Centuri Holdings, Inc. (NYSE:CTRI) Sees Significant Increase in Short Interest

Centuri Holdings, Inc. (NYSE:CTRI) was the target of a large increase in short interest in September. As of September 30th, there was short interest totalling 3,740,000 shares, an increase of 16.5% from the September 15th total of 3,210,000 shares. Based on an average daily trading volume, of 420,700 shares, the short-interest ratio is presently 8.9 days. Approximately 22.4% of the shares of the stock are short sold.

Insider Transactions at Centuri

In related news, Director William Fehrman acquired 20,000 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was bought at an average cost of $16.50 per share, with a total value of $330,000.00. Following the completion of the acquisition, the director now owns 45,000 shares in the company, valued at $742,500. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CTRI. Massachusetts Financial Services Co. MA acquired a new stake in shares of Centuri in the 2nd quarter valued at about $33,619,000. Clearbridge Investments LLC bought a new position in shares of Centuri during the second quarter worth about $5,587,000. Point72 Asset Management L.P. acquired a new stake in Centuri in the 2nd quarter valued at approximately $4,339,000. Ghisallo Capital Management LLC bought a new stake in Centuri in the 2nd quarter valued at approximately $3,409,000. Finally, Maverick Capital Ltd. acquired a new position in Centuri during the 2nd quarter worth approximately $2,922,000.

Wall Street Analyst Weigh In

CTRI has been the topic of several research analyst reports. JPMorgan Chase & Co. cut Centuri from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $19.00 to $16.00 in a report on Monday, October 7th. Bank of America lowered their target price on shares of Centuri from $21.00 to $15.00 and set an “underperform” rating for the company in a report on Tuesday, July 30th. Wells Fargo & Company decreased their price objective on Centuri from $29.00 to $22.00 and set an “overweight” rating for the company in a research note on Tuesday, July 30th. UBS Group lowered Centuri from a “buy” rating to a “neutral” rating and cut their target price for the company from $30.00 to $17.00 in a research note on Tuesday, July 30th. Finally, KeyCorp started coverage on Centuri in a report on Thursday, June 27th. They set a “sector weight” rating on the stock. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $20.00.

Centuri Stock Performance

Centuri stock traded up $0.82 during mid-day trading on Wednesday, hitting $18.60. 764,708 shares of the company’s stock were exchanged, compared to its average volume of 522,494. Centuri has a fifty-two week low of $14.47 and a fifty-two week high of $28.65. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 1.94. The company has a 50 day moving average price of $16.43.

Centuri (NYSE:CTRI) last released its quarterly earnings results on Monday, July 29th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. The business had revenue of $672.08 million for the quarter, compared to analyst estimates of $760.55 million. The firm’s quarterly revenue was down 16.6% compared to the same quarter last year. On average, research analysts predict that Centuri will post 0.43 EPS for the current year.

About Centuri

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.