Centuri (NYSE:CTRI) Stock Price Down 5.2% - Here's What Happened

Centuri Holdings, Inc. (NYSE:CTRI - Get Free Report)'s share price was down 5.2% on Wednesday . The stock traded as low as $17.51 and last traded at $17.80. Approximately 180,561 shares changed hands during trading, a decline of 53% from the average daily volume of 383,492 shares. The stock had previously closed at $18.78.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CTRI shares. Robert W. Baird cut their price target on shares of Centuri from $23.00 to $22.00 and set an "outperform" rating on the stock in a report on Thursday. JPMorgan Chase & Co. boosted their price target on shares of Centuri from $17.00 to $19.00 and gave the stock an "underweight" rating in a report on Tuesday, January 28th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $19.00.

Centuri Trading Up 3.5 %

The company has a debt-to-equity ratio of 1.70, a current ratio of 1.64 and a quick ratio of 1.64. The stock has a market capitalization of $1.54 billion and a PE ratio of -0.07. The stock's 50 day simple moving average is $20.62 and its two-hundred day simple moving average is $19.14.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers boosted its stake in Centuri by 5.7% in the fourth quarter. Rhumbline Advisers now owns 18,485 shares of the company's stock valued at $357,000 after acquiring an additional 1,000 shares during the last quarter. Corebridge Financial Inc. boosted its stake in Centuri by 15.7% in the fourth quarter. Corebridge Financial Inc. now owns 8,459 shares of the company's stock valued at $163,000 after acquiring an additional 1,146 shares during the last quarter. R Squared Ltd purchased a new position in Centuri in the fourth quarter valued at about $26,000. JPMorgan Chase & Co. lifted its stake in shares of Centuri by 11.6% during the 4th quarter. JPMorgan Chase & Co. now owns 12,850 shares of the company's stock valued at $248,000 after buying an additional 1,335 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its stake in shares of Centuri by 20.5% during the 4th quarter. MetLife Investment Management LLC now owns 9,933 shares of the company's stock valued at $192,000 after buying an additional 1,690 shares in the last quarter.

About Centuri

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.