Centuri (NYSE:CTRI) Shares Climb 11.8% – Here’s What Happened

Centuri Holdings, Inc. (NYSE:CTRI)’s stock price shot up 11.8% during mid-day trading on Monday. The company traded as high as $22.47 and last traded at $22.7820. 168,583 shares changed hands during trading, a decline of 90% from the average daily volume of 1,636,210 shares. The stock had previously closed at $20.37.

Analyst Ratings Changes

CTRI has been the subject of several analyst reports. Cantor Fitzgerald raised 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. JPMorgan Chase & Co. decreased their price target on Centuri from $23.00 to $22.00 and set an “underweight” rating on the stock in a research report on Monday, October 19th. Wells Fargo & Company lowered their price target on shares of Centuri from $28.00 to $24.00 and set an “overweight” rating on the stock in a report on Friday, November 6th. Bank of America cut their price objective on shares of Centuri from $33.50 to $21.00 and set an “underperform” rating for the company in a research report on Friday, September 4th. Finally, Robert W. Baird reduced their price objective on shares of Centuri from $33.00 to $26.00 and set an “outperform” rating for the company in a research note on Tuesday, September 29th. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $27.50.

Centuri Stock Down 0.1%

The company has a market cap of $2.28 billion, a PE ratio of 30.49, a P/E/G ratio of 0.78 and a beta of 0.94. The stock has a 50-day moving average of $20.40 and a 200-day moving average of $27.05. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.88.

Centuri (NYSE:CTRI) last announced its earnings results 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. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.04 billion. Centuri had a return on equity of 8.26% and a net margin of 1.45%. The company’s quarterly revenue was up 40.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.19 EPS. Sell-side analysts predict that Centuri Holdings, Inc. will post 0.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Dustin DeMaria bought 5,200 shares of the company’s stock in a transaction on Friday, September 18th. The stock was acquired at an average cost of $19.27 per share, for a total transaction of $100,204.00. Following the completion of the transaction, the director directly owned 12,936 shares in the company, valued at $249,276.72. This trade represents a 67.22% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.33% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Centuri

A number of institutional investors have recently made changes to their positions in CTRI. Reinhart Partners LLC. bought a new stake in shares of Centuri during the 3rd quarter worth $76,741,000. Assenagon Asset Management S.A. bought a new position in Centuri in the second quarter valued at $23,153,000. Dimensional Fund Advisors LP increased its stake in Centuri by 46.2% in the first quarter. Dimensional Fund Advisors LP now owns 890,022 shares of the company’s stock valued at $25,998,000 after acquiring an additional 281,264 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in Centuri during the second quarter valued at about $7,827,000. Finally, Irenic Capital Management LP raised its position in Centuri by 97.1% during the first quarter. Irenic Capital Management LP now owns 354,771 shares of the company’s stock valued at $10,363,000 after purchasing an additional 174,771 shares in the last quarter.

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.