American Century Companies Inc. Increases Stock Holdings in Centuri Holdings, Inc. $CTRI

Key Points

• American Century Companies Inc. increased its stake in Centuri Holdings by 62.6% in the first quarter, now owning 31,332 shares worth $514,000.
• Analysts have set new price targets for Centuri, with Wells Fargo raising its target from $22.00 to $25.00, while the consensus rating remains at "Hold" with a target price of $22.00.
• Centuri reported $0.19 earnings per share for the last quarter, missing estimates, but its revenue grew by 7.7% year-over-year, reaching $724.05 million.

American Century Companies Inc. lifted its stake in shares of Centuri Holdings, Inc. (NYSE:CTRI - Free Report) by 62.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,332 shares of the company's stock after acquiring an additional 12,057 shares during the period. American Century Companies Inc.'s holdings in Centuri were worth $514,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Nuveen LLC acquired a new stake in shares of Centuri during the first quarter valued at $1,518,000. Invesco Ltd. acquired a new stake in shares of Centuri during the first quarter valued at $214,000. Deutsche Bank AG boosted its stake 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 acquiring an additional 484 shares during the last quarter. XTX Topco Ltd boosted its stake 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 acquiring an additional 16,705 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake 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 acquiring an additional 3,672 shares during the last quarter.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Wells Fargo & Company raised their price target on Centuri from $22.00 to $25.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. JPMorgan Chase & Co. raised their price target on Centuri from $18.00 to $19.00 and gave the stock an "underweight" rating in a research note on Tuesday, July 22nd. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $22.00.

Centuri Trading Up 1.7%

Shares of Centuri stock traded up $0.38 during trading hours on Thursday, reaching $23.15. The stock had a trading volume of 2,076,872 shares, compared to its average volume of 2,575,751. The firm has a 50 day simple moving average of $21.05 and a two-hundred day simple moving average of $19.57. The firm has a market capitalization of $2.05 billion, a price-to-earnings ratio of -771.41, a P/E/G ratio of 1.11 and a beta of 1.12. The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 1.59. Centuri Holdings, Inc. has a 1 year low of $14.45 and a 1 year high of $24.60.

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

Centuri Profile

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.