Insider Buying: Centuri (NYSE:CTRI) Major Shareholder Purchases 3,488,372 Shares of Stock

Centuri Holdings, Inc. (NYSE:CTRI) major shareholder Carl Icahn bought 3,488,372 shares of the stock in a transaction on Friday, November 14th. The stock was purchased at an average price of $21.50 per share, with a total value of $74,999,998.00. Following the completion of the purchase, the insider owned 14,336,044 shares of the company’s stock, valued at $308,224,946. This represents a 32.16% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Centuri Stock Performance

Shares of Centuri stock traded down $0.07 during midday trading on Friday, hitting $20.88. The company had a trading volume of 3,019,893 shares, compared to its average volume of 1,131,982. The stock has a market cap of $1.85 billion, a price-to-earnings ratio of 696.07, a PEG ratio of 1.55 and a beta of 1.08. Centuri Holdings, Inc. has a 12-month low of $14.45 and a 12-month high of $24.60. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 1.54. The company has a fifty day simple moving average of $21.08 and a 200 day simple moving average of $20.89.

Centuri (NYSE:CTRI) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.13). Centuri had a return on equity of 6.37% and a net margin of 0.09%.The firm had revenue of $848.55 million for the quarter, compared to analyst estimates of $762.06 million. During the same period in the prior year, the firm posted $0.06 EPS. The business’s revenue was up 18.1% compared to the same quarter last year. Centuri has set its FY 2025 guidance at EPS. As a group, analysts predict that Centuri Holdings, Inc. will post 0.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Amalgamated Bank boosted its stake in Centuri by 288.1% during the third quarter. Amalgamated Bank now owns 2,278 shares of the company’s stock worth $48,000 after buying an additional 1,691 shares during the period. CWM LLC grew its stake in shares of Centuri by 238.1% in the second quarter. CWM LLC now owns 2,688 shares of the company’s stock worth $60,000 after acquiring an additional 1,893 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in Centuri by 121.7% in the second quarter. Tower Research Capital LLC TRC now owns 5,532 shares of the company’s stock valued at $124,000 after purchasing an additional 3,037 shares during the period. State of Alaska Department of Revenue purchased a new position in shares of Centuri in the 3rd quarter valued at about $119,000. Finally, State of Wyoming purchased a new position in Centuri in the third quarter worth approximately $128,000.

Analyst Ratings Changes

CTRI has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their target price on Centuri from $20.00 to $22.00 and gave the company an “underweight” rating in a research report on Thursday, November 6th. Weiss Ratings restated a “sell (e+)” rating on shares of Centuri in a research report on Wednesday, November 5th. Finally, UBS Group boosted their price objective on Centuri from $22.00 to $24.00 and gave the stock a “neutral” rating in a research note on Thursday. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $23.25.

Centuri Company 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.