Centuri (NYSE:CTRI) Hits New 1-Year High – Still a Buy?

Centuri Holdings, Inc. (NYSE:CTRI)’s share price reached a new 52-week high on Thursday . The stock traded as high as $28.75 and last traded at $28.2360, with a volume of 864354 shares traded. The stock had previously closed at $27.83.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on CTRI shares. UBS Group raised their price objective on Centuri from $22.00 to $24.00 and gave the company a “neutral” rating in a research note on Thursday, November 13th. Wells Fargo & Company raised their price target on Centuri from $25.00 to $30.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 7th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Centuri in a research report on Monday, December 29th. Cantor Fitzgerald began coverage on Centuri in a research note on Friday. They set an “overweight” rating and a $34.00 price objective for the company. Finally, JPMorgan Chase & Co. upped their price target on shares of Centuri from $20.00 to $22.00 and gave the company an “underweight” rating in a report on Thursday, November 6th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $26.40.

Centuri Stock Up 0.3%

The company has a debt-to-equity ratio of 1.54, a current ratio of 1.67 and a quick ratio of 1.67. The stock has a market capitalization of $2.83 billion, a PE ratio of 948.58, a PEG ratio of 1.07 and a beta of 0.82. The company has a 50 day moving average price of $25.13 and a 200-day moving average price of $22.43.

Centuri (NYSE:CTRI) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.13). The business had revenue of $848.55 million during the quarter, compared to analysts’ expectations of $762.06 million. Centuri had a return on equity of 6.37% and a net margin of 0.09%.The business’s revenue was up 18.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.06 EPS. As a group, analysts forecast that Centuri Holdings, Inc. will post 0.25 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Investors Weigh In On Centuri

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

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.