Wellington Management Group LLP Decreases Stake in Centuri Holdings, Inc. $CTRI

Key Points

• Wellington Management reduced its Centuri stake by 14.7% in the second quarter, selling 285,318 shares and retaining 1.66 million shares valued at approximately $50.1 million, or 1.64% of the company.
• Analyst sentiment is mixed, with Centuri holding an average “Hold” rating and a consensus price target of $32.60. Recent target changes ranged from $29 to $36.
• Centuri reported quarterly earnings of $0.24 per share, exceeding estimates of $0.21, while revenue rose 32.9% year over year to $959.5 million. However, shares opened at $20.50, near the company’s 12-month low of $19.04.

Wellington Management Group LLP reduced its holdings in shares of Centuri Holdings, Inc. (NYSE:CTRI - Free Report) by 14.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,656,520 shares of the company's stock after selling 285,318 shares during the quarter. Wellington Management Group LLP owned 1.64% of Centuri worth $50,093,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Caitong International Asset Management Co. Ltd raised its position in Centuri by 13,385.7% in 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 last quarter. KBC Group NV purchased a new stake in shares of Centuri during the 1st quarter valued at about $67,000. CWM LLC grew its stake in shares of Centuri by 59.7% in the fourth quarter. CWM LLC now owns 4,045 shares of the company's stock worth $102,000 after acquiring an additional 1,512 shares during the period. Tower Research Capital LLC TRC grew its stake in shares of Centuri by 121.7% in the second quarter. Tower Research Capital LLC TRC now owns 5,532 shares of the company's stock worth $124,000 after acquiring an additional 3,037 shares during the period. Finally, Chicago Partners Investment Group LLC purchased a new position in shares of Centuri during the first quarter valued at approximately $183,000.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on CTRI shares. UBS Group increased their price objective 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. Wall Street Zen cut Centuri from a "buy" rating to a "hold" rating in a report on Monday, July 20th. JPMorgan Chase & Co. lifted their price objective on Centuri from $26.00 to $29.00 and gave the stock an "underweight" rating in a report on Friday, May 8th. Wells Fargo & Company reduced their price objective on Centuri from $37.00 to $29.00 and set an "overweight" rating for the company in a research report on Wednesday, August 5th. Finally, Cantor Fitzgerald increased their target price on Centuri from $35.00 to $36.00 and gave the company an "overweight" rating in a report on Wednesday, August 19th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Centuri currently has an average rating of "Hold" and an average target price of $32.60.

Centuri Trading Down 0.1%

Centuri stock opened at $20.50 on Friday. The firm has a 50 day moving average of $24.95 and a 200 day moving average of $29.12. The firm has a market capitalization of $2.07 billion, a price-to-earnings ratio of 66.13, a P/E/G ratio of 0.67 and a beta of 1.01. Centuri Holdings, Inc. has a 12-month low of $19.04 and a 12-month high of $42.99. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.81.

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