Centuri (NYSE:CTRI) Shares Down 5.3% – Here’s Why

by · The Cerbat Gem

Shares of Centuri Holdings, Inc. (NYSE:CTRI – Get Free Report) dropped 5.3% during trading on Friday . The stock traded as low as $15.99 and last traded at $15.99. Approximately 211,468 shares traded hands during trading, a decline of 57% from the average daily volume of 495,784 shares. The stock had previously closed at $16.89.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Robert W. Baird cut their price objective on shares of Centuri from $23.00 to $22.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. JPMorgan Chase & Co. lifted their price target on Centuri from $17.00 to $19.00 and gave the company an “underweight” rating in a research note on Tuesday, January 28th. 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $19.00.

Get Our Latest Stock Analysis on CTRI

Centuri Stock Performance

The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 1.70. The stock has a market cap of $1.38 billion and a price-to-earnings ratio of -0.06. The firm’s 50-day moving average is $19.64 and its two-hundred day moving average is $19.10.

Hedge Funds Weigh In On Centuri

Several hedge funds and other institutional investors have recently made changes to their positions in CTRI. Oppenheimer Asset Management Inc. purchased a new stake in shares of Centuri during the third quarter worth approximately $334,000. Charles Schwab Investment Management Inc. raised its position in shares of Centuri by 3.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 111,364 shares of the company’s stock valued at $1,799,000 after buying an additional 3,818 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Centuri in the third quarter worth about $256,000. BNP Paribas Financial Markets boosted its position in Centuri by 39.3% during the third quarter. BNP Paribas Financial Markets now owns 6,827 shares of the company’s stock worth $110,000 after acquiring an additional 1,927 shares during the last quarter. Finally, MetLife Investment Management LLC grew its stake in Centuri by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 8,243 shares of the company’s stock valued at $133,000 after acquiring an additional 4,645 shares in the last quarter.

Centuri Company Profile

(Get Free Report)

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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