Centuri (NYSE:CTRI) Sees Large Volume Increase – Here’s What Happened

Shares of Centuri Holdings, Inc. (NYSE:CTRI) saw strong trading volume on Friday . 297,762 shares were traded during trading, a decline of 42% from the previous session’s volume of 514,056 shares.The stock last traded at $17.78 and had previously closed at $17.33.

Analyst Ratings Changes

CTRI has been the topic of a number of recent analyst reports. UBS Group lowered shares of Centuri from a “buy” rating to a “neutral” rating and cut their price target for the stock from $30.00 to $17.00 in a report on Tuesday, July 30th. JPMorgan Chase & Co. downgraded Centuri from a “neutral” rating to an “underweight” rating and reduced their price target for the company from $19.00 to $16.00 in a report on Monday. KeyCorp began coverage on Centuri in a report on Thursday, June 27th. They issued a “sector weight” rating for the company. Wells Fargo & Company reduced their target price on Centuri from $29.00 to $22.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 30th. Finally, Bank of America dropped their price target on Centuri from $21.00 to $15.00 and set an “underperform” rating for the company in a research note on Tuesday, July 30th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.00.

Centuri Price Performance

The company has a debt-to-equity ratio of 1.94, a current ratio of 2.05 and a quick ratio of 2.05. The company has a 50-day moving average of $16.29.

Centuri (NYSE:CTRI) last issued its quarterly earnings results on Monday, July 29th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.01. The company had revenue of $672.08 million for the quarter, compared to the consensus estimate of $760.55 million. The business’s revenue was down 16.6% compared to the same quarter last year. On average, research analysts predict that Centuri Holdings, Inc. will post 0.43 earnings per share for the current year.

Insider Buying and Selling

In other news, Director William Fehrman acquired 20,000 shares of Centuri stock in a transaction that occurred on Wednesday, July 31st. The stock was bought at an average price of $16.50 per share, for a total transaction of $330,000.00. Following the completion of the transaction, the director now owns 45,000 shares in the company, valued at $742,500. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Institutional Trading of Centuri

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Versant Capital Management Inc purchased a new position in shares of Centuri during the third quarter valued at about $1,153,000. Ghisallo Capital Management LLC bought a new stake in Centuri in the 2nd quarter worth approximately $3,409,000. Clearbridge Investments LLC purchased a new stake in shares of Centuri during the 2nd quarter worth approximately $5,587,000. Point72 Asset Management L.P. bought a new position in shares of Centuri during the 2nd quarter valued at approximately $4,339,000. Finally, Maverick Capital Ltd. purchased a new position in shares of Centuri in the second quarter valued at $2,922,000.

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.