Centuri (NYSE:CTRI) Coverage Initiated at Cantor Fitzgerald

Research analysts at Cantor Fitzgerald began coverage on shares of Centuri (NYSE:CTRI) in a research report issued on Friday, Marketbeat Ratings reports. The brokerage set an “overweight” rating and a $34.00 price target on the stock. Cantor Fitzgerald’s price objective suggests a potential upside of 19.52% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Centuri in a research note on Monday, December 29th. UBS Group lifted their target price on Centuri from $22.00 to $24.00 and gave the company a “neutral” rating in a research report on Thursday, November 13th. JPMorgan Chase & Co. increased their price target on shares of Centuri from $20.00 to $22.00 and gave the stock an “underweight” rating in a research report on Thursday, November 6th. Finally, Wells Fargo & Company lifted their price objective on shares of Centuri from $25.00 to $30.00 and gave the company an “overweight” rating in a report on Wednesday, January 7th. Three 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $26.40.

Centuri Trading Up 0.3%

NYSE CTRI opened at $28.45 on Friday. Centuri has a 12 month low of $14.45 and a 12 month high of $28.89. The stock has a market capitalization of $2.83 billion, a P/E ratio of 948.58, a PEG ratio of 1.07 and a beta of 0.82. The firm’s 50-day moving average is $25.13 and its two-hundred day moving average is $22.43. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.67 and a quick ratio of 1.67.

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

Insider Activity at Centuri

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

Institutional Investors Weigh In On Centuri

A number of institutional investors and hedge funds have recently bought and sold shares of CTRI. Massachusetts Financial Services Co. MA boosted its stake in Centuri by 38.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 71,243 shares of the company’s stock valued at $1,799,000 after acquiring an additional 19,810 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Centuri by 2,451.8% in the 4th quarter. SG Americas Securities LLC now owns 464,075 shares of the company’s stock valued at $11,718,000 after purchasing an additional 445,889 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Centuri by 942.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 153,022 shares of the company’s stock valued at $3,239,000 after purchasing an additional 138,349 shares during the period. Tudor Investment Corp ET AL acquired a new stake in shares of Centuri in the 3rd quarter valued at about $4,992,000. Finally, Hudson Bay Capital Management LP grew its stake in Centuri by 68.5% during the 3rd quarter. Hudson Bay Capital Management LP now owns 126,385 shares of the company’s stock worth $2,676,000 after buying an additional 51,385 shares during the last quarter.

Centuri Company Profile

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.