Centuri (NYSE:CTRI) Hits New 12-Month High – What’s Next?

Centuri Holdings, Inc. (NYSE:CTRI) shares hit a new 52-week high on Thursday . The company traded as high as $28.75 and last traded at $28.2360, with a volume of 864354 shares trading hands. The stock had previously closed at $27.83.

Wall Street Analyst Weigh In

CTRI has been the topic of several research reports. UBS Group increased their target price on Centuri from $22.00 to $24.00 and gave the stock a “neutral” rating in a research report on Thursday, November 13th. Wells Fargo & Company raised their price objective on Centuri from $25.00 to $30.00 and gave the stock an “overweight” rating in a report on Wednesday, January 7th. JPMorgan Chase & Co. lifted their price objective on Centuri from $20.00 to $22.00 and gave the company an “underweight” rating in a research note on Thursday, November 6th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Centuri in a report on Monday, December 29th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $24.50.

Centuri Trading Up 1.5%

The firm has a market cap of $2.81 billion, a price-to-earnings ratio of 941.51, a price-to-earnings-growth ratio of 1.05 and a beta of 0.82. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 1.54. The business has a 50 day moving average price of $24.83 and a 200-day moving average price of $22.34.

Centuri (NYSE:CTRI) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.13). Centuri had a return on equity of 6.37% and a net margin of 0.09%.The company had revenue of $848.55 million during the quarter, compared to analysts’ expectations of $762.06 million. During the same quarter in the prior year, the company earned $0.06 EPS. The firm’s revenue was up 18.1% compared to the same quarter last year. As a group, research analysts expect that Centuri Holdings, Inc. will post 0.25 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Carl C. Icahn acquired 3,488,372 shares of the firm’s stock in a transaction on Friday, November 14th. The stock was bought at an average cost of $21.50 per share, with a total value of $74,999,998.00. Following the transaction, the insider directly owned 14,336,044 shares in the company, valued at approximately $308,224,946. This represents a 32.16% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Christian Brown sold 7,108 shares of the firm’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $24.51, for a total value of $174,217.08. Following the sale, the chief executive officer owned 22,089 shares of the company’s stock, valued at $541,401.39. This represents a 24.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.15% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CTRI. Icahn Carl C grew its stake in Centuri by 69.4% during the 3rd quarter. Icahn Carl C now owns 10,847,672 shares of the company’s stock valued at $229,645,000 after purchasing an additional 4,443,795 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Centuri by 126.0% in the 3rd quarter. Vanguard Group Inc. now owns 8,059,743 shares of the company’s stock valued at $170,625,000 after purchasing an additional 4,493,955 shares in the last quarter. Wellington Management Group LLP purchased a new position in shares of Centuri during the 3rd quarter valued at approximately $78,222,000. Carronade Capital Management LP grew its position in shares of Centuri by 125.6% during the third quarter. Carronade Capital Management LP now owns 3,052,817 shares of the company’s stock worth $64,628,000 after buying an additional 1,699,392 shares in the last quarter. Finally, Balyasny Asset Management L.P. grew its position in shares of Centuri by 77.2% during the third quarter. Balyasny Asset Management L.P. now owns 2,855,064 shares of the company’s stock worth $60,442,000 after buying an additional 1,243,451 shares in the last quarter.

About Centuri

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.