Centuri Holdings, Inc. (NYSE:CTRI) Short Interest Update

Key Points

• Centuri Holdings, Inc. experienced a significant drop in short interest, decreasing by 28.1% to 2,250,000 shares as of September 30th, representing approximately 2.9% of its stock.
• The company's stock price rose 2.6% to $20.45, with a market cap of $1.81 billion and a negative P/E ratio of -683.51.
• Analysts have mixed sentiments towards Centuri, with a current consensus rating of "Hold" and an average price target of $22.33.

Centuri Holdings, Inc. (NYSE:CTRI - Get Free Report) was the target of a significant drop in short interest in the month of September. As of September 30th, there was short interest totaling 2,250,000 shares, a drop of 28.1% from the September 15th total of 3,130,000 shares. Approximately 2.9% of the company's stock are short sold. Based on an average daily volume of 1,980,000 shares, the days-to-cover ratio is currently 1.1 days. Based on an average daily volume of 1,980,000 shares, the days-to-cover ratio is currently 1.1 days. Approximately 2.9% of the company's stock are short sold.

Centuri Stock Up 2.6%

Shares of NYSE CTRI traded up $0.52 during mid-day trading on Thursday, reaching $20.45. 458,634 shares of the company's stock traded hands, compared to its average volume of 1,049,150. The stock has a market cap of $1.81 billion, a P/E ratio of -683.51, a PEG ratio of 1.06 and a beta of 1.09. The business has a 50-day simple moving average of $20.99 and a 200 day simple moving average of $20.44. Centuri has a 1-year low of $14.45 and a 1-year high of $24.60. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.72 and a quick ratio of 1.72.

Centuri (NYSE:CTRI - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.21 by ($0.02). The business had revenue of $724.05 million for the quarter, compared to analyst estimates of $702.35 million. Centuri had a negative net margin of 0.12% and a positive return on equity of 4.74%. The firm's quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.20 earnings per share. On average, analysts expect that Centuri will post 0.25 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Weiss Ratings restated a "sell (e+)" rating on shares of Centuri in a report on Wednesday, October 8th. Wells Fargo & Company raised their price target on shares of Centuri from $22.00 to $25.00 and gave the stock an "overweight" rating in a report on Tuesday, July 1st. Finally, JPMorgan Chase & Co. raised their price target on shares of Centuri from $19.00 to $20.00 and gave the stock an "underweight" rating in a report on Thursday, October 16th. Two research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $22.33.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CTRI. Bank of New York Mellon Corp grew its holdings in shares of Centuri by 11.5% during the first quarter. Bank of New York Mellon Corp now owns 35,720 shares of the company's stock valued at $585,000 after buying an additional 3,672 shares during the last quarter. XTX Topco Ltd lifted its position in shares of Centuri by 163.8% during the first quarter. XTX Topco Ltd now owns 26,901 shares of the company's stock valued at $441,000 after purchasing an additional 16,705 shares in the last quarter. Deutsche Bank AG lifted its position in shares of Centuri by 5.6% during the first quarter. Deutsche Bank AG now owns 9,143 shares of the company's stock valued at $150,000 after purchasing an additional 484 shares in the last quarter. Invesco Ltd. bought a new position in shares of Centuri during the first quarter valued at about $214,000. Finally, Nuveen LLC bought a new position in shares of Centuri during the first quarter valued at about $1,518,000.

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.

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