Federated Hermes Inc. Invests $16.90 Million in Centuri Holdings, Inc. $CTRI

Federated Hermes Inc. bought a new stake in shares of Centuri Holdings, Inc. (NYSE:CTRI) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 753,000 shares of the company’s stock, valued at approximately $16,897,000. Federated Hermes Inc. owned approximately 0.85% of Centuri at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. CWM LLC increased its holdings in Centuri by 238.1% in the 2nd quarter. CWM LLC now owns 2,688 shares of the company’s stock valued at $60,000 after purchasing an additional 1,893 shares in the last quarter. Deutsche Bank AG boosted its position in shares of Centuri by 5.6% in the first quarter. Deutsche Bank AG now owns 9,143 shares of the company’s stock worth $150,000 after buying an additional 484 shares during the period. KLP Kapitalforvaltning AS grew its stake in shares of Centuri by 146.9% in the second quarter. KLP Kapitalforvaltning AS now owns 7,900 shares of the company’s stock valued at $177,000 after buying an additional 4,700 shares in the last quarter. Invesco Ltd. purchased a new stake in shares of Centuri during the 1st quarter valued at about $214,000. Finally, Magnetar Financial LLC purchased a new stake in shares of Centuri during the 2nd quarter valued at about $216,000.

Centuri Stock Up 2.4%

CTRI stock opened at $26.29 on Thursday. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 1.54. The firm has a 50 day simple moving average of $21.34 and a 200-day simple moving average of $21.32. The company has a market capitalization of $2.62 billion, a P/E ratio of 876.76, a PEG ratio of 1.80 and a beta of 0.95. Centuri Holdings, Inc. has a twelve month low of $14.45 and a twelve month high of $26.62.

Centuri (NYSE:CTRI) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.13). The company had revenue of $848.55 million for the quarter, compared to the consensus estimate of $762.06 million. Centuri had a net margin of 0.09% and a return on equity of 6.37%. The company’s revenue was up 18.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.06 earnings per share. On average, equities research analysts predict that Centuri Holdings, Inc. will post 0.25 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CTRI has been the subject of a number of analyst reports. JPMorgan Chase & Co. upped their price target on Centuri from $20.00 to $22.00 and gave the stock an “underweight” rating in a report on Thursday, November 6th. UBS Group upped their target price on shares of Centuri from $22.00 to $24.00 and gave the company a “neutral” rating in a research note on Thursday, November 13th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Centuri in a report on Monday. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $23.25.

Insider Transactions at Centuri

In related news, CEO Christian Brown sold 7,108 shares of the business’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $24.51, for a total value of $174,217.08. Following the completion of the sale, the chief executive officer directly owned 22,089 shares of the company’s stock, valued at $541,401.39. The trade was a 24.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Carl C. Icahn acquired 3,488,372 shares of the business’s stock in a transaction on Friday, November 14th. The shares were purchased at an average price of $21.50 per share, for a total transaction of $74,999,998.00. Following the purchase, the insider directly owned 14,336,044 shares of the company’s stock, valued at $308,224,946. This represents a 32.16% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 0.15% of the company’s stock.

Centuri Profile

Centuri Holdings, Inc operates as a utility infrastructure services company in North America. It offers gas utility services, including maintenance, repair, installation, and replacement services for natural gas local distribution utility companies with focus on the modernization of infrastructure. The company also provides electric utility services comprising design, maintenance and repair, upgrade, and expansion services for transmission and distribution infrastructure.