Centuri (NYSE:CTRI) Sets New 12-Month High – Here’s Why

Centuri Holdings, Inc. (NYSE:CTRI) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $32.25 and last traded at $31.65, with a volume of 382893 shares traded. The stock had previously closed at $31.29.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Cantor Fitzgerald initiated coverage on shares of Centuri in a research report on Friday, January 23rd. They set an “overweight” rating and a $34.00 price objective for the company. Wells Fargo & Company raised their price target on shares of Centuri from $25.00 to $30.00 and gave the stock an “overweight” rating in a report on Wednesday, January 7th. UBS Group upped 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. JPMorgan Chase & Co. raised their target price on Centuri from $20.00 to $22.00 and gave the company an “underweight” rating in a research note on Thursday, November 6th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Centuri in a research report on Monday, December 29th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Centuri currently has an average rating of “Hold” and a consensus target price of $26.40.

Centuri Trading Up 0.8%

The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.67 and a current ratio of 1.67. The firm has a market capitalization of $3.14 billion, a P/E ratio of 1,050.52, a PEG ratio of 1.17 and a beta of 0.81. The firm has a 50 day simple moving average of $27.47 and a two-hundred day simple moving average of $23.42.

Insider Buying and Selling at Centuri

In related news, CEO Christian Brown sold 7,108 shares of the firm’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $24.51, for a total transaction of $174,217.08. Following the transaction, the chief executive officer directly owned 22,089 shares of the company’s stock, valued at $541,401.39. This trade represents a 24.34% decrease 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. 0.15% of the stock is owned by insiders.

Institutional Investors Weigh In On Centuri

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Numerai GP LLC lifted its position in shares of Centuri by 31.4% during the 4th quarter. Numerai GP LLC now owns 24,755 shares of the company’s stock worth $625,000 after buying an additional 5,911 shares in the last quarter. Occudo Quantitative Strategies LP increased its position in shares of Centuri by 213.0% during the fourth quarter. Occudo Quantitative Strategies LP now owns 75,614 shares of the company’s stock valued at $1,909,000 after acquiring an additional 51,454 shares during the last quarter. Irenic Capital Management LP purchased a new stake in shares of Centuri during the fourth quarter valued at approximately $4,545,000. Empyrean Capital Partners LP bought a new stake in Centuri during the fourth quarter worth $14,594,000. Finally, Boothbay Fund Management LLC boosted its position in Centuri by 240.4% in the fourth quarter. Boothbay Fund Management LLC now owns 232,411 shares of the company’s stock worth $5,868,000 after purchasing an additional 164,127 shares during the last quarter.

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.