Ancora Advisors LLC Reduces Holdings in Centuri Holdings, Inc. $CTRI

Key Points

• Ancora Advisors LLC has reduced its stake in Centuri Holdings, Inc. by 45.8%, selling 77,360 shares and retaining 91,660 shares valued at approximately $1.5 million.
• Analysts have raised target prices for Centuri, with Wells Fargo increasing its estimate from $22.00 to $25.00, while the stock holds an average rating of "Hold" and a target price of $22.00.
• Centuri Holdings reported a revenue increase of 7.7% year-over-year, generating $724.05 million in the last quarter, although it missed earnings expectations.

Ancora Advisors LLC cut its position in Centuri Holdings, Inc. (NYSE:CTRI - Free Report) by 45.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 91,660 shares of the company's stock after selling 77,360 shares during the period. Ancora Advisors LLC owned about 0.10% of Centuri worth $1,502,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of the company. Needham Investment Management LLC boosted its holdings in Centuri by 3.9% in the 4th quarter. Needham Investment Management LLC now owns 447,628 shares of the company's stock worth $8,644,000 after buying an additional 16,800 shares during the period. Gamco Investors INC. ET AL lifted its position in shares of Centuri by 18.6% in the first quarter. Gamco Investors INC. ET AL now owns 150,000 shares of the company's stock valued at $2,458,000 after acquiring an additional 23,500 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Centuri by 18.5% in the fourth quarter. Northern Trust Corp now owns 138,497 shares of the company's stock worth $2,674,000 after acquiring an additional 21,586 shares during the period. Nuveen LLC purchased a new stake in shares of Centuri during the first quarter worth about $1,518,000. Finally, Millennium Management LLC bought a new stake in Centuri during the 4th quarter valued at approximately $888,000.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Wells Fargo & Company upped 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 target price on shares of Centuri from $18.00 to $19.00 and gave the company 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 assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $22.00.

Centuri Price Performance

CTRI stock traded down $0.30 during trading on Tuesday, hitting $21.38. 2,244,285 shares of the company's stock traded hands, compared to its average volume of 874,242. Centuri Holdings, Inc. has a 52 week low of $14.45 and a 52 week high of $24.60. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.72 and a current ratio of 1.72. The business has a fifty day simple moving average of $21.03 and a 200 day simple moving average of $19.50. The stock has a market capitalization of $1.90 billion, a price-to-earnings ratio of -712.43, a P/E/G ratio of 1.05 and a beta of 1.12.

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

Centuri Company 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.