Bank of America Corp DE Has $16.21 Million Stock Holdings in Centuri Holdings, Inc. $CTRI

Key Points

• Bank of America reduced its Centuri stake by 17.4% in the first quarter, selling 116,627 shares and retaining 554,912 shares valued at approximately $16.21 million.
• Centuri reported quarterly EPS of $0.24, exceeding the $0.21 consensus estimate, while revenue rose 32.9% year over year to $959.53 million.
• CTRI shares opened at $21.82, below the analyst consensus price target of $32.60. Analysts’ overall rating remains Hold, with two Buy, two Hold, and one Sell rating.

Bank of America Corp DE decreased its stake in shares of Centuri Holdings, Inc. (NYSE:CTRI - Free Report) by 17.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 554,912 shares of the company's stock after selling 116,627 shares during the period. Bank of America Corp DE owned 0.55% of Centuri worth $16,209,000 at the end of the most recent quarter.

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

Centuri Price Performance

CTRI stock opened at $21.82 on Friday. The stock has a 50-day moving average price of $26.94 and a two-hundred day moving average price of $29.74. Centuri Holdings, Inc. has a 1 year low of $19.04 and a 1 year high of $42.99. The stock has a market cap of $2.20 billion, a PE ratio of 70.39, a price-to-earnings-growth ratio of 0.74 and a beta of 1.10. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.81.

Centuri (NYSE:CTRI - Get Free Report) last issued its quarterly 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. The company had revenue of $959.53 million for the quarter, compared to analyst estimates of $835.99 million. Centuri had a return on equity of 5.85% and a net margin of 0.86%.The company's quarterly revenue was up 32.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.19 earnings per share. Equities analysts forecast that Centuri Holdings, Inc. will post 0.62 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CTRI. JPMorgan Chase & Co. lifted their price objective on Centuri from $26.00 to $29.00 and gave the stock an "underweight" rating in a research note on Friday, May 8th. Robert W. Baird set a $33.00 target price on Centuri in a research report on Wednesday, August 5th. UBS Group upped their price target on Centuri from $33.00 to $36.00 and gave the company a "neutral" rating in a research note on Monday, May 11th. Weiss Ratings upgraded shares of Centuri from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, August 4th. Finally, Cantor Fitzgerald lifted their price target on shares of Centuri from $35.00 to $36.00 and gave the stock an "overweight" rating in a research report on Wednesday. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $32.60.

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.

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