Centuri (NYSE:CTRI) Major Shareholder Carl Icahn Sells 175,733 Shares of Company Stock

Centuri Holdings, Inc. (NYSE:CTRI) major shareholder Carl Icahn sold 175,733 shares of Centuri stock in a transaction dated Wednesday, November 11th. The stock was sold at an average price of $19.72, for a total value of $3,465,454.76. Following the completion of the sale, the insider owned 13,160,311 shares of the company’s stock, valued at approximately $259,521,332.92. The trade was a 1.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Centuri Stock Performance

Shares of NYSE:CTRI opened at $22.26 on Friday. The stock has a market capitalization of $2.25 billion, a P/E ratio of 39.74, a P/E/G ratio of 0.78 and a beta of 0.94. Centuri Holdings, Inc. has a 1-year low of $18.50 and a 1-year high of $42.99. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.88. The business has a 50-day moving average price of $20.48 and a two-hundred day moving average price of $26.99.

Centuri (NYSE:CTRI) last issued its earnings results on Thursday, November 5th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate 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 earned $0.19 EPS. The company’s revenue for the quarter was up 40.2% on a year-over-year basis. Equities analysts predict that Centuri Holdings, Inc. will post 0.58 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Centuri from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday. Bank of America dropped their target price on shares of Centuri from $33.50 to $21.00 and set an “underperform” rating for the company in a research report on Friday, September 4th. JPMorgan Chase & Co. cut their price target on Centuri from $23.00 to $22.00 and set an “underweight” rating on the stock in a research note on Monday, October 19th. Robert W. Baird reduced their price target on Centuri from $33.00 to $26.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 29th. Finally, Wall Street Zen cut Centuri from a “buy” rating to a “hold” rating in a research note on Monday, July 20th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Centuri has an average rating of “Hold” and a consensus target price of $27.50.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Reinhart Partners LLC. bought a new stake in Centuri in the third quarter valued at approximately $76,741,000. Renaissance Technologies LLC raised its holdings in Centuri by 11.5% in the first quarter. Renaissance Technologies LLC now owns 934,300 shares of the company’s stock worth $27,291,000 after purchasing an additional 96,600 shares during the period. Dimensional Fund Advisors LP raised its holdings in Centuri by 46.2% in the first quarter. Dimensional Fund Advisors LP now owns 890,022 shares of the company’s stock worth $25,998,000 after purchasing an additional 281,264 shares during the period. William Blair Investment Management LLC boosted its position in shares of Centuri by 20.4% during the third quarter. William Blair Investment Management LLC now owns 786,079 shares of the company’s stock worth $15,753,000 after purchasing an additional 133,383 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in shares of Centuri by 2.6% during the third quarter. Assenagon Asset Management S.A. now owns 785,725 shares of the company’s stock worth $15,746,000 after purchasing an additional 20,097 shares in the last quarter.

About Centuri

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.