Key Points
- Carl Icahn sold 625,570 Centuri shares at an average of $21 each, worth about $13.1 million. He retained 13.71 million shares after the sale.
- Centuri beat quarterly estimates, reporting EPS of $0.42 versus $0.23 expected and revenue of $1.19 billion, up 40.2% year over year.
- Analysts’ consensus rating is Hold, with an average price target of $27.50; the article also reported Centuri shares down 1.8%.
Centuri Holdings, Inc. (NYSE:CTRI - Get Free Report) major shareholder Carl Icahn sold 175,733 shares of the stock in a transaction dated Wednesday, November 11th. The stock was sold at an average price of $19.72, for a total value of $3,465,454.76. Following the completion of the sale, the insider owned 13,160,311 shares of the company's stock, valued at $259,521,332.92. This trade represents a 1.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases with the SEC.
Centuri Trading Down 1.8%
NYSE:CTRI opened at $22.26 on Friday. Centuri Holdings, Inc. has a fifty-two week low of $18.50 and a fifty-two week high of $42.99. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.84 and a quick ratio of 1.84. The stock has a market capitalization of $2.25 billion, a PE ratio of 39.74, a price-to-earnings-growth ratio of 0.78 and a beta of 0.94. The business's 50-day simple moving average is $20.48 and its 200-day simple moving average is $26.99.
Centuri (NYSE:CTRI - Get Free Report) last posted its quarterly earnings data on Thursday, November 5th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.23 by $0.19. The business had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.04 billion. Centuri had a net margin of 1.45% and a return on equity of 8.26%. The firm's revenue was up 40.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.19 EPS. Sell-side analysts expect that Centuri Holdings, Inc. will post 0.58 earnings per share for the current fiscal year.
Institutional Trading of Centuri
Hedge funds and other institutional investors have recently modified their holdings of the stock. Horizon Kinetics Asset Management LLC increased its position in shares of Centuri by 10.1% during the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 105,751 shares of the company's stock worth $2,119,000 after purchasing an additional 9,708 shares during the last quarter. Landscape Capital Management L.L.C. bought a new stake in shares of Centuri during the 3rd quarter worth approximately $260,000. Norwood Investment Partners LP boosted its holdings in shares of Centuri by 24.8% in the 3rd quarter. Norwood Investment Partners LP now owns 377,000 shares of the company's stock valued at $7,555,000 after buying an additional 75,000 shares during the last quarter. William Blair Investment Management LLC boosted its holdings in shares of Centuri by 20.4% in the 3rd quarter. William Blair Investment Management LLC now owns 786,079 shares of the company's stock valued at $15,753,000 after buying an additional 133,383 shares during the last quarter. Finally, Fifth Third Bancorp boosted its holdings in shares of Centuri by 99.4% in the 3rd quarter. Fifth Third Bancorp now owns 1,340 shares of the company's stock valued at $27,000 after buying an additional 668 shares during the last quarter.
Analysts Set New Price Targets
A number of analysts have recently commented on CTRI shares. Robert W. Baird cut their price target on Centuri from $33.00 to $26.00 and set an "outperform" rating on the stock in a report on Tuesday, September 29th. JPMorgan Chase & Co. decreased their price objective on Centuri from $23.00 to $22.00 and set an "underweight" rating for the company in a report on Monday, October 19th. Cantor Fitzgerald raised their price target on shares of Centuri from $35.00 to $36.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 19th. Wall Street Zen downgraded shares of Centuri from a "buy" rating to a "hold" rating in a report on Monday, July 20th. Finally, Wells Fargo & Company cut their price objective on shares of Centuri from $28.00 to $24.00 and set an "overweight" rating on the stock in a research report on Friday, November 6th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $27.50.
Read Our Latest Research Report on CTRI
About Centuri
(
Get Free Report)
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.
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