Bank of New York Mellon Corp Invests $7.83 Million in Centuri Holdings, Inc. $CTRI

Key Points

• Bank of New York Mellon acquired 258,820 Centuri shares worth approximately $7.83 million, giving it a 0.26% stake. Several other institutional investors also increased their positions.
• Analyst sentiment remains mixed: Centuri has an average “Hold” rating and a consensus price target of $32.60, with targets ranging from $29 to $36.
• Centuri exceeded quarterly expectations, reporting $0.24 in EPS versus $0.21 expected and $959.53 million in revenue, up 32.9% year over year. Shares opened at $20.50, near the company’s 52-week low.

Bank of New York Mellon Corp purchased a new stake in shares of Centuri Holdings, Inc. (NYSE:CTRI - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 258,820 shares of the company's stock, valued at approximately $7,827,000. Bank of New York Mellon Corp owned 0.26% of Centuri as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Icahn Carl C increased its position in shares of Centuri by 32.2% during the 4th quarter. Icahn Carl C now owns 14,336,044 shares of the company's stock valued at $361,985,000 after purchasing an additional 3,488,372 shares during the period. Hill City Capital LP lifted its holdings in shares of Centuri by 5.2% in the fourth quarter. Hill City Capital LP now owns 4,030,000 shares of the company's stock valued at $101,758,000 after buying an additional 200,000 shares during the period. Carronade Capital Management LP boosted its stake in Centuri by 30.7% during the fourth quarter. Carronade Capital Management LP now owns 3,988,664 shares of the company's stock valued at $100,714,000 after buying an additional 935,847 shares in the last quarter. Wellington Management Group LLP bought a new position in Centuri during the third quarter valued at about $78,222,000. Finally, Balyasny Asset Management L.P. grew its holdings in Centuri by 77.2% during the third quarter. Balyasny Asset Management L.P. now owns 2,855,064 shares of the company's stock worth $60,442,000 after acquiring an additional 1,243,451 shares during the period.

Analyst Ratings Changes

CTRI has been the topic of several research reports. Wall Street Zen cut shares of Centuri from a "buy" rating to a "hold" rating in a research report on Monday, July 20th. Cantor Fitzgerald lifted their price objective on shares of Centuri from $35.00 to $36.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 19th. JPMorgan Chase & Co. boosted their target price on shares of Centuri from $26.00 to $29.00 and gave the stock an "underweight" rating in a report on Friday, May 8th. UBS Group increased their target price on shares of Centuri from $33.00 to $36.00 and gave the company a "neutral" rating in a research note on Monday, May 11th. Finally, Weiss Ratings upgraded shares of Centuri from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, August 4th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Centuri presently has an average rating of "Hold" and an average target price of $32.60.

Centuri Stock Performance

Shares of CTRI opened at $20.50 on Friday. The company has a market capitalization of $2.07 billion, a PE ratio of 66.13, a PEG ratio of 0.67 and a beta of 1.01. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.82 and a current ratio of 1.82. The company's 50 day moving average price is $24.95 and its 200 day moving average price is $29.12. Centuri Holdings, Inc. has a 52 week low of $19.04 and a 52 week high of $42.99.

Centuri (NYSE:CTRI - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.21 by $0.03. The company had revenue of $959.53 million during the quarter, compared to the consensus estimate of $835.99 million. Centuri had a net margin of 0.86% and a return on equity of 5.85%. The company's revenue was up 32.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.19 EPS. Research analysts expect that Centuri Holdings, Inc. will post 0.62 EPS for the current fiscal year.

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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