Ancora Advisors LLC Has $1.50 Million Stock 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 shares of Centuri Holdings, Inc. (NYSE:CTRI - Free Report) by 45.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm 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 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Deutsche Bank AG increased 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 during the period. MetLife Investment Management LLC increased its position in shares of Centuri by 20.5% during the fourth quarter. MetLife Investment Management LLC now owns 9,933 shares of the company's stock valued at $192,000 after purchasing an additional 1,690 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Centuri by 27.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,625 shares of the company's stock valued at $186,000 after purchasing an additional 2,054 shares during the period. Nuveen Asset Management LLC increased its position in shares of Centuri by 12.5% during the fourth quarter. Nuveen Asset Management LLC now owns 28,312 shares of the company's stock valued at $547,000 after purchasing an additional 3,140 shares during the period. Finally, Rhumbline Advisers increased its position in shares of Centuri by 18.8% during the first quarter. Rhumbline Advisers now owns 21,960 shares of the company's stock valued at $360,000 after purchasing an additional 3,475 shares during the period.

Wall Street Analysts Forecast Growth

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

Centuri Price Performance

NYSE:CTRI traded up $0.90 during trading hours on Wednesday, reaching $22.35. The company had a trading volume of 626,287 shares, compared to its average volume of 872,211. The stock has a 50-day moving average of $21.02 and a two-hundred day moving average of $19.51. Centuri Holdings, Inc. has a one year low of $14.45 and a one year high of $24.60. The firm has a market capitalization of $1.98 billion, a PE ratio of -744.65, a PEG ratio of 1.05 and a beta of 1.12. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 1.59.

Centuri (NYSE:CTRI - Get Free Report) last announced its quarterly 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 negative net margin of 0.12% and a positive return on equity of 4.74%. The company 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 company earned $0.20 earnings per share. The business's revenue was up 7.7% on a year-over-year basis. 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.