Centuri (NYSE:CTRI) Reaches New 1-Year High – Still a Buy?

Shares of Centuri Holdings, Inc. (NYSE:CTRI) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $31.80 and last traded at $31.46, with a volume of 1967451 shares. The stock had previously closed at $30.44.

Wall Street Analyst Weigh In

CTRI has been the topic of several analyst reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of Centuri in a research note on Monday, December 29th. 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 for the company. JPMorgan Chase & Co. boosted their price objective on Centuri from $20.00 to $22.00 and gave the company an “underweight” rating in a research report on Thursday, November 6th. Wells Fargo & Company upped their price target on Centuri from $25.00 to $30.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 7th. Finally, UBS Group lifted their target price on Centuri from $22.00 to $24.00 and gave the stock a “neutral” rating in a report on Thursday, November 13th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $26.40.

Centuri Stock Up 3.4%

The firm has a market capitalization of $3.13 billion, a PE ratio of 1,049.02, a PEG ratio of 1.15 and a beta of 0.81. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.67 and a current ratio of 1.67. The company has a fifty day simple moving average of $27.02 and a two-hundred day simple moving average of $23.14.

Insider Activity

In other news, major shareholder Carl C. Icahn bought 3,488,372 shares of the company’s stock in a transaction that occurred on Friday, November 14th. The shares were purchased at an average price of $21.50 per share, for a total transaction of $74,999,998.00. Following the completion of the transaction, 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 ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Christian Brown sold 7,108 shares of the company’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 completion of the sale, the chief executive officer owned 22,089 shares in the company, valued at approximately $541,401.39. This represents a 24.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.15% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CTRI. Goldman Sachs Group Inc. grew its holdings in shares of Centuri by 164.9% in 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 shares of Centuri by 146.9% during the second quarter. KLP Kapitalforvaltning AS now owns 7,900 shares of the company’s stock worth $177,000 after buying an additional 4,700 shares during the period. CWM LLC lifted its stake in Centuri by 238.1% in the second quarter. CWM LLC now owns 2,688 shares of the company’s stock worth $60,000 after acquiring an additional 1,893 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in Centuri during the second quarter worth approximately $431,000. Finally, Geode Capital Management LLC lifted its position in shares of Centuri by 59.1% during the 2nd quarter. Geode Capital Management LLC now owns 527,856 shares of the company’s stock worth $11,847,000 after buying an additional 195,992 shares during 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.