Centuri (NYSE:CTRI) Hits New 12-Month High – Still a Buy?

Centuri Holdings, Inc. (NYSE:CTRI) shares reached a new 52-week high during trading on Friday . The stock traded as high as $27.64 and last traded at $27.4770, with a volume of 387195 shares trading hands. The stock had previously closed at $26.68.

Analyst Ratings Changes

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

Centuri Price Performance

The company has a 50 day moving average price of $24.34 and a 200-day moving average price of $22.18. 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 company has a market cap of $2.78 billion, a price-to-earnings ratio of 929.84, a P/E/G ratio of 1.02 and a beta of 0.82.

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

Insider Activity

In related news, major shareholder Carl C. Icahn acquired 3,488,372 shares of the stock in a transaction dated Friday, November 14th. The stock was bought at an average cost of $21.50 per share, for a total transaction of $74,999,998.00. Following the completion of the transaction, the insider directly owned 14,336,044 shares of the company’s stock, valued at $308,224,946. The trade was a 32.16% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Christian Brown sold 7,108 shares of the company’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $24.51, for a total value of $174,217.08. Following the completion of the sale, the chief executive officer owned 22,089 shares in the company, valued at $541,401.39. The trade was a 24.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.15% of the company’s stock.

Institutional Trading of Centuri

A number of large investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd lifted its stake in shares of Centuri by 13,385.7% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,888 shares of the company’s stock valued at $40,000 after purchasing an additional 1,874 shares during the period. Amalgamated Bank lifted its stake in Centuri by 288.1% in the third quarter. Amalgamated Bank now owns 2,278 shares of the company’s stock valued at $48,000 after buying an additional 1,691 shares during the period. CWM LLC boosted its holdings in shares of Centuri by 238.1% during the 2nd quarter. CWM LLC now owns 2,688 shares of the company’s stock worth $60,000 after buying an additional 1,893 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in shares of Centuri in the 3rd quarter valued at $119,000. Finally, Tower Research Capital LLC TRC lifted its position in shares of Centuri by 121.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,532 shares of the company’s stock valued at $124,000 after acquiring an additional 3,037 shares during the period.

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.