Centuri Holdings, Inc. (NYSE:CTRI) Sees Significant Increase in Short Interest

Centuri Holdings, Inc. (NYSE:CTRI) was the target of a large increase in short interest in the month of March. As of March 31st, there was short interest totaling 3,541,704 shares, an increase of 24.1% from the March 15th total of 2,854,369 shares. Based on an average trading volume of 1,355,165 shares, the short-interest ratio is currently 2.6 days. Currently, 3.5% of the shares of the company are short sold.

Centuri Price Performance

Shares of CTRI traded down $0.48 during trading hours on Thursday, hitting $32.62. 875,054 shares of the company were exchanged, compared to its average volume of 1,340,989. The company has a market cap of $3.29 billion, a price-to-earnings ratio of 141.83, a P/E/G ratio of 1.35 and a beta of 0.73. Centuri has a fifty-two week low of $16.27 and a fifty-two week high of $34.10. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.82. The firm’s fifty day moving average is $30.55 and its 200 day moving average is $26.10.

Centuri (NYSE:CTRI) last released its earnings results on Wednesday, February 25th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.03). The company had revenue of $858.60 million for the quarter, compared to analyst estimates of $740.62 million. Centuri had a return on equity of 5.09% and a net margin of 0.76%.The business’s revenue for the quarter was up 19.7% compared to the same quarter last year. During the same period last year, the company posted $0.21 earnings per share. On average, equities analysts anticipate that Centuri will post 0.25 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on CTRI shares. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Centuri in a report on Friday, March 27th. Cantor Fitzgerald upped their price objective on Centuri from $35.25 to $37.40 and gave the company an “overweight” rating in a report on Wednesday, March 25th. Finally, Wells Fargo & Company decreased their price objective on Centuri from $34.00 to $32.00 and set an “overweight” rating on the stock in a report on Wednesday, April 1st. 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 MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $28.85.

Institutional Trading of Centuri

Several large investors have recently modified their holdings of CTRI. Vanguard Group Inc. grew its holdings in shares of Centuri by 126.0% during the 3rd quarter. Vanguard Group Inc. now owns 8,059,743 shares of the company’s stock worth $170,625,000 after purchasing an additional 4,493,955 shares in the last quarter. Icahn Carl C grew its holdings in shares of Centuri by 69.4% during the 3rd quarter. Icahn Carl C now owns 10,847,672 shares of the company’s stock worth $229,645,000 after purchasing an additional 4,443,795 shares in the last quarter. Wellington Management Group LLP acquired a new stake in shares of Centuri during the 3rd quarter worth $78,222,000. Samlyn Capital LLC acquired a new stake in shares of Centuri during the 3rd quarter worth $36,838,000. Finally, Carronade Capital Management LP lifted its position in shares of Centuri by 125.6% during the 3rd 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 during the last quarter.

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.