Centuri (NYSE:CTRI) Stock: Insider Carl Icahn Sells 175,733 Shares

Centuri Holdings, Inc. (NYSE:CTRI) major shareholder Carl Icahn sold 175,733 shares of the company’s stock in a transaction dated Wednesday, November 11th. The shares were sold at an average price of $19.72, for a total transaction of $3,465,454.76. Following the transaction, the insider directly owned 13,160,311 shares of the company’s stock, valued at $259,521,332.92. This represents a 1.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Centuri Stock Down 2.0%

NYSE CTRI opened at $21.81 on Friday. 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 firm has a 50-day simple moving average of $20.50 and a 200 day simple moving average of $26.95. Centuri Holdings, Inc. has a twelve month low of $18.50 and a twelve month high of $42.99. The stock has a market cap 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 earnings results on Thursday, November 5th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.19. Centuri had a return on equity of 8.26% and a net margin of 1.45%. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same period last year, the business earned $0.19 earnings per share. The firm’s revenue for the quarter was up 40.2% compared to the same quarter last year. On average, research analysts forecast that Centuri Holdings, Inc. will post 0.58 EPS for the current year.

Institutional Trading of Centuri

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CTRI. Hill City Capital LP raised its position in Centuri by 5.0% in the third quarter. Hill City Capital LP now owns 4,230,000 shares of the company’s stock worth $84,769,000 after purchasing an additional 200,000 shares in the last quarter. Reinhart Partners LLC. bought a new position in Centuri during the third quarter worth about $76,741,000. Renaissance Technologies LLC boosted its holdings in Centuri by 11.5% during the first quarter. Renaissance Technologies LLC now owns 934,300 shares of the company’s stock valued at $27,291,000 after purchasing an additional 96,600 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Centuri by 46.2% during the first quarter. Dimensional Fund Advisors LP now owns 890,022 shares of the company’s stock valued at $25,998,000 after purchasing an additional 281,264 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in Centuri during the second quarter valued at approximately $23,153,000.

Analyst Upgrades and Downgrades

CTRI has been the topic of several recent research reports. JPMorgan Chase & Co. decreased their price objective on Centuri from $23.00 to $22.00 and set an “underweight” rating on the stock in a report on Monday, October 19th. Cantor Fitzgerald upped their target price on Centuri from $35.00 to $36.00 and gave the company an “overweight” rating in a research note on Wednesday, August 19th. Weiss Ratings raised Centuri from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday. Bank of America reduced their target price on Centuri from $33.50 to $21.00 and set an “underperform” rating for the company in a research report on Friday, September 4th. Finally, Wall Street Zen downgraded shares of Centuri from a “buy” rating to a “hold” rating in a research note on Monday, July 20th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $27.50.

Centuri News Roundup

These are some of the CTRI news items that stood out recently:

• 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

Centuri Company Profile

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.