Short Interest in Centuri Holdings, Inc. (NYSE:CTRI) Decreases By 36.5%

Centuri Holdings, Inc. (NYSE:CTRI - Get Free Report) was the target of a large drop in short interest in May. As of May 31st, there was short interest totalling 2,380,000 shares, a drop of 36.5% from the May 15th total of 3,750,000 shares. Approximately 9.7% of the company's stock are short sold. Based on an average trading volume of 478,500 shares, the days-to-cover ratio is currently 5.0 days.

Institutional Trading of Centuri

A number of hedge funds and other institutional investors have recently made changes to their positions in CTRI. Raymond James Financial Inc. purchased a new stake in Centuri in the fourth quarter valued at $479,000. Corebridge Financial Inc. grew its holdings in Centuri by 15.7% during the fourth quarter. Corebridge Financial Inc. now owns 8,459 shares of the company's stock worth $163,000 after acquiring an additional 1,146 shares during the period. Deutsche Bank AG grew its holdings in Centuri by 31.4% during the fourth quarter. Deutsche Bank AG now owns 8,659 shares of the company's stock worth $167,000 after acquiring an additional 2,068 shares during the period. Quantbot Technologies LP purchased a new position in Centuri during the fourth quarter valued at approximately $280,000. Finally, Millennium Management LLC acquired a new position in Centuri in the fourth quarter valued at approximately $888,000.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Wells Fargo & Company upped their price objective on Centuri from $18.00 to $22.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 13th. Robert W. Baird lowered their price target on shares of Centuri from $23.00 to $22.00 and set an "outperform" rating on the stock in a report on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Centuri has a consensus rating of "Hold" and a consensus target price of $19.00.

Centuri Stock Performance

Shares of NYSE CTRI traded down $0.09 during mid-day trading on Thursday, hitting $20.77. The stock had a trading volume of 1,167,998 shares, compared to its average volume of 499,690. The firm has a market cap of $1.84 billion, a PE ratio of 1,038.77, a PEG ratio of 1.14 and a beta of 1.06. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.57 and a current ratio of 1.57. The company has a 50 day moving average of $19.61 and a two-hundred day moving average of $19.43. Centuri has a twelve month low of $14.46 and a twelve month high of $26.84.

Centuri (NYSE:CTRI - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported ($0.12) earnings per share for the quarter, beating analysts' consensus estimates of ($0.14) by $0.02. Centuri had a return on equity of 5.16% and a net margin of 0.02%. The business had revenue of $550.08 million for the quarter, compared to analyst estimates of $534.41 million. Centuri's quarterly revenue was up 4.2% compared to the same quarter last year. Research analysts predict that Centuri will post 0.25 EPS for the current fiscal 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.