Centuri (NYSE:CTRI) Trading Down 6% – Here’s Why

Centuri Holdings, Inc. (NYSE:CTRI)’s stock price was down 6% during mid-day trading on Monday . The company traded as low as $20.93 and last traded at $20.94. Approximately 254,996 shares traded hands during mid-day trading, a decline of 37% from the average daily volume of 407,482 shares. The stock had previously closed at $22.28.

Analyst Ratings Changes

CTRI has been the topic of a number of research analyst reports. Robert W. Baird increased their price objective on shares of Centuri from $19.00 to $21.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. increased their price target on shares of Centuri from $17.00 to $19.00 and gave the stock an “underweight” rating in a research report on Tuesday, January 28th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $18.80.

Centuri Stock Performance

The stock’s fifty day simple moving average is $20.88 and its two-hundred day simple moving average is $18.79. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 1.70.

Institutional Trading of Centuri

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Zimmer Partners LP boosted its position in shares of Centuri by 67.4% during the third quarter. Zimmer Partners LP now owns 1,515,550 shares of the company’s stock worth $24,476,000 after buying an additional 610,138 shares during the period. Needham Investment Management LLC boosted its position in Centuri by 44.8% during the 3rd quarter. Needham Investment Management LLC now owns 430,828 shares of the company’s stock worth $6,958,000 after acquiring an additional 133,200 shares during the period. Versant Capital Management Inc bought a new position in shares of Centuri in the third quarter worth $1,153,000. State Street Corp increased its holdings in shares of Centuri by 37.3% during the third quarter. State Street Corp now owns 229,638 shares of the company’s stock valued at $3,709,000 after purchasing an additional 62,390 shares during the period. Finally, XTX Topco Ltd bought a new stake in shares of Centuri during the third quarter valued at about $448,000.

Centuri Company Profile

Centuri Holdings, Inc operates as a utility infrastructure services company in North America. It offers gas utility services, including maintenance, repair, installation, and replacement services for natural gas local distribution utility companies with focus on the modernization of infrastructure. The company also provides electric utility services comprising design, maintenance and repair, upgrade, and expansion services for transmission and distribution infrastructure.