Versant Capital Management Inc Takes Position in Centuri Holdings, Inc. (NYSE:CTRI)

Versant Capital Management Inc bought a new stake in shares of Centuri Holdings, Inc. (NYSE:CTRI - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 71,400 shares of the company's stock, valued at approximately $1,153,000. Versant Capital Management Inc owned about 0.08% of Centuri at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Rhumbline Advisers bought a new stake in Centuri in the 2nd quarter valued at about $300,000. Sandia Investment Management LP acquired a new stake in shares of Centuri in the second quarter valued at approximately $466,000. Point72 DIFC Ltd bought a new stake in shares of Centuri during the second quarter valued at approximately $657,000. Gabelli Funds LLC acquired a new position in shares of Centuri during the second quarter worth approximately $880,000. Finally, Squarepoint Ops LLC acquired a new position in shares of Centuri during the second quarter worth approximately $1,393,000.

Insider Buying and Selling at Centuri

In related news, Director William Fehrman bought 20,000 shares of Centuri stock in a transaction dated Wednesday, July 31st. The stock was acquired at an average cost of $16.50 per share, with a total value of $330,000.00. Following the completion of the acquisition, the director now directly owns 45,000 shares in the company, valued at approximately $742,500. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Centuri Price Performance

Centuri stock traded up $0.32 during midday trading on Tuesday, hitting $16.05. The company's stock had a trading volume of 348,022 shares, compared to its average volume of 514,618. Centuri Holdings, Inc. has a 12 month low of $14.47 and a 12 month high of $28.65. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 1.94. The business's 50-day simple moving average is $16.27.

Centuri (NYSE:CTRI - Get Free Report) last released its earnings results on Monday, July 29th. The company reported $0.20 EPS for the quarter, topping analysts' consensus estimates of $0.19 by $0.01. The business had revenue of $672.08 million during the quarter, compared to the consensus estimate of $760.55 million. The company's quarterly revenue was down 16.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Centuri Holdings, Inc. will post 0.43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on CTRI shares. JPMorgan Chase & Co. downgraded Centuri from a "neutral" rating to an "underweight" rating and cut their target price for the company from $19.00 to $16.00 in a research note on Monday. UBS Group cut shares of Centuri from a "buy" rating to a "neutral" rating and cut their price objective for the company from $30.00 to $17.00 in a research note on Tuesday, July 30th. Bank of America decreased their target price 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. KeyCorp began coverage on shares of Centuri in a research note on Thursday, June 27th. They set a "sector weight" rating on the stock. Finally, Wells Fargo & Company reduced their price target on shares of Centuri from $29.00 to $22.00 and set an "overweight" rating for the company in a research note on Tuesday, July 30th. Two research analysts have rated the stock with a sell rating, two have assigned 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 has a consensus rating of "Moderate Buy" and a consensus 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.