Renaissance Technologies LLC Buys 96,600 Shares of Centuri Holdings, Inc. $CTRI

Key Points

• Renaissance Technologies increased its Centuri stake by 11.5%, buying 96,600 shares to own 934,300 shares valued at approximately $27.3 million, or 0.93% of the company.
• Analyst sentiment remains mixed, with two Buy, one Hold, and two Sell ratings; Centuri has a consensus rating of Hold and an average price target of $37.80.
• Centuri shares opened at $24.31 after declining 6.6%, while the company’s latest quarterly results beat expectations, reporting a $0.02-per-share loss versus the projected $0.07 loss and 31.5% year-over-year revenue growth.

Renaissance Technologies LLC grew its stake in shares of Centuri Holdings, Inc. (NYSE:CTRI - Free Report) by 11.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 934,300 shares of the company's stock after purchasing an additional 96,600 shares during the period. Renaissance Technologies LLC owned approximately 0.93% of Centuri worth $27,291,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in CTRI. Caitong International Asset Management Co. Ltd raised its stake in Centuri by 13,385.7% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,888 shares of the company's stock worth $40,000 after buying an additional 1,874 shares during the period. KBC Group NV acquired a new stake in Centuri in the first quarter valued at approximately $67,000. CWM LLC increased its holdings in shares of 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 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% during the second quarter. Tower Research Capital LLC TRC now owns 5,532 shares of the company's stock worth $124,000 after purchasing an additional 3,037 shares during the period. Finally, Chicago Partners Investment Group LLC acquired a new position in shares of Centuri during the first quarter worth approximately $183,000.

Analyst Upgrades and Downgrades

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

Centuri Trading Down 6.6%

Shares of Centuri stock opened at $24.31 on Thursday. The stock has a fifty day simple moving average of $28.98 and a 200 day simple moving average of $30.16. 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 $2.45 billion, a P/E ratio of 71.51, a price-to-earnings-growth ratio of 0.86 and a beta of 1.06. 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 data 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 business had revenue of $688.69 million for the quarter, compared to analysts' expectations of $618.87 million. Centuri had a return on equity of 5.64% and a net margin of 0.98%.The business's revenue was up 31.5% on a year-over-year basis. During the same period last year, the business earned ($0.12) EPS. On average, sell-side analysts anticipate that Centuri Holdings, Inc. will post 0.61 earnings per share for the current fiscal year.

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.

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