Centuri Holdings, Inc. $CTRI Stake Decreased by Conversant Capital LLC

Key Points

• Conversant Capital LLC cut its Centuri stake by 38.9% in the first quarter, selling 545,000 shares and leaving it with 855,000 shares worth about $24.98 million.
• Centuri reported better-than-expected quarterly results, posting a smaller-than-expected loss of $0.02 per share on revenue of $688.69 million, which was up 31.5% year over year.
• Wall Street sentiment remains mixed, with a consensus “Hold” rating and an average price target of $37.80, while recent analyst actions included a downgrade from Wall Street Zen and rating adjustments from JPMorgan and UBS.

Conversant Capital LLC lowered its position in Centuri Holdings, Inc. (NYSE:CTRI - Free Report) by 38.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 855,000 shares of the company's stock after selling 545,000 shares during the period. Centuri accounts for about 3.4% of Conversant Capital LLC's investment portfolio, making the stock its 6th largest holding. Conversant Capital LLC owned about 0.85% of Centuri worth $24,975,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd boosted its position in shares of Centuri by 13,385.7% during the third quarter. Caitong International Asset Management Co. Ltd now owns 1,888 shares of the company's stock valued at $40,000 after purchasing an additional 1,874 shares in the last quarter. KBC Group NV bought a new position in Centuri in the first quarter worth $67,000. CWM LLC lifted its position in Centuri by 59.7% during the fourth quarter. CWM LLC now owns 4,045 shares of the company's stock valued at $102,000 after buying an additional 1,512 shares during the period. Tower Research Capital LLC TRC lifted its position in Centuri by 121.7% during the second quarter. Tower Research Capital LLC TRC now owns 5,532 shares of the company's stock valued at $124,000 after buying an additional 3,037 shares during the period. Finally, Chicago Partners Investment Group LLC bought a new stake in shares of Centuri during the 1st quarter valued at $183,000.

Centuri Trading Down 0.2%

Centuri stock opened at $27.64 on Friday. Centuri Holdings, Inc. has a 12 month low of $19.04 and a 12 month high of $42.99. The company has a market capitalization of $2.79 billion, a price-to-earnings ratio of 81.28, a price-to-earnings-growth ratio of 0.91 and a beta of 1.06. The business's fifty day simple moving average is $29.20 and its two-hundred day simple moving average is $30.15. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.82.

Centuri (NYSE:CTRI - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.05. The firm had revenue of $688.69 million during the quarter, compared to the consensus estimate of $618.87 million. Centuri had a return on equity of 5.64% and a net margin of 0.98%.The company's revenue was up 31.5% on a year-over-year basis. During the same period last year, the company earned ($0.12) earnings per share. As a group, equities analysts predict that Centuri Holdings, Inc. will post 0.61 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CTRI shares. Wall Street Zen downgraded shares of Centuri from a "buy" rating to a "hold" rating in a research report on Monday, July 20th. JPMorgan Chase & Co. lifted their price target on shares of Centuri from $26.00 to $29.00 and gave the company an "underweight" rating in a research report on Friday, May 8th. UBS Group boosted their price objective on shares of Centuri from $33.00 to $36.00 and gave the stock a "neutral" rating in a research note on Monday, May 11th. Weiss Ratings restated a "sell (d+)" rating on shares of Centuri in a report on Wednesday, June 24th. Finally, Robert W. Baird set a $41.00 target price on shares of Centuri in a research note on Friday, May 8th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Centuri has a consensus rating of "Hold" and a consensus price target of $37.80.

About Centuri

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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