Centuri (NYSE:CTRI) Stock: Insider Carl Icahn Sells 374,430 Shares

Centuri Holdings, Inc. (NYSE:CTRI) major shareholder Carl Icahn sold 374,430 shares of the firm’s stock in a transaction that occurred on Tuesday, November 10th. The shares were sold at an average price of $21.00, for a total value of $7,863,030.00. Following the completion of the transaction, the insider directly owned 13,336,044 shares in the company, valued at $280,056,924. The trade was a 2.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Centuri Stock Down 2.0%

Shares of Centuri stock opened at $21.81 on Friday. Centuri Holdings, Inc. has a 12-month low of $18.50 and a 12-month high of $42.99. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.88. The stock has a 50 day moving average price of $20.50 and a two-hundred day moving average price of $26.95. The stock has a market capitalization of $2.20 billion, a P/E ratio of 30.07, a PEG ratio of 0.77 and a beta of 0.94.

Centuri (NYSE:CTRI) last released its quarterly earnings results on Thursday, November 5th. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.19. Centuri had a net margin of 1.45% and a return on equity of 8.26%. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter last year, the firm posted $0.19 earnings per share. The company’s quarterly revenue was up 40.2% compared to the same quarter last year. Equities analysts expect that Centuri Holdings, Inc. will post 0.58 earnings per share for the current year.

Institutional Trading of Centuri

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hill City Capital LP raised its position in Centuri by 5.0% in the third quarter. Hill City Capital LP now owns 4,230,000 shares of the company’s stock worth $84,769,000 after purchasing an additional 200,000 shares in the last quarter. Reinhart Partners LLC. bought a new position in shares of Centuri during the 3rd quarter worth approximately $76,741,000. Renaissance Technologies LLC boosted its stake in Centuri by 11.5% in the 1st quarter. Renaissance Technologies LLC now owns 934,300 shares of the company’s stock valued at $27,291,000 after buying an additional 96,600 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Centuri by 46.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 890,022 shares of the company’s stock valued at $25,998,000 after buying an additional 281,264 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in Centuri in the second quarter valued at $23,153,000.

Wall Street Analyst Weigh In

CTRI has been the subject of several recent analyst reports. Weiss Ratings upgraded Centuri from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday. JPMorgan Chase & Co. dropped 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 cut their price target on Centuri from $28.00 to $24.00 and set an “overweight” rating for the company in a report on Friday, November 6th. Robert W. Baird lowered their price objective on shares of Centuri from $33.00 to $26.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 29th. Finally, Cantor Fitzgerald upped their target price on shares of Centuri from $35.00 to $36.00 and gave the company an “overweight” rating in a research note on Wednesday, August 19th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Centuri currently has an average rating of “Hold” and an average price target of $27.50.

Trending Headlines about Centuri

These are some of the CTRI headlines that stood out recently:

• Positive Sentiment: Director Anne L. Mariucci bought 4,545 shares for about $100,000, increasing her stake by 5.07%. The purchase may signal confidence, though it is small relative to Icahn’s sales. SEC filing
• Neutral Sentiment: Recent operating results provide a positive fundamental backdrop: Centuri reported quarterly EPS of $0.42 versus a $0.23 consensus estimate, while revenue rose 40.2% year over year. The article also reports a consensus analyst rating of “Hold.”
• Negative Sentiment: Icahn sold about 1.5 million shares across transactions from November 9–12, including 324,700 shares on November 12. Although he still held more than 12 million shares afterward, the repeated selling—at prices ranging from $17.50 to $21—may raise concerns about near-term supply and confidence. Insider trading report

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.