Northern Right Capital Management L.P. Takes $6.80 Million Position in Centuri Holdings, Inc. $CTRI

Northern Right Capital Management L.P. purchased a new stake in Centuri Holdings, Inc. (NYSE:CTRI) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 321,129 shares of the company’s stock, valued at approximately $6,798,000. Centuri accounts for approximately 2.1% of Northern Right Capital Management L.P.’s investment portfolio, making the stock its 17th biggest position.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Centuri by 126.0% in the 3rd quarter. Vanguard Group Inc. now owns 8,059,743 shares of the company’s stock worth $170,625,000 after purchasing an additional 4,493,955 shares during the period. Icahn Carl C boosted its position in shares of Centuri by 69.4% in the third quarter. Icahn Carl C now owns 10,847,672 shares of the company’s stock worth $229,645,000 after buying an additional 4,443,795 shares during the period. Wellington Management Group LLP acquired a new position in Centuri during the third quarter valued at $78,222,000. Cooper Creek Partners Management LLC purchased a new position in Centuri during the 2nd quarter valued at about $49,416,000. Finally, Carronade Capital Management LP increased its holdings in shares of Centuri by 125.6% in the 3rd quarter. Carronade Capital Management LP now owns 3,052,817 shares of the company’s stock valued at $64,628,000 after purchasing an additional 1,699,392 shares during the period.

Centuri Stock Up 1.7%

Shares of CTRI stock opened at $29.80 on Tuesday. The firm’s fifty day moving average price is $29.14 and its two-hundred day moving average price is $24.73. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.82. Centuri Holdings, Inc. has a 1 year low of $14.45 and a 1 year high of $32.38. The firm has a market capitalization of $3.00 billion, a P/E ratio of 129.56, a PEG ratio of 1.18 and a beta of 0.62.

Centuri (NYSE:CTRI) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.03). The business had revenue of $858.60 million for the quarter, compared to analyst estimates of $740.62 million. Centuri had a return on equity of 5.09% and a net margin of 0.76%.The company’s quarterly revenue was up 19.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.21 earnings per share. On average, equities analysts predict that Centuri Holdings, Inc. will post 0.25 EPS for the current fiscal year.

Analyst Ratings Changes

CTRI has been the subject of several research reports. Weiss Ratings restated a “sell (d+)” rating on shares of Centuri in a report on Monday, December 29th. Wells Fargo & Company upped their price objective on shares of Centuri from $30.00 to $34.00 and gave the company an “overweight” rating in a research note on Thursday, February 26th. Finally, Cantor Fitzgerald increased their target price on shares of Centuri from $34.00 to $35.25 and gave the stock an “overweight” rating in a research report on Friday, February 27th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $28.81.

Centuri Company 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.