Irenic Capital Management LP Has $10.36 Million Holdings in Centuri Holdings, Inc. $CTRI

Irenic Capital Management LP raised its holdings in Centuri Holdings, Inc. (NYSE:CTRI) by 97.1% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 354,771 shares of the company’s stock after purchasing an additional 174,771 shares during the quarter. Centuri accounts for about 0.7% of Irenic Capital Management LP’s holdings, making the stock its 26th biggest position. Irenic Capital Management LP’s holdings in Centuri were worth $10,363,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd boosted its stake in shares of Centuri by 13,385.7% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,888 shares of the company’s stock worth $40,000 after acquiring an additional 1,874 shares during the period. KBC Group NV bought a new stake in Centuri in the 1st quarter valued at $67,000. CWM LLC lifted its holdings in Centuri by 59.7% during the 4th quarter. CWM LLC now owns 4,045 shares of the company’s stock valued at $102,000 after purchasing an additional 1,512 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in Centuri by 121.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,532 shares of the company’s stock valued at $124,000 after purchasing an additional 3,037 shares during the last quarter. Finally, Chicago Partners Investment Group LLC bought a new position in Centuri during the first quarter worth $183,000.

Centuri Stock Down 4.5%

CTRI stock opened at $26.08 on Wednesday. The company has a market cap of $2.63 billion, a PE ratio of 76.70, a price-to-earnings-growth ratio of 0.90 and a beta of 1.06. The business has a 50-day simple moving average of $29.09 and a 200 day simple moving average of $30.18. Centuri Holdings, Inc. has a 52 week low of $19.04 and a 52 week high of $42.99. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.82.

Centuri (NYSE:CTRI) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.05. The business had revenue of $688.69 million during the quarter, compared to analysts’ expectations of $618.87 million. Centuri had a net margin of 0.98% and a return on equity of 5.64%. Centuri’s revenue was up 31.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.12) earnings per share. Sell-side analysts anticipate that Centuri Holdings, Inc. will post 0.61 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have commented on CTRI shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of Centuri in a report on Wednesday, June 24th. JPMorgan Chase & Co. raised their target price on shares of Centuri from $26.00 to $29.00 and gave the stock an “underweight” rating in a research note on Friday, May 8th. UBS Group lifted their target price on shares of Centuri from $33.00 to $36.00 and gave the stock a “neutral” rating in a report on Monday, May 11th. Wells Fargo & Company lifted their target price on shares of Centuri from $32.00 to $37.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Finally, Cantor Fitzgerald upped their price target on shares of Centuri from $37.40 to $46.00 and gave the company an “overweight” rating in a research note on Monday, May 11th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two 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 $37.80.

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.