Luxor Capital Group LP Sells 127,577 Shares of Centuri Holdings, Inc. $CTRI

Key Points

• Luxor Capital Group LP reduced its Centuri Holdings stake by 17.6% in the first quarter, selling 127,577 shares and leaving it with 596,723 shares valued at about $17.43 million.
• Centuri reported better-than-expected quarterly results, posting a smaller-than-expected loss of $0.02 per share and revenue of $688.69 million, up 31.5% year over year.
• Wall Street sentiment is mixed: analysts now have a consensus Hold rating on CTRI, with a consensus price target of $37.80, while recent price targets range from $29 to $46.

Luxor Capital Group LP cut its stake in Centuri Holdings, Inc. (NYSE:CTRI - Free Report) by 17.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 596,723 shares of the company's stock after selling 127,577 shares during the period. Centuri makes up 1.2% of Luxor Capital Group LP's holdings, making the stock its 15th largest position. Luxor Capital Group LP owned approximately 0.59% of Centuri worth $17,430,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP bought a new stake in shares of Centuri in the third quarter valued at about $78,222,000. Icahn Carl C grew its holdings in shares of Centuri by 32.2% during the fourth quarter. Icahn Carl C now owns 14,336,044 shares of the company's stock worth $361,985,000 after buying an additional 3,488,372 shares in the last quarter. Samlyn Capital LLC bought a new position in shares of Centuri during the third quarter worth about $36,838,000. Maverick Capital Ltd. bought a new position in shares of Centuri during the fourth quarter worth about $42,240,000. Finally, Balyasny Asset Management L.P. acquired a new stake in Centuri in the 2nd quarter valued at approximately $36,165,000.

Centuri Stock Performance

Shares of NYSE CTRI opened at $27.64 on Friday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.88 and a current ratio of 1.88. The stock has a 50 day moving average price of $29.20 and a 200 day moving average price of $30.15. The stock has a market capitalization of $2.79 billion, a PE ratio of 81.28, a price-to-earnings-growth ratio of 0.91 and a beta of 1.06. 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 posted its quarterly earnings results on Wednesday, May 6th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.05. Centuri had a return on equity of 5.64% and a net margin of 0.98%.The firm had revenue of $688.69 million for the quarter, compared to analyst estimates of $618.87 million. During the same quarter in the previous year, the firm earned ($0.12) EPS. The business's quarterly revenue was up 31.5% on a year-over-year basis. Analysts predict that Centuri Holdings, Inc. will post 0.61 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CTRI. Robert W. Baird set a $41.00 price target on shares of Centuri in a research note on Friday, May 8th. Cantor Fitzgerald boosted their price objective on shares of Centuri from $37.40 to $46.00 and gave the stock an "overweight" rating in a research report on Monday, May 11th. Wall Street Zen cut shares of Centuri from a "buy" rating to a "hold" rating in a report on Monday, July 20th. UBS Group raised their target price on shares of Centuri from $33.00 to $36.00 and gave the company a "neutral" rating in a research report on Monday, May 11th. Finally, 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 note on Friday, May 8th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price 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.

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.