Insider Selling: Centuri (NYSE:CTRI) Major Shareholder Sells $5,682,250.00 in Stock

Centuri Holdings, Inc. (NYSE:CTRI) major shareholder Carl Icahn sold 324,700 shares of the business’s stock in a transaction that occurred on Thursday, November 12th. The shares were sold at an average price of $17.50, for a total transaction of $5,682,250.00. Following the completion of the sale, the insider directly owned 12,835,611 shares in the company, valued at $224,623,192.50. This trade represents a 2.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Centuri Trading Down 1.8%

Shares of CTRI stock traded down $0.40 during trading hours on Thursday, hitting $22.26. The company had a trading volume of 1,090,991 shares, compared to its average volume of 2,267,578. The company’s fifty day moving average is $20.48 and its 200 day moving average is $26.99. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.84 and a quick ratio of 1.84. Centuri Holdings, Inc. has a fifty-two week low of $18.50 and a fifty-two week high of $42.99. The stock has a market capitalization of $2.25 billion, a PE ratio of 39.74, a price-to-earnings-growth ratio of 0.78 and a beta of 0.94.

Centuri (NYSE:CTRI) last posted its quarterly earnings data on Thursday, November 5th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.19. Centuri had a net margin of 1.45% and a return on equity of 8.26%. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter last year, the company posted $0.19 EPS. The firm’s quarterly revenue was up 40.2% on a year-over-year basis. Research analysts expect that Centuri Holdings, Inc. will post 0.58 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CTRI. Reinhart Partners LLC. acquired a new position in shares of Centuri in the third quarter valued at approximately $76,741,000. Renaissance Technologies LLC increased its stake in Centuri by 11.5% during the 1st quarter. Renaissance Technologies LLC now owns 934,300 shares of the company’s stock worth $27,291,000 after buying an additional 96,600 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Centuri by 46.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 890,022 shares of the company’s stock worth $25,998,000 after buying an additional 281,264 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in Centuri during the 2nd quarter worth approximately $23,153,000. Finally, NEOS Investment Management LLC lifted its holdings in Centuri by 33.7% during the 2nd quarter. NEOS Investment Management LLC now owns 617,145 shares of the company’s stock worth $18,662,000 after buying an additional 155,647 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Robert W. Baird decreased their price target on Centuri from $33.00 to $26.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 29th. Bank of America dropped their price objective on Centuri from $33.50 to $21.00 and set an “underperform” rating for the company in a research note on Friday, September 4th. Weiss Ratings upgraded Centuri from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday. Wells Fargo & Company cut their price objective on Centuri from $28.00 to $24.00 and set an “overweight” rating on the stock in a report on Friday, November 6th. Finally, Cantor Fitzgerald increased their target price on Centuri from $35.00 to $36.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 19th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $27.50.

Centuri Company Profile

Centuri Holdings, Inc. is a North American utility infrastructure services company that builds, maintains and upgrades systems used to deliver natural gas and electricity. Its work includes installing and replacing underground gas pipelines, constructing and maintaining electric distribution infrastructure, and providing related inspection, repair and emergency-response services. The company serves regulated utilities and other energy customers across the United States and Canada. Its operating businesses include NPL Construction, Neuco, Linetec Services and Riggs Distler, which provide capabilities spanning gas distribution, electric utility construction and broader infrastructure work.