Centuri (NYSE:CTRI) Sees Unusually-High Trading Volume - Here's What Happened

Centuri Holdings, Inc. (NYSE:CTRI - Get Free Report) shares saw an uptick in 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 Upgrades and Downgrades

Several research firms recently issued reports on CTRI. UBS Group cut shares of Centuri from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $30.00 to $17.00 in a research report on Tuesday, July 30th. Wells Fargo & Company cut their price objective on shares of Centuri from $29.00 to $22.00 and set an "overweight" rating for the company in a research report on Tuesday, July 30th. KeyCorp began coverage on shares of Centuri in a research report on Thursday, June 27th. They set a "sector weight" rating for the company. JPMorgan Chase & Co. cut shares of Centuri from a "neutral" rating to an "underweight" rating and cut their price objective for the stock from $19.00 to $16.00 in a research report on Monday. Finally, Bank of America dropped their price target 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. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $20.00.

Centuri Stock Performance

The company's 50-day moving average price is $16.33. The company has a debt-to-equity ratio of 1.94, a quick ratio of 2.05 and a current ratio of 2.05.

Centuri (NYSE:CTRI - Get Free Report) last posted its quarterly earnings data on Monday, July 29th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.19 by $0.01. The business had revenue of $672.08 million during the quarter, compared to analysts' expectations of $760.55 million. Centuri's revenue for the quarter was down 16.6% compared to the same quarter last year. Equities research analysts anticipate that Centuri Holdings, Inc. will post 0.43 EPS for the current year.

Insider Activity

In other news, Director William Fehrman purchased 20,000 shares of the firm's 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 purchase, the director now directly owns 45,000 shares of the company's stock, valued at $742,500. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Institutional Trading of Centuri

Institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp purchased a new stake in shares of Centuri during the 2nd quarter worth approximately $2,757,000. Davidson Kempner Capital Management LP acquired a new position in shares of Centuri in the 2nd quarter valued at $1,500,000. Ghisallo Capital Management LLC acquired a new position in shares of Centuri in the 2nd quarter valued at $3,409,000. Point72 DIFC Ltd acquired a new position in shares of Centuri in the 2nd quarter valued at $657,000. Finally, Versant Capital Management Inc acquired a new position in shares of Centuri in the 3rd quarter valued at $1,153,000.

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.