Centuri (NYSE:CTRI) Major Shareholder Carl Icahn Sells 374,430 Shares of Stock

Centuri Holdings, Inc. (NYSE:CTRI) major shareholder Carl Icahn sold 374,430 shares of Centuri stock in a transaction on Tuesday, November 10th. The stock was sold at an average price of $21.00, for a total transaction of $7,863,030.00. Following the sale, the insider owned 13,336,044 shares in the company, valued at $280,056,924. This represents a 2.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Centuri Trading Down 1.8%

Shares of Centuri stock opened at $22.26 on Friday. The firm has a market capitalization of $2.25 billion, a PE ratio of 39.74, a price-to-earnings-growth ratio of 0.78 and a beta of 0.94. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.84 and a quick ratio of 1.84. The company’s fifty day moving average price is $20.48 and its two-hundred day moving average price is $26.99. Centuri Holdings, Inc. has a 52-week low of $18.50 and a 52-week high of $42.99.

Centuri (NYSE:CTRI) last released its quarterly earnings data on Thursday, November 5th. The company reported $0.42 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $1.04 billion. During the same period last year, the firm earned $0.19 EPS. The firm’s revenue for the quarter was up 40.2% compared to the same quarter last year. On average, analysts expect that Centuri Holdings, Inc. will post 0.58 EPS for the current year.

Institutional Investors Weigh In On Centuri

A number of hedge funds have recently made changes to their positions in CTRI. Fifth Third Bancorp boosted its position in Centuri by 99.4% in the third quarter. Fifth Third Bancorp now owns 1,340 shares of the company’s stock valued at $27,000 after buying an additional 668 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in Centuri during the second quarter worth about $33,000. Sterling Capital Management LLC increased its holdings in shares of Centuri by 847.9% during the third quarter. Sterling Capital Management LLC now owns 2,948 shares of the company’s stock worth $59,000 after buying an additional 2,637 shares in the last quarter. Covestor Ltd increased its holdings in shares of Centuri by 52.5% during the third quarter. Covestor Ltd now owns 2,967 shares of the company’s stock worth $59,000 after buying an additional 1,021 shares in the last quarter. Finally, KBC Group NV acquired a new stake in shares of Centuri during the first quarter worth approximately $67,000.

Analyst Ratings Changes

CTRI has been the subject of a number of analyst reports. Robert W. Baird cut their price target on shares of Centuri from $33.00 to $26.00 and set an “outperform” rating for the company in a research note on Tuesday, September 29th. JPMorgan Chase & Co. lowered their price objective on Centuri from $23.00 to $22.00 and set an “underweight” rating on the stock in a research note on Monday, October 19th. Weiss Ratings raised Centuri from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday. Cantor Fitzgerald raised their target price on Centuri from $35.00 to $36.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 19th. Finally, Bank of America decreased their price target on Centuri from $33.50 to $21.00 and set an “underperform” rating on the stock in a research note on Friday, September 4th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Centuri currently has a consensus rating of “Hold” and an average price target of $27.50.

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.