Centuri Holdings, Inc. (NYSE:CTRI) Short Interest Up 16.5% in September

Centuri Holdings, Inc. (NYSE:CTRI - Get Free Report) was the recipient of a large growth in short interest during the month of September. As of September 30th, there was short interest totalling 3,740,000 shares, a growth of 16.5% from the September 15th total of 3,210,000 shares. Based on an average daily trading volume, of 420,700 shares, the short-interest ratio is presently 8.9 days. Approximately 22.4% of the shares of the company are short sold.

Insider Activity

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

Institutional Investors Weigh In On Centuri

Hedge funds have recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA bought a new stake in shares of Centuri in the 2nd quarter worth approximately $33,619,000. Clearbridge Investments LLC bought a new stake in Centuri in the second quarter worth $5,587,000. Point72 Asset Management L.P. purchased a new stake in Centuri during the second quarter valued at about $4,339,000. Ghisallo Capital Management LLC purchased a new stake in Centuri during the second quarter valued at about $3,409,000. Finally, Maverick Capital Ltd. bought a new position in shares of Centuri during the second quarter valued at about $2,922,000.

Centuri Trading Up 4.6 %

CTRI traded up $0.82 on Wednesday, reaching $18.60. The company had a trading volume of 764,713 shares, compared to its average volume of 522,494. Centuri has a 52-week low of $14.47 and a 52-week high of $28.65. 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 business has a 50 day moving average of $16.43.

Centuri (NYSE:CTRI - Get Free Report) last posted its quarterly earnings data on Monday, July 29th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 firm's quarterly revenue was down 16.6% on a year-over-year basis. Sell-side analysts forecast that Centuri will post 0.43 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CTRI shares. Wells Fargo & Company cut their price target on Centuri from $29.00 to $22.00 and set an "overweight" rating for the company in a report on Tuesday, July 30th. KeyCorp initiated coverage on Centuri in a research report on Thursday, June 27th. They set a "sector weight" rating on the stock. Bank of America cut their price objective on shares of Centuri from $21.00 to $15.00 and set an "underperform" rating for the company in a research report on Tuesday, July 30th. JPMorgan Chase & Co. lowered shares of Centuri from a "neutral" rating to an "underweight" rating and decreased their target price for the stock from $19.00 to $16.00 in a report on Monday, October 7th. Finally, UBS Group cut shares of Centuri from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $30.00 to $17.00 in a research note on Tuesday, July 30th. Two analysts have rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $20.00.

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.

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