Short Interest in Centuri Holdings, Inc. (NYSE:CTRI) Drops By 17.5%

Key Points

• Short interest in Centuri fell 17.5% to 2,921,615 shares as of April 15, representing about 2.9% of shares sold short and a days-to-cover ratio of 3.1.
• Shares traded up 6.4% to $37.45 (near its 52-week high) giving a market cap of $3.78 billion and a high P/E of 162.41, suggesting a relatively rich valuation.
• Centuri reported a quarterly EPS miss ($0.17 vs. $0.20 expected) but revenue beat at $858.6M, up 19.7% year-over-year; analysts remain split (2 Buys, 1 Hold, 2 Sells) with a consensus rating of "Hold" and an average price target of $28.85.

Centuri Holdings, Inc. (NYSE:CTRI - Get Free Report) was the recipient of a significant decrease in short interest in the month of April. As of April 15th, there was short interest totaling 2,921,615 shares, a decrease of 17.5% from the March 31st total of 3,541,704 shares. Based on an average daily trading volume, of 936,155 shares, the days-to-cover ratio is currently 3.1 days. Currently, 2.9% of the company's shares are sold short.

Analyst Upgrades and Downgrades

CTRI has been the topic of several recent analyst reports. Wells Fargo & Company reduced their price target on Centuri from $34.00 to $32.00 and set an "overweight" rating on the stock in a report on Wednesday, April 1st. Weiss Ratings reiterated a "sell (d+)" rating on shares of Centuri in a report on Friday, March 27th. Finally, Cantor Fitzgerald increased their price target on Centuri from $35.25 to $37.40 and gave the stock an "overweight" rating in a report on Wednesday, March 25th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Centuri has a consensus rating of "Hold" and an average price target of $28.85.

Centuri Trading Up 6.4%

CTRI traded up $2.27 during trading on Thursday, hitting $37.45. 837,848 shares of the stock were exchanged, compared to its average volume of 1,295,034. The firm has a 50 day simple moving average of $31.30 and a 200 day simple moving average of $27.05. The firm has a market cap of $3.78 billion, a price-to-earnings ratio of 162.41, a P/E/G ratio of 1.47 and a beta of 0.73. Centuri has a 1 year low of $17.97 and a 1 year high of $37.55. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.78 and a current ratio of 1.78.

Centuri (NYSE:CTRI - Get Free Report) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.03). The firm had revenue of $858.60 million for the quarter, compared to analysts' expectations of $740.62 million. Centuri had a return on equity of 5.09% and a net margin of 0.76%.The company's revenue for the quarter was up 19.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.21 earnings per share. As a group, equities analysts expect that Centuri will post 0.59 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd increased its holdings 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 purchasing an additional 1,874 shares during the period. Amalgamated Bank boosted its position in shares of Centuri by 288.1% in the 3rd quarter. Amalgamated Bank now owns 2,278 shares of the company's stock worth $48,000 after purchasing an additional 1,691 shares in the last quarter. CWM LLC boosted its position in shares of Centuri by 59.7% in the 4th quarter. CWM LLC now owns 4,045 shares of the company's stock worth $102,000 after purchasing an additional 1,512 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in Centuri by 121.7% during the 2nd 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, State of Alaska Department of Revenue acquired a new stake in Centuri during the 3rd quarter worth about $119,000.

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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