Empyrean Capital Partners LP Makes New $14.59 Million Investment in Centuri Holdings, Inc. $CTRI

Empyrean Capital Partners LP purchased a new position in Centuri Holdings, Inc. (NYSE:CTRI) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 578,000 shares of the company’s stock, valued at approximately $14,594,000. Empyrean Capital Partners LP owned 0.58% of Centuri at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Caitong International Asset Management Co. Ltd boosted its position in shares of Centuri by 13,385.7% in the third quarter. Caitong International Asset Management Co. Ltd now owns 1,888 shares of the company’s stock worth $40,000 after purchasing an additional 1,874 shares during the period. CWM LLC boosted its position in shares of Centuri by 59.7% in the fourth quarter. CWM LLC now owns 4,045 shares of the company’s stock worth $102,000 after purchasing an additional 1,512 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of Centuri by 121.7% in the second quarter. Tower Research Capital LLC TRC now owns 5,532 shares of the company’s stock worth $124,000 after purchasing an additional 3,037 shares during the period. Ameritas Investment Partners Inc. boosted its position in shares of Centuri by 251.0% during the third quarter. Ameritas Investment Partners Inc. now owns 6,083 shares of the company’s stock worth $129,000 after acquiring an additional 4,350 shares during the last quarter. Finally, Inspire Advisors LLC bought a new position in shares of Centuri during the fourth quarter worth $220,000.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CTRI. JPMorgan Chase & Co. upped their target price on shares of Centuri from $26.00 to $29.00 and gave the stock an “underweight” rating in a research report on Friday, May 8th. Robert W. Baird set a $41.00 target price on shares of Centuri in a research report on Friday, May 8th. Cantor Fitzgerald upped their target price on shares of Centuri from $37.40 to $46.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. UBS Group upped their target price on shares of Centuri from $33.00 to $36.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Centuri in a research report on Friday, March 27th. Two equities 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $37.80.

Centuri Price Performance

Shares of NYSE:CTRI opened at $29.98 on Thursday. The firm has a market cap of $3.03 billion, a price-to-earnings ratio of 88.18, a P/E/G ratio of 1.07 and a beta of 1.06. The firm has a fifty day moving average price of $32.35 and a 200 day moving average price of $29.66. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.88 and a current ratio of 1.88. Centuri Holdings, Inc. has a fifty-two week low of $19.04 and a fifty-two week high of $42.99.

Centuri (NYSE:CTRI) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.05. The company had revenue of $688.69 million for the quarter, compared to the consensus estimate of $618.87 million. Centuri had a net margin of 0.98% and a return on equity of 5.64%. Centuri’s revenue was up 31.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.12) earnings per share. As a group, sell-side analysts expect that Centuri Holdings, Inc. will post 0.59 earnings per share for the current fiscal year.

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.