Centuri (NYSE:CTRI) Stock: Insider Charles Patton Buys 11,000 Shares

Centuri Holdings, Inc. (NYSE:CTRI) Director Charles Patton bought 11,000 shares of Centuri stock in a transaction dated Wednesday, November 11th. The stock was acquired at an average cost of $22.72 per share, with a total value of $249,920.00. Following the transaction, the director owned 40,309 shares of the company’s stock, valued at $915,820.48. This trade represents a 37.53% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Centuri Stock Performance

Shares of CTRI stock traded down $0.44 on Friday, hitting $21.81. The company’s stock had a trading volume of 1,416,159 shares, compared to its average volume of 2,128,472. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.84 and a current ratio of 1.84. The stock’s 50 day moving average is $20.50 and its 200-day moving average is $26.95. Centuri Holdings, Inc. has a fifty-two week low of $18.50 and a fifty-two week high of $42.99. The company has a market capitalization of $2.20 billion, a PE ratio of 30.07, a PEG ratio of 0.77 and a beta of 0.94.

Centuri (NYSE:CTRI) last released its quarterly earnings results on Thursday, November 5th. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.19. Centuri had a net margin of 1.45% and a return on equity of 8.26%. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period last year, the firm earned $0.19 earnings per share. Centuri’s revenue for the quarter was up 40.2% compared to the same quarter last year. Equities research analysts expect that Centuri Holdings, Inc. will post 0.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Wells Fargo & Company dropped their price target on shares of Centuri from $28.00 to $24.00 and set an “overweight” rating for the company in a research report on Friday, November 6th. Wall Street Zen downgraded Centuri from a “buy” rating to a “hold” rating in a research report on Monday, July 20th. Weiss Ratings upgraded Centuri from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday. JPMorgan Chase & Co. lowered their price objective on Centuri from $23.00 to $22.00 and set an “underweight” rating on the stock in a research note on Monday, October 19th. Finally, Cantor Fitzgerald lifted their price objective on Centuri from $35.00 to $36.00 and gave the company an “overweight” rating in a report on Wednesday, August 19th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $27.50.

Centuri News Summary

Here’s some of the latest news about CTRI:

• Positive Sentiment: Director Anne L. Mariucci bought 4,545 shares for about $100,000, increasing her stake by 5.07%. The purchase may signal confidence, though it is small relative to Icahn’s sales. SEC filing
• Neutral Sentiment: Recent operating results provide a positive fundamental backdrop: Centuri reported quarterly EPS of $0.42 versus a $0.23 consensus estimate, while revenue rose 40.2% year over year. The article also reports a consensus analyst rating of “Hold.”
• Negative Sentiment: Icahn sold about 1.5 million shares across transactions from November 9–12, including 324,700 shares on November 12. Although he still held more than 12 million shares afterward, the repeated selling—at prices ranging from $17.50 to $21—may raise concerns about near-term supply and confidence. Insider trading report

Institutional Trading of Centuri

Several large investors have recently made changes to their positions in CTRI. Reinhart Partners LLC. acquired a new stake in shares of Centuri in the 3rd quarter valued at $76,741,000. Assenagon Asset Management S.A. acquired a new position in shares of Centuri during the 2nd quarter worth $23,153,000. Dimensional Fund Advisors LP lifted its position in shares of Centuri by 46.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 890,022 shares of the company’s stock worth $25,998,000 after buying an additional 281,264 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Centuri during the 2nd quarter worth $7,827,000. Finally, Hill City Capital LP boosted its stake in Centuri by 5.0% in the third quarter. Hill City Capital LP now owns 4,230,000 shares of the company’s stock valued at $84,769,000 after buying an additional 200,000 shares in the last quarter.

About Centuri

Centuri Holdings, Inc. is a North American utility infrastructure services company that builds, maintains and upgrades systems used to deliver natural gas and electricity. Its work includes installing and replacing underground gas pipelines, constructing and maintaining electric distribution infrastructure, and providing related inspection, repair and emergency-response services. The company serves regulated utilities and other energy customers across the United States and Canada. Its operating businesses include NPL Construction, Neuco, Linetec Services and Riggs Distler, which provide capabilities spanning gas distribution, electric utility construction and broader infrastructure work.