Centuri (NYSE:CTRI) Stock: Insider Carl Icahn Sells 625,570 Shares

Centuri Holdings, Inc. (NYSE:CTRI) major shareholder Carl Icahn sold 625,570 shares of the firm’s stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $21.00, for a total transaction of $13,136,970.00. Following the completion of the sale, the insider owned 13,710,474 shares in the company, valued at $287,919,954. The trade was a 4.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Centuri Stock Performance

Shares of CTRI stock opened at $21.81 on Friday. Centuri Holdings, Inc. has a 12-month low of $18.50 and a 12-month high of $42.99. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of 30.07, a price-to-earnings-growth ratio of 0.77 and a beta of 0.94. The business has a 50 day simple moving average of $20.50 and a 200 day simple moving average of $26.95. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.84 and a quick ratio of 1.84.

Centuri (NYSE:CTRI) last issued its quarterly earnings data on Thursday, November 5th. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.19. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Centuri had a net margin of 1.45% and a return on equity of 8.26%. The company’s revenue was up 40.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.19 earnings per share. On average, equities research analysts anticipate that Centuri Holdings, Inc. will post 0.58 EPS for the current year.

Hedge Funds Weigh In On Centuri

Several institutional investors and hedge funds have recently added to or reduced their stakes in CTRI. Fifth Third Bancorp increased its position in shares of Centuri by 99.4% during the third quarter. Fifth Third Bancorp now owns 1,340 shares of the company’s stock valued at $27,000 after purchasing an additional 668 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in Centuri during the second quarter worth $33,000. Sterling Capital Management LLC increased its holdings in Centuri by 847.9% in the 3rd quarter. Sterling Capital Management LLC now owns 2,948 shares of the company’s stock valued at $59,000 after buying an additional 2,637 shares during the period. Covestor Ltd increased its holdings in Centuri by 52.5% in the 3rd quarter. Covestor Ltd now owns 2,967 shares of the company’s stock valued at $59,000 after buying an additional 1,021 shares during the period. Finally, KBC Group NV acquired a new position in shares of Centuri in the 1st quarter valued at $67,000.

Analysts Set New Price Targets

CTRI has been the topic of several research reports. JPMorgan Chase & Co. dropped their price target on shares of Centuri from $23.00 to $22.00 and set an “underweight” rating on the stock in a research report on Monday, October 19th. Wells Fargo & Company decreased 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. Robert W. Baird reduced their price target on shares of Centuri from $33.00 to $26.00 and set an “outperform” rating for the company in a research report on Tuesday, September 29th. Wall Street Zen lowered shares of Centuri from a “buy” rating to a “hold” rating in a research note on Monday, July 20th. Finally, Bank of America dropped their price target on shares of Centuri from $33.50 to $21.00 and set an “underperform” rating on the stock in a research note on Friday, September 4th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $27.50.

More Centuri News

These are some of the CTRI news items that stood out recently:

• Positive Sentiment: Director Anne L. Mariucci bought 4,545 shares for about $100,000, increasing her stake by 5.07%. The purchase may signal confidence, though it is small relative to Icahn’s sales. SEC filing
• Neutral Sentiment: Recent operating results provide a positive fundamental backdrop: Centuri reported quarterly EPS of $0.42 versus a $0.23 consensus estimate, while revenue rose 40.2% year over year. The article also reports a consensus analyst rating of “Hold.”
• Negative Sentiment: Icahn sold about 1.5 million shares across transactions from November 9–12, including 324,700 shares on November 12. Although he still held more than 12 million shares afterward, the repeated selling—at prices ranging from $17.50 to $21—may raise concerns about near-term supply and confidence. Insider trading report

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.