Needham Investment Management LLC Purchases 16,800 Shares of Centuri Holdings, Inc. (NYSE:CTRI)

Needham Investment Management LLC raised its holdings in shares of Centuri Holdings, Inc. (NYSE:CTRI - Free Report) by 3.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 447,628 shares of the company's stock after purchasing an additional 16,800 shares during the period. Needham Investment Management LLC owned 0.51% of Centuri worth $8,644,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CTRI. R Squared Ltd purchased a new position in shares of Centuri during the 4th quarter worth approximately $26,000. KLP Kapitalforvaltning AS purchased a new position in shares of Centuri during the 4th quarter worth approximately $62,000. Corebridge Financial Inc. grew its stake in shares of Centuri by 15.7% in the 4th quarter. Corebridge Financial Inc. now owns 8,459 shares of the company's stock worth $163,000 after buying an additional 1,146 shares during the last quarter. Deutsche Bank AG grew its stake in shares of Centuri by 31.4% in the 4th quarter. Deutsche Bank AG now owns 8,659 shares of the company's stock worth $167,000 after buying an additional 2,068 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Centuri by 27.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,625 shares of the company's stock valued at $186,000 after acquiring an additional 2,054 shares in the last quarter.

Analyst Ratings Changes

Several equities analysts recently issued reports on CTRI shares. JPMorgan Chase & Co. upped their price objective on Centuri from $17.00 to $19.00 and gave the company an "underweight" rating in a research report on Tuesday, January 28th. Wells Fargo & Company upped their price objective on Centuri from $18.00 to $22.00 and gave the company an "overweight" rating in a research report on Tuesday. Finally, Robert W. Baird lowered their price objective on Centuri from $23.00 to $22.00 and set an "outperform" rating on the stock in a research report on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $19.00.

Centuri Stock Performance

NYSE:CTRI traded down $0.45 on Friday, hitting $19.52. The stock had a trading volume of 285,836 shares, compared to its average volume of 432,781. Centuri Holdings, Inc. has a 52-week low of $14.46 and a 52-week high of $28.65. The business's 50-day simple moving average is $17.59 and its two-hundred day simple moving average is $19.33. The stock has a market cap of $1.73 billion and a price-to-earnings ratio of 976.00. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 1.70.

Centuri (NYSE:CTRI - Get Free Report) last announced its earnings results on Monday, May 12th. The company reported ($0.12) EPS for the quarter, topping analysts' consensus estimates of ($0.14) by $0.02. The company had revenue of $550.08 million for the quarter, compared to analysts' expectations of $534.41 million. Centuri had a negative return on equity of 55.33% and a negative net margin of 8.90%. Centuri's quarterly revenue was up 4.2% on a year-over-year basis. As a group, research analysts predict that Centuri Holdings, Inc. will post 0.25 earnings per share for the current year.

Centuri Profile

Centuri Holdings, Inc operates as a utility infrastructure services company in North America. It offers gas utility services, including maintenance, repair, installation, and replacement services for natural gas local distribution utility companies with focus on the modernization of infrastructure. The company also provides electric utility services comprising design, maintenance and repair, upgrade, and expansion services for transmission and distribution infrastructure.