Centuri Holdings, Inc. $CTRI Shares Purchased by NEOS Investment Management LLC

Key Points

• NEOS Investment Management increased its Centuri Holdings stake by 33.7% in the second quarter, adding 155,647 shares to own 617,145 shares valued at approximately $18.7 million.
• Centuri reported stronger-than-expected quarterly results, with earnings per share of $0.24 versus the $0.21 consensus estimate and revenue of $959.5 million, up 32.9% year over year.
• Shares opened at $20.59, well below their 12-month high of $42.99. Analysts maintain a consensus “Hold” rating with an average price target of $30.67.

NEOS Investment Management LLC grew its holdings in Centuri Holdings, Inc. (NYSE:CTRI - Free Report) by 33.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 617,145 shares of the company's stock after acquiring an additional 155,647 shares during the period. NEOS Investment Management LLC owned about 0.61% of Centuri worth $18,662,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in CTRI. Caitong International Asset Management Co. Ltd boosted its position in Centuri by 13,385.7% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,888 shares of the company's stock valued at $40,000 after buying an additional 1,874 shares during the last quarter. KBC Group NV purchased a new stake in shares of Centuri during the first quarter worth about $67,000. CWM LLC lifted its stake in shares of Centuri by 59.7% in the fourth quarter. CWM LLC now owns 4,045 shares of the company's stock worth $102,000 after acquiring an additional 1,512 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of Centuri by 121.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,532 shares of the company's stock valued at $124,000 after purchasing an additional 3,037 shares in the last quarter. Finally, Chicago Partners Investment Group LLC purchased a new position in shares of Centuri during the 1st quarter valued at approximately $183,000.

Centuri Stock Performance

Shares of CTRI opened at $20.59 on Friday. The business's fifty day moving average price is $24.75 and its 200 day moving average price is $29.06. Centuri Holdings, Inc. has a 12-month low of $19.04 and a 12-month high of $42.99. The stock has a market capitalization of $2.08 billion, a PE ratio of 66.42, a price-to-earnings-growth ratio of 0.67 and a beta of 1.01. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.82 and a quick ratio of 1.82.

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

Analyst Ratings Changes

A number of brokerages recently issued reports on CTRI. JPMorgan Chase & Co. lifted their price target 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. Weiss Ratings raised shares of Centuri from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, August 4th. UBS Group boosted their target price on shares of Centuri from $33.00 to $36.00 and gave the stock a "neutral" rating in a research report on Monday, May 11th. Robert W. Baird set a $33.00 target price on shares of Centuri in a research note on Wednesday, August 5th. Finally, Cantor Fitzgerald increased 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, August 19th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Centuri presently has a consensus rating of "Hold" and an average target price of $30.67.

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.

Want to see what other hedge funds are holding CTRI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Centuri Holdings, Inc. (NYSE:CTRI - Free Report).

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.