Empyrean Capital Partners LP Sells 181,000 Shares of Centuri Holdings, Inc. $CTRI

Empyrean Capital Partners LP trimmed its holdings in shares of Centuri Holdings, Inc. (NYSE:CTRI) by 31.3% in the 1st quarter, Holdings Channel.com reports. The firm owned 397,000 shares of the company’s stock after selling 181,000 shares during the period. Empyrean Capital Partners LP’s holdings in Centuri were worth $11,596,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Icahn Carl C grew its stake in shares of Centuri by 32.2% in the 4th quarter. Icahn Carl C now owns 14,336,044 shares of the company’s stock worth $361,985,000 after buying an additional 3,488,372 shares during the last quarter. Hill City Capital LP raised its stake in Centuri by 5.2% during the fourth quarter. Hill City Capital LP now owns 4,030,000 shares of the company’s stock valued at $101,758,000 after buying an additional 200,000 shares during the last quarter. Carronade Capital Management LP raised its stake in Centuri by 30.7% during the fourth quarter. Carronade Capital Management LP now owns 3,988,664 shares of the company’s stock valued at $100,714,000 after buying an additional 935,847 shares during the last quarter. Wellington Management Group LLP bought a new stake in Centuri in the third quarter worth $78,222,000. Finally, Balyasny Asset Management L.P. boosted its holdings in Centuri by 77.2% in the third quarter. Balyasny Asset Management L.P. now owns 2,855,064 shares of the company’s stock worth $60,442,000 after acquiring an additional 1,243,451 shares in the last quarter.

Centuri Stock Down 1.4%

Centuri stock opened at $27.29 on Tuesday. Centuri Holdings, Inc. has a 12 month low of $19.04 and a 12 month high of $42.99. The stock has a fifty day simple moving average of $29.14 and a two-hundred day simple moving average of $30.18. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.82. The firm has a market cap of $2.75 billion, a price-to-earnings ratio of 80.26, a PEG ratio of 0.91 and a beta of 1.06.

Centuri (NYSE:CTRI) last announced 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. Centuri had a return on equity of 5.64% and a net margin of 0.98%.The firm had revenue of $688.69 million for the quarter, compared to the consensus estimate of $618.87 million. During the same period in the prior year, the company posted ($0.12) earnings per share. The company’s quarterly revenue was up 31.5% on a year-over-year basis. Equities analysts predict that Centuri Holdings, Inc. will post 0.61 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CTRI shares. Cantor Fitzgerald raised their price target on Centuri from $37.40 to $46.00 and gave the company an “overweight” rating in a report on Monday, May 11th. Wells Fargo & Company upped their price target on shares of Centuri from $32.00 to $37.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Weiss Ratings reissued a “sell (d+)” rating on shares of Centuri in a research report on Wednesday, June 24th. JPMorgan Chase & Co. raised their price objective on shares of Centuri from $26.00 to $29.00 and gave the company an “underweight” rating in a research note on Friday, May 8th. Finally, Robert W. Baird set a $41.00 target price on shares of Centuri in a research note on Friday, May 8th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $37.80.

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.