Rhumbline Advisers Grows Stake in Centuri Holdings, Inc. $CTRI

Rhumbline Advisers grew its stake in shares of Centuri Holdings, Inc. (NYSE:CTRI) by 274.1% in the 3rd quarter, Holdings Channel.com reports. The fund owned 90,487 shares of the company’s stock after acquiring an additional 66,299 shares during the period. Rhumbline Advisers’ holdings in Centuri were worth $1,916,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Cooper Creek Partners Management LLC bought a new position in Centuri in the 2nd quarter worth about $49,416,000. Balyasny Asset Management L.P. purchased a new position in Centuri in the second quarter worth about $36,165,000. Adage Capital Partners GP L.L.C. bought a new position in shares of Centuri in the second quarter worth approximately $30,725,000. Carronade Capital Management LP grew its holdings in shares of Centuri by 1,394.5% during the second quarter. Carronade Capital Management LP now owns 1,353,425 shares of the company’s stock valued at $30,371,000 after buying an additional 1,262,867 shares during the last quarter. Finally, Federated Hermes Inc. increased its position in shares of Centuri by 75.1% during the third quarter. Federated Hermes Inc. now owns 1,318,136 shares of the company’s stock valued at $27,905,000 after acquiring an additional 565,136 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CTRI. Cantor Fitzgerald upped their price objective on Centuri from $34.00 to $35.25 and gave the company an “overweight” rating in a research report on Friday. Weiss Ratings restated a “sell (d+)” rating on shares of Centuri in a research note on Monday, December 29th. Wells Fargo & Company upped their price target on Centuri from $30.00 to $34.00 and gave the company an “overweight” rating in a report on Thursday. UBS Group lifted their price objective on Centuri from $22.00 to $24.00 and gave the stock a “neutral” rating in a report on Thursday, November 13th. Finally, JPMorgan Chase & Co. boosted their target price on Centuri from $20.00 to $22.00 and gave the stock an “underweight” rating in a research report on Thursday, November 6th. Two 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, the company has an average rating of “Hold” and a consensus price target of $28.81.

Insider Buying and Selling at Centuri

In other news, CEO Christian Brown sold 7,108 shares of the stock in a transaction that occurred on Thursday, December 4th. The shares were 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 represents a 24.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.15% of the stock is owned by company insiders.

Centuri Stock Performance

CTRI stock opened at $30.93 on Friday. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.67 and a quick ratio of 1.67. Centuri Holdings, Inc. has a 1 year low of $14.45 and a 1 year high of $32.38. The company has a market cap of $3.08 billion, a P/E ratio of 134.46, a price-to-earnings-growth ratio of 1.17 and a beta of 0.81. The stock’s fifty day moving average price is $28.26 and its 200-day moving average price is $23.97.

Centuri (NYSE:CTRI) last posted its earnings results on Wednesday, February 25th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.03). The firm had revenue of $858.60 million during the quarter, compared to the consensus estimate of $740.62 million. Centuri had a net margin of 0.76% and a return on equity of 5.80%. The firm’s revenue was up 19.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.21 EPS. On average, equities analysts forecast that Centuri Holdings, Inc. will post 0.25 earnings per share for the current year.

Centuri 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.