Centuri (NYSE:CTRI) Reaches New 12-Month Low – Here’s Why

Centuri Holdings, Inc. (NYSE:CTRI)’s stock price reached a new 52-week low during mid-day trading on Thursday. The company traded as low as $18.79 and last traded at $19.5130, with a volume of 228,149 shares trading hands. The stock had previously closed at $19.77.

Analyst Ratings Changes

A number of equities analysts have recently commented on CTRI shares. Weiss Ratings lowered shares of Centuri from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, October 8th. Robert W. Baird decreased their target price on shares of Centuri from $33.00 to $26.00 and set an “outperform” rating on the stock in a report on Tuesday, September 29th. Wells Fargo & Company lowered their target price on shares of Centuri from $37.00 to $29.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 5th. Bank of America lowered their target price on shares of Centuri from $33.50 to $21.00 and set an “underperform” rating on the stock in a research note on Friday, September 4th. Finally, Wall Street Zen downgraded shares of Centuri from a “buy” rating to a “hold” rating in a report on Monday, July 20th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $29.50.

Centuri Stock Performance

The company has a market cap of $1.99 billion, a P/E ratio of 63.59, a price-to-earnings-growth ratio of 0.64 and a beta of 1.01. The company’s fifty day moving average is $20.88 and its 200 day moving average is $26.95. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.81.

Centuri (NYSE:CTRI) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.03. The firm had revenue of $959.53 million during the quarter, compared to the consensus estimate of $835.99 million. Centuri had a return on equity of 5.85% and a net margin of 0.86%. The business’s revenue was up 32.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.19 earnings per share. As a group, equities analysts predict that Centuri Holdings, Inc. will post 0.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Dustin DeMaria acquired 5,200 shares of Centuri stock in a transaction that occurred on Friday, September 18th. The stock was bought at an average price of $19.27 per share, with a total value of $100,204.00. Following the transaction, the director directly owned 12,936 shares in the company, valued at approximately $249,276.72. This represents a 67.22% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.33% of the company’s stock.

Institutional Trading of Centuri

Institutional investors and hedge funds have recently modified their holdings of the business. Reinhart Partners LLC. bought a new stake in Centuri in the 3rd quarter worth approximately $76,741,000. Verbena Value LP lifted its holdings in shares of Centuri by 31.3% during the 1st quarter. Verbena Value LP now owns 1,771,457 shares of the company’s stock valued at $51,744,000 after buying an additional 422,593 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Centuri by 11.5% in 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 last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Centuri by 46.2% in 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 during the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Centuri by 2.6% in the third quarter. Assenagon Asset Management S.A. now owns 785,725 shares of the company’s stock worth $15,746,000 after acquiring an additional 20,097 shares during the period.

Centuri Company Profile

Centuri Holdings, Inc (NYSE: CTRI) is an infrastructure services company that supports the development, maintenance and modernization of essential utility systems in the United States and Canada. Its customers primarily include natural gas and electric utilities, municipalities and other infrastructure owners.

The company provides construction and maintenance services for gas distribution networks, electric transmission and distribution systems, and other underground utility infrastructure.