Baird Financial Group Inc. Purchases Shares of 84,742 Centuri Holdings, Inc. $CTRI

Key Points

• Baird Financial Group acquired 84,742 Centuri shares worth approximately $2.56 million, representing about 0.08% of the company. Several other institutional investors also initiated or increased positions.
• Analyst sentiment is mixed, with Centuri holding an overall “Hold” consensus and an average price target of $30.67. Recent targets range from $21 to $36, including a Bank of America downgrade to “Underperform.”
• Centuri reported quarterly EPS of $0.24, beating estimates of $0.21, while revenue rose 32.9% year over year to $959.53 million. Despite the earnings beat, shares opened at $19.14, near their 52-week low of $19.03.

Baird Financial Group Inc. acquired a new stake in shares of Centuri Holdings, Inc. (NYSE:CTRI - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 84,742 shares of the company's stock, valued at approximately $2,563,000. Baird Financial Group Inc. owned about 0.08% of Centuri at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. KBC Group NV purchased a new stake in Centuri in the first quarter valued at approximately $67,000. Chicago Partners Investment Group LLC acquired a new position in Centuri during the first quarter worth approximately $183,000. Jefferies Financial Group Inc. purchased a new position in Centuri during the fourth quarter worth approximately $229,000. Odyssean LLC purchased a new position in Centuri during the second quarter worth approximately $318,000. Finally, Group One Trading LLC boosted its holdings in shares of Centuri by 4,144.4% in the 1st quarter. Group One Trading LLC now owns 11,842 shares of the company's stock valued at $346,000 after purchasing an additional 11,563 shares during the last quarter.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Robert W. Baird set a $33.00 price objective on shares of Centuri in a research note on Wednesday, August 5th. Bank of America cut their target price on Centuri from $33.50 to $21.00 and set an "underperform" rating on the stock in a research report on Friday, September 4th. Weiss Ratings upgraded Centuri from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, August 4th. Cantor Fitzgerald boosted their price target on Centuri from $35.00 to $36.00 and gave the company an "overweight" rating in a research report on Wednesday, August 19th. Finally, Wells Fargo & Company dropped their price target on Centuri from $37.00 to $29.00 and set an "overweight" rating for the company in a research note on Wednesday, August 5th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have 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 $30.67.

Centuri Price Performance

CTRI opened at $19.14 on Thursday. Centuri Holdings, Inc. has a 52-week low of $19.03 and a 52-week high of $42.99. The company has a 50 day moving average of $23.45 and a two-hundred day moving average of $28.42. The company has a market cap of $1.93 billion, a P/E ratio of 61.73, a P/E/G ratio of 0.62 and a beta of 1.01. 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 issued its earnings results 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 net margin of 0.86% and a return on equity of 5.85%. The business had revenue of $959.53 million for the quarter, compared to the consensus estimate of $835.99 million. During the same quarter last year, the firm posted $0.19 EPS. The business's revenue for the quarter was up 32.9% compared to the same quarter last year. On average, analysts expect that Centuri Holdings, Inc. will post 0.62 earnings per share for the current year.

About Centuri

Centuri Group, Inc is a North American utility infrastructure services company that supports the construction, maintenance and modernization of energy networks. The company primarily serves natural gas and electric utilities, providing services across the infrastructure life cycle, from initial engineering and installation to repair, replacement and ongoing maintenance.

Its capabilities include gas distribution construction, electric transmission and distribution work, pipeline integrity services, underground utility installation, emergency response and related engineering and field services.

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.