Russell Investments Group Ltd. Sells 39,408 Shares of Centuri Holdings, Inc. $CTRI

Key Points

• Russell Investments Group Ltd. reduced its stake in Centuri Holdings, Inc. by 53.8%, now holding 33,795 shares valued at $554,000.
• Several institutional investors, including JPMorgan Chase and Wells Fargo, have increased their holdings in Centuri, indicating varied investor sentiment.
• Centuri's recent earnings report showed a missed EPS estimate of $0.19 compared to the expected $0.21, despite a 7.7% year-over-year revenue growth.

Russell Investments Group Ltd. cut its stake in shares of Centuri Holdings, Inc. (NYSE:CTRI - Free Report) by 53.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,795 shares of the company's stock after selling 39,408 shares during the period. Russell Investments Group Ltd.'s holdings in Centuri were worth $554,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Deutsche Bank AG grew its stake in Centuri by 5.6% in the first quarter. Deutsche Bank AG now owns 9,143 shares of the company's stock valued at $150,000 after acquiring an additional 484 shares during the period. JPMorgan Chase & Co. grew its stake in Centuri by 11.6% in the fourth quarter. JPMorgan Chase & Co. now owns 12,850 shares of the company's stock valued at $248,000 after acquiring an additional 1,335 shares during the period. MetLife Investment Management LLC grew its stake in Centuri by 20.5% in the fourth quarter. MetLife Investment Management LLC now owns 9,933 shares of the company's stock valued at $192,000 after acquiring an additional 1,690 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Centuri by 27.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,625 shares of the company's stock valued at $186,000 after purchasing an additional 2,054 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its holdings in shares of Centuri by 12.5% in the fourth quarter. Nuveen Asset Management LLC now owns 28,312 shares of the company's stock valued at $547,000 after purchasing an additional 3,140 shares in the last quarter.

Analysts Set New Price Targets

Several research firms recently issued reports on CTRI. JPMorgan Chase & Co. upped their target price on Centuri from $18.00 to $19.00 and gave the stock an "underweight" rating in a report on Tuesday, July 22nd. Wells Fargo & Company upped their target price on Centuri from $22.00 to $25.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $22.00.

Centuri Price Performance

NYSE:CTRI traded up $0.21 during trading hours on Friday, reaching $21.62. 6,520,941 shares of the company were exchanged, compared to its average volume of 2,516,141. The company has a market capitalization of $1.92 billion, a P/E ratio of -720.29, a P/E/G ratio of 1.04 and a beta of 1.12. Centuri Holdings, Inc. has a 1-year low of $14.45 and a 1-year high of $24.60. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.72 and a quick ratio of 1.72. The business has a 50 day moving average of $21.05 and a 200 day moving average of $19.48.

Centuri (NYSE:CTRI - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.21 by ($0.02). The company had revenue of $724.05 million for the quarter, compared to analyst estimates of $702.35 million. Centuri had a positive return on equity of 4.74% and a negative net margin of 0.12%.The company's quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.20 EPS. Research analysts forecast that Centuri Holdings, Inc. will post 0.25 EPS for the current year.

Centuri Profile

Centuri Holdings, Inc operates as a utility infrastructure services company in North America. It offers gas utility services, including maintenance, repair, installation, and replacement services for natural gas local distribution utility companies with focus on the modernization of infrastructure. The company also provides electric utility services comprising design, maintenance and repair, upgrade, and expansion services for transmission and distribution infrastructure.