Assenagon Asset Management S.A. Takes Position in Centuri Holdings, Inc. $CTRI

Key Points

• Assenagon Asset Management acquired 765,628 shares of Centuri Holdings, worth approximately $23.2 million, giving it a 0.76% stake. Several other institutional investors also increased their positions.
• Centuri reported quarterly EPS of $0.24, beating estimates of $0.21, while revenue rose 32.9% year over year to $959.5 million, exceeding expectations.
• CTRI traded at $23.86, well below its 52-week high of $42.99. Analysts maintain a consensus “Hold” rating with an average price target of $32.40, despite mixed rating changes.

Assenagon Asset Management S.A. purchased a new stake in Centuri Holdings, Inc. (NYSE:CTRI - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 765,628 shares of the company's stock, valued at approximately $23,153,000. Assenagon Asset Management S.A. owned 0.76% of Centuri at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in CTRI. Goldman Sachs Group Inc. boosted its position in shares of Centuri by 164.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 153,549 shares of the company's stock valued at $2,517,000 after acquiring an additional 95,585 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Centuri by 6.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 14,673 shares of the company's stock worth $329,000 after purchasing an additional 890 shares in the last quarter. Legal & General Group Plc boosted its stake in Centuri by 126.8% in the second quarter. Legal & General Group Plc now owns 29,723 shares of the company's stock worth $667,000 after buying an additional 16,618 shares in the last quarter. Rhumbline Advisers grew its position in Centuri by 10.1% during the second quarter. Rhumbline Advisers now owns 24,188 shares of the company's stock valued at $543,000 after acquiring an additional 2,228 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of Centuri by 51.4% in the 2nd quarter. American Century Companies Inc. now owns 47,447 shares of the company's stock worth $1,065,000 after acquiring an additional 16,115 shares during the last quarter.

Centuri Trading Up 0.1%

NYSE:CTRI opened at $23.86 on Monday. The company's 50 day moving average price is $28.15 and its 200-day moving average price is $30.05. Centuri Holdings, Inc. has a 52 week low of $19.04 and a 52 week high of $42.99. The stock has a market cap of $2.41 billion, a price-to-earnings ratio of 76.98, a PEG ratio of 0.79 and a beta of 1.10. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.81.

Centuri (NYSE:CTRI - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.24 EPS for the quarter, beating analysts' consensus estimates of $0.21 by $0.03. Centuri had a return on equity of 5.85% and a net margin of 0.86%.The company had revenue of $959.53 million during the quarter, compared to analysts' expectations of $835.99 million. During the same quarter in the prior year, the business earned $0.19 earnings per share. Centuri's revenue for the quarter was up 32.9% compared to the same quarter last year. On average, equities research analysts forecast that Centuri Holdings, Inc. will post 0.61 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Weiss Ratings raised Centuri from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Tuesday, August 4th. Wall Street Zen lowered Centuri from a "buy" rating to a "hold" rating in a research note on Monday, July 20th. Wells Fargo & Company cut their target price on shares of Centuri from $37.00 to $29.00 and set an "overweight" rating on the stock in a report on Wednesday, August 5th. JPMorgan Chase & Co. lifted their target price on shares of Centuri from $26.00 to $29.00 and gave the stock an "underweight" rating in a research note on Friday, May 8th. Finally, UBS Group boosted their price objective on shares of Centuri from $33.00 to $36.00 and gave the company a "neutral" rating in a research report on Monday, May 11th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Centuri presently has a consensus rating of "Hold" and a consensus target price of $32.40.

Centuri Company Profile

Centuri Construction Group, Inc NYSE: CTRI is a heavy civil contractor specializing in water and wastewater infrastructure projects. The company delivers end-to-end services encompassing design-build, engineering, procurement and construction for water transmission mains, wastewater force mains, treatment facilities, pump and lift stations, and stormwater management systems.

Centuri’s core offerings include pipeline installation and rehabilitation, civil sitework, earthwork, structural concrete and slope protection.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source