Centuri (NYSE:CTRI) Reaches New 52-Week High – Here’s Why

Shares of Centuri Holdings, Inc. (NYSE:CTRI) hit a new 52-week high on Thursday . The stock 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.

Analyst Upgrades and Downgrades

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

Centuri Price Performance

The company has a debt-to-equity ratio of 1.54, a current ratio of 1.67 and a quick ratio of 1.67. The stock’s 50 day simple moving average is $27.02 and its two-hundred day simple moving average is $23.14. The stock has a market cap of $3.13 billion, a price-to-earnings ratio of 1,049.02, a P/E/G ratio of 1.15 and a beta of 0.81.

Insider Buying and Selling at Centuri

In related news, major shareholder Carl C. Icahn bought 3,488,372 shares of the business’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 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Christian Brown sold 7,108 shares of the stock in a transaction 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 of the company’s stock, valued at $541,401.39. The trade was a 24.34% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.15% of the company’s stock.

Institutional Investors Weigh In On Centuri

Several large investors have recently added to or reduced their stakes in CTRI. Vanguard Group Inc. grew its holdings in shares of 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 purchasing an additional 4,493,955 shares during the last quarter. Icahn Carl C boosted its holdings in Centuri by 69.4% in the third quarter. Icahn Carl C now owns 10,847,672 shares of the company’s stock valued at $229,645,000 after acquiring an additional 4,443,795 shares in the last quarter. Wellington Management Group LLP purchased a new position in Centuri during the 3rd quarter valued at $78,222,000. Cooper Creek Partners Management LLC bought a new position in Centuri in the 2nd quarter worth $49,416,000. Finally, Samlyn Capital LLC purchased a new stake in shares of Centuri in the 3rd quarter worth about $36,838,000.

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.