Centuri Holdings, Inc. (NYSE:CTRI) Sees Significant Growth in Short Interest

Centuri Holdings, Inc. (NYSE:CTRI) was the target of a significant increase in short interest in December. As of December 15th, there was short interest totaling 2,131,828 shares, an increase of 25.7% from the November 30th total of 1,696,103 shares. Currently, 2.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 2,481,080 shares, the days-to-cover ratio is currently 0.9 days. Based on an average daily trading volume, of 2,481,080 shares, the days-to-cover ratio is currently 0.9 days. Currently, 2.1% of the shares of the stock are sold short.

Insider Buying and Selling

In other news, CEO Christian Brown sold 7,108 shares of the company’s stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $24.51, for a total value of $174,217.08. Following the completion of the sale, the chief executive officer owned 22,089 shares of the company’s stock, valued at approximately $541,401.39. This represents a 24.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Carl C. Icahn bought 3,488,372 shares of Centuri stock in a transaction that occurred on Friday, November 14th. The shares were acquired at an average cost of $21.50 per share, for a total transaction of $74,999,998.00. Following the acquisition, the insider owned 14,336,044 shares in the company, valued at $308,224,946. The trade was a 32.16% increase in their position. The SEC filing for this purchase provides additional information. 0.15% of the stock is owned by company insiders.

Hedge Funds Weigh In On Centuri

Institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its stake in shares of Centuri by 6.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 14,673 shares of the company’s stock worth $329,000 after acquiring an additional 890 shares in the last quarter. Amalgamated Bank grew its stake in shares of Centuri by 288.1% in the third quarter. Amalgamated Bank now owns 2,278 shares of the company’s stock worth $48,000 after acquiring an additional 1,691 shares during the period. Caitong International Asset Management Co. Ltd grew 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 purchasing an additional 1,874 shares during the period. CWM LLC raised its stake in Centuri by 238.1% during the 2nd quarter. CWM LLC now owns 2,688 shares of the company’s stock valued at $60,000 after buying an additional 1,893 shares during the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of Centuri by 10.1% during the 2nd quarter. Rhumbline Advisers now owns 24,188 shares of the company’s stock valued at $543,000 after buying an additional 2,228 shares during the period.

Wall Street Analyst Weigh In

CTRI has been the subject of several analyst reports. UBS Group increased their target price on Centuri from $22.00 to $24.00 and gave the company a “neutral” rating in a report on Thursday, November 13th. Weiss Ratings reissued a “sell (d+)” rating on shares of Centuri in a research note on Monday. Finally, JPMorgan Chase & Co. lifted their target price on shares of Centuri from $20.00 to $22.00 and gave the stock an “underweight” rating in a research note on Thursday, November 6th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Centuri has a consensus rating of “Hold” and an average price target of $23.25.

Centuri Price Performance

Shares of Centuri stock opened at $25.50 on Wednesday. The business has a 50 day moving average of $22.93 and a 200 day moving average of $21.78. Centuri has a 52 week low of $14.45 and a 52 week high of $27.50. The company has a market cap of $2.54 billion, a PE ratio of 850.28, a P/E/G ratio of 1.80 and a beta of 0.94. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 1.54.

Centuri (NYSE:CTRI) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.13). Centuri had a net margin of 0.09% and a return on equity of 6.37%. The company had revenue of $848.55 million during the quarter, compared to the consensus estimate of $762.06 million. During the same quarter last year, the firm earned $0.06 EPS. The business’s revenue was up 18.1% on a year-over-year basis. As a group, equities research analysts forecast that Centuri will post 0.25 earnings per share for the current year.

About Centuri

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.