Reinhart Partners LLC. Purchases 3,829,404 Shares of Centuri Holdings, Inc. $CTRI

Key Points

• Reinhart Partners acquired 3.83 million Centuri shares worth approximately $76.7 million, making the utility-infrastructure company 1.9% of its portfolio and representing about 3.79% of Centuri’s outstanding stock.
• Centuri reported quarterly EPS of $0.24, beating estimates of $0.21, while revenue rose 32.9% year over year to $959.5 million. The stock was trading near $20.91, close to its 12-month low of $19.03.
• Analyst sentiment remains mixed, with an average rating of Hold and a consensus price target of $29.50; recent actions included Bank of America lowering its target to $21 and Weiss Ratings downgrading the stock to Sell.

Reinhart Partners LLC. acquired a new stake in shares of Centuri Holdings, Inc. (NYSE:CTRI - Free Report) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 3,829,404 shares of the company's stock, valued at approximately $76,741,000. Centuri accounts for about 1.9% of Reinhart Partners LLC.'s investment portfolio, making the stock its 25th biggest holding. Reinhart Partners LLC. owned approximately 3.79% of Centuri at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. bought a new stake in shares of Centuri during the 2nd quarter valued at about $23,153,000. Empyrean Capital Partners LP purchased a new stake in Centuri in the fourth quarter worth about $14,594,000. Verbena Value LP lifted its holdings in Centuri by 31.3% in the first quarter. Verbena Value LP now owns 1,771,457 shares of the company's stock worth $51,744,000 after buying an additional 422,593 shares during the period. Dimensional Fund Advisors LP boosted its position in Centuri by 46.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 890,022 shares of the company's stock valued at $25,998,000 after acquiring an additional 281,264 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in Centuri during the 2nd quarter valued at approximately $7,827,000.

Centuri Stock Performance

Centuri stock opened at $20.91 on Friday. Centuri Holdings, Inc. has a twelve month low of $19.03 and a twelve month high of $42.99. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $2.11 billion, a P/E ratio of 67.44, a PEG ratio of 0.68 and a beta of 1.01. The stock's 50 day moving average is $21.23 and its 200 day moving average is $27.29.

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

Analysts Set New Price Targets

A number of research analysts have recently commented on CTRI shares. Weiss Ratings cut Centuri from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Thursday. Bank of America lowered their price objective on Centuri from $33.50 to $21.00 and set an "underperform" rating for the company in a research report on Friday, September 4th. Cantor Fitzgerald boosted their target price on shares of Centuri from $35.00 to $36.00 and gave the company an "overweight" rating in a report on Wednesday, August 19th. Robert W. Baird reduced their target price on shares of Centuri from $33.00 to $26.00 and set an "outperform" rating on the stock in a research report on Tuesday, September 29th. Finally, Wall Street Zen lowered shares of Centuri from a "buy" rating to a "hold" rating in a research note on Monday, July 20th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $29.50.

Insider Activity

In related news, Director Dustin DeMaria purchased 5,200 shares of the stock in a transaction dated Friday, September 18th. The stock was purchased at an average price of $19.27 per share, with a total value of $100,204.00. Following the transaction, the director directly owned 12,936 shares in the company, valued at $249,276.72. This trade represents a 67.22% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.33% of the stock is currently owned by corporate insiders.

Centuri Profile

Centuri Holdings, Inc NYSE: CTRI is an infrastructure services company that supports the development, maintenance and modernization of essential utility systems in the United States and Canada. Its customers primarily include natural gas and electric utilities, municipalities and other infrastructure owners.

The company provides construction and maintenance services for gas distribution networks, electric transmission and distribution systems, and other underground utility infrastructure.

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