Centuri Holdings, Inc. $CTRI Shares Purchased by American Century Companies Inc.

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. boosted its position in Centuri Holdings, Inc. (NYSE:CTRI - Free Report) by 62.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,332 shares of the company's stock after purchasing an additional 12,057 shares during the quarter. American Century Companies Inc.'s holdings in Centuri were worth $514,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of CTRI. Needham Investment Management LLC lifted its position in shares of Centuri by 3.9% during the fourth quarter. Needham Investment Management LLC now owns 447,628 shares of the company's stock worth $8,644,000 after purchasing an additional 16,800 shares during the last quarter. Northern Trust Corp increased its position in shares of Centuri by 18.5% during the fourth quarter. Northern Trust Corp now owns 138,497 shares of the company's stock worth $2,674,000 after purchasing an additional 21,586 shares in the last quarter. Nuveen LLC purchased a new stake in Centuri in the 1st quarter valued at $1,518,000. Millennium Management LLC acquired a new stake in Centuri in the 4th quarter valued at about $888,000. Finally, Wesbanco Bank Inc. purchased a new position in Centuri during the 1st quarter worth approximately $670,000.

Analyst Ratings Changes

CTRI has been the subject of a number of recent research reports. Wells Fargo & Company increased their target price on Centuri from $22.00 to $25.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. JPMorgan Chase & Co. boosted their price objective on Centuri from $18.00 to $19.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 22nd. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $22.00.

Centuri Stock Performance

Shares of Centuri stock traded up $0.78 on Wednesday, reaching $22.23. 1,425,076 shares of the company traded hands, compared to its average volume of 877,170. The firm has a market capitalization of $1.97 billion, a PE ratio of -740.09, a PEG ratio of 1.05 and a beta of 1.12. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.72 and a quick ratio of 1.72. The company has a 50 day moving average of $21.02 and a 200 day moving average of $19.51. Centuri Holdings, Inc. has a 52 week low of $14.45 and a 52 week high of $24.60.

Centuri (NYSE:CTRI - Get Free Report) last issued its quarterly earnings results 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 analysts' expectations of $702.35 million. Centuri had a negative net margin of 0.12% and a positive return on equity of 4.74%. The company's revenue was up 7.7% on a year-over-year basis. During the same period last year, the business earned $0.20 earnings per share. Equities analysts forecast 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.