Monday, December 29th. JPMorgan Chase & Co. increased their target price 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. UBS Group lifted their price target on shares of Centuri from $22.00 to $24.00 and gave the company a “neutral” rating in a research note on Thursday, November 13th. Finally, Wells Fargo & Company upped their price objective on shares of Centuri from $25.00 to $30.00 and gave the company an “overweight” rating in a report on Wednesday, January 7th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $26.40.

Centuri Price Performance

The stock has a market capitalization of $2.89 billion, a P/E ratio of 966.86, a price-to-earnings-growth ratio of 1.05 and a beta of 0.81. The business’s 50 day simple moving average is $26.48 and its two-hundred day simple moving average is $22.86. 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 (NYSE:CTRI) last posted 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). The business had revenue of $848.55 million during the quarter, compared to analyst estimates of $762.06 million. Centuri had a return on equity of 6.37% and a net margin of 0.09%.The company’s revenue was up 18.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.06 EPS. As a group, sell-side analysts forecast that Centuri Holdings, Inc. will post 0.25 earnings per share for the current fiscal year.

Insider Activity at Centuri

In other news, CEO Christian Brown sold 7,108 shares of the firm’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $24.51, for a total value of $174,217.08. Following the transaction, the chief executive officer owned 22,089 shares in the company, valued at $541,401.39. This trade represents a 24.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Carl C. Icahn purchased 3,488,372 shares of the firm’s stock in a transaction that occurred on Friday, November 14th. The shares were bought at an average price of $21.50 per share, with a total value of $74,999,998.00. Following the acquisition, the insider directly owned 14,336,044 shares of the company’s stock, valued at $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.

Institutional Trading of Centuri

Several institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. lifted its position in shares of Centuri by 164.9% during the first quarter. Goldman Sachs Group Inc. now owns 153,549 shares of the company’s stock valued at $2,517,000 after purchasing an additional 95,585 shares in the last quarter. KLP Kapitalforvaltning AS increased its stake in Centuri by 146.9% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 7,900 shares of the company’s stock valued at $177,000 after buying an additional 4,700 shares during the last quarter. CWM LLC lifted its position in shares of Centuri by 238.1% during the 2nd quarter. CWM LLC now owns 2,688 shares of the company’s stock worth $60,000 after buying an additional 1,893 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of Centuri in the 2nd quarter worth approximately $431,000. Finally, Geode Capital Management LLC grew its holdings in shares of Centuri by 59.1% in the second quarter. Geode Capital Management LLC now owns 527,856 shares of the company’s stock valued at $11,847,000 after acquiring an additional 195,992 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.