Centuri (NYSE:CTRI) Major Shareholder Sells 175,733 Shares of Stock

Key Points

• Carl Icahn sold 175,733 Centuri shares for about $3.47 million at an average price of $19.72, reducing his stake by 1.32%; he still directly owns approximately 13.16 million shares.
• Centuri reported quarterly earnings of $0.42 per share, beating the $0.23 analyst consensus, while revenue reached $1.19 billion and rose 40.2% year over year.
• Analysts’ consensus rating is Hold, with a $27.50 average price target. Shares recently traded at $22.26.

Centuri Holdings, Inc. (NYSE:CTRI - Get Free Report) major shareholder Carl Icahn sold 175,733 shares of the firm's stock in a transaction dated Wednesday, November 11th. The shares were sold at an average price of $19.72, for a total transaction of $3,465,454.76. Following the transaction, the insider directly owned 13,160,311 shares in the company, valued at approximately $259,521,332.92. The trade was a 1.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Major shareholders that own at least 10% of a company's shares are required to disclose their sales and purchases with the SEC.

Centuri Price Performance

Centuri stock traded down $0.40 during trading hours on Thursday, hitting $22.26. 1,090,991 shares of the company traded hands, compared to its average volume of 2,267,578. Centuri Holdings, Inc. has a 1-year low of $18.50 and a 1-year high of $42.99. The firm has a market cap of $2.25 billion, a P/E ratio of 39.74, a P/E/G ratio of 0.78 and a beta of 0.94. The firm's 50-day simple moving average is $20.48 and its two-hundred day simple moving average is $26.99. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.88.

Centuri (NYSE:CTRI - Get Free Report) last issued its quarterly earnings results on Thursday, November 5th. The company reported $0.42 earnings per share for the quarter, topping analysts' consensus estimates of $0.23 by $0.19. The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.04 billion. Centuri had a net margin of 1.45% and a return on equity of 8.26%. The business's revenue for the quarter was up 40.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.19 EPS. As a group, analysts forecast that Centuri Holdings, Inc. will post 0.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently commented on CTRI. Cantor Fitzgerald raised their price objective on shares of Centuri from $35.00 to $36.00 and gave the company an "overweight" rating in a research note on Wednesday, August 19th. Wells Fargo & Company cut their target price on Centuri from $28.00 to $24.00 and set an "overweight" rating for the company in a research report on Friday, November 6th. JPMorgan Chase & Co. cut their target price on Centuri from $23.00 to $22.00 and set an "underweight" rating for the company in a research report on Monday, October 19th. Robert W. Baird decreased their price target on Centuri from $33.00 to $26.00 and set an "outperform" rating for the company in a research note on Tuesday, September 29th. Finally, Weiss Ratings upgraded Centuri from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $27.50.

Institutional Investors Weigh In On Centuri

Several hedge funds and other institutional investors have recently bought and sold shares of CTRI. Fifth Third Bancorp raised its position in Centuri by 99.4% in the third quarter. Fifth Third Bancorp now owns 1,340 shares of the company's stock worth $27,000 after acquiring an additional 668 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of Centuri during the 2nd quarter valued at about $33,000. Sterling Capital Management LLC boosted its position in shares of Centuri by 847.9% during the 3rd quarter. Sterling Capital Management LLC now owns 2,948 shares of the company's stock valued at $59,000 after purchasing an additional 2,637 shares in the last quarter. Covestor Ltd boosted its position in shares of Centuri by 52.5% during the 3rd quarter. Covestor Ltd now owns 2,967 shares of the company's stock valued at $59,000 after purchasing an additional 1,021 shares in the last quarter. Finally, KBC Group NV bought a new position in shares of Centuri during the 1st quarter valued at about $67,000.

Centuri Company Profile

Centuri Holdings, Inc. is a North American utility infrastructure services company that builds, maintains and upgrades systems used to deliver natural gas and electricity. Its work includes installing and replacing underground gas pipelines, constructing and maintaining electric distribution infrastructure, and providing related inspection, repair and emergency-response services. The company serves regulated utilities and other energy customers across the United States and Canada. Its operating businesses include NPL Construction, Neuco, Linetec Services and Riggs Distler, which provide capabilities spanning gas distribution, electric utility construction and broader infrastructure work.

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