Centuri (NYSE:CTRI) Stock Breaks Above 50-Day Moving Average – Here’s Why

Centuri Holdings, Inc. (NYSE:CTRI)’s share price crossed above its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $20.42 and traded as high as $20.67. Centuri shares last traded at $20.6190, with a volume of 1,190,816 shares trading hands.

Wall Street Analysts Forecast Growth

CTRI has been the topic of a number of research analyst reports. Wells Fargo & Company cut their price target on shares of Centuri from $29.00 to $28.00 and set an “overweight” rating on the stock in a report on Tuesday. Wall Street Zen downgraded shares of Centuri from a “buy” rating to a “hold” rating in a report on Monday, July 20th. Weiss Ratings downgraded shares of Centuri from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, October 8th. Bank of America lowered their price objective on shares of Centuri from $33.50 to $21.00 and set an “underperform” rating on the stock in a research report on Friday, September 4th. Finally, Robert W. Baird dropped their target price 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. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $28.17.

Centuri Stock Performance

The stock’s 50 day moving average is $20.42 and its 200 day moving average is $27.35.

Centuri (NYSE:CTRI) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.03. The business had revenue of $959.53 million during the quarter, compared to analysts’ expectations of $835.99 million. During the same quarter in the prior year, the firm posted $0.19 earnings per share. The firm’s quarterly revenue was up 32.9% on a year-over-year basis. As a group, research analysts predict that Centuri Holdings, Inc. will post 0.61 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Dustin DeMaria purchased 5,200 shares of Centuri stock in a transaction dated Friday, September 18th. The stock was bought at an average cost of $19.27 per share, for a total transaction of $100,204.00. Following the completion of the transaction, the director owned 12,936 shares in the company, valued at $249,276.72. This trade represents a 67.22% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.33% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Centuri

Hedge funds have recently bought and sold shares of the company. Reinhart Partners LLC. bought a new stake in Centuri during the 3rd quarter worth approximately $76,741,000. Verbena Value LP increased its stake in Centuri by 31.3% in the 1st quarter. Verbena Value LP now owns 1,771,457 shares of the company’s stock worth $51,744,000 after acquiring an additional 422,593 shares during the last quarter. Renaissance Technologies LLC increased its stake in Centuri by 11.5% in the 1st quarter. Renaissance Technologies LLC now owns 934,300 shares of the company’s stock worth $27,291,000 after acquiring an additional 96,600 shares during the last quarter. Dimensional Fund Advisors LP increased 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 worth $25,998,000 after acquiring an additional 281,264 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Centuri by 2.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 785,725 shares of the company’s stock valued at $15,746,000 after acquiring an additional 20,097 shares in the last quarter.

Centuri Company Profile

Centuri Holdings, Inc is a strategic infrastructure services company that supports the development, maintenance and modernization of energy and utility systems. The company provides construction and related services for natural gas and electric distribution infrastructure, including pipelines, utility networks and other assets used to deliver energy to homes, businesses and communities.

Centuri also serves customers in areas such as electric transmission, renewable energy and broader utility infrastructure.