Centuri (NYSE:CTRI) Major Shareholder Carl Icahn Sells 324,700 Shares of Company Stock

Centuri Holdings, Inc. (NYSE:CTRI) major shareholder Carl Icahn sold 324,700 shares of the firm’s stock in a transaction dated Thursday, November 12th. The stock was sold at an average price of $17.50, for a total value of $5,682,250.00. Following the transaction, the insider directly owned 12,835,611 shares in the company, valued at approximately $224,623,192.50. The trade was a 2.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Centuri Stock Down 1.8%

CTRI opened at $22.26 on Friday. The business’s 50-day simple moving average is $20.48 and its 200-day simple moving average is $26.99. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.84 and a current ratio of 1.84. Centuri Holdings, Inc. has a one year low of $18.50 and a one year high of $42.99. The stock has a market capitalization of $2.25 billion, a P/E ratio of 39.74, a price-to-earnings-growth ratio of 0.78 and a beta of 0.94.

Centuri (NYSE:CTRI) last announced its earnings results on Thursday, November 5th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.19. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Centuri had a return on equity of 8.26% and a net margin of 1.45%. The business’s revenue was up 40.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.19 EPS. Analysts anticipate that Centuri Holdings, Inc. will post 0.58 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CTRI. Wells Fargo & Company decreased their price objective on Centuri from $28.00 to $24.00 and set an “overweight” rating for the company in a report on Friday, November 6th. Cantor Fitzgerald lifted their target price on shares of Centuri from $35.00 to $36.00 and gave the company an “overweight” rating in a report on Wednesday, August 19th. Bank of America reduced their price target on shares of Centuri from $33.50 to $21.00 and set an “underperform” rating for the company in a research report on Friday, September 4th. Robert W. Baird decreased their price target on shares of Centuri from $33.00 to $26.00 and set an “outperform” rating for the company in a research note on Tuesday, September 29th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Centuri from $23.00 to $22.00 and set an “underweight” rating on the stock in a research report on Monday, October 19th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Centuri currently has a consensus rating of “Hold” and an average price target of $27.50.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Horizon Kinetics Asset Management LLC lifted its holdings in shares of Centuri by 10.1% during the third quarter. Horizon Kinetics Asset Management LLC now owns 105,751 shares of the company’s stock worth $2,119,000 after purchasing an additional 9,708 shares during the period. Landscape Capital Management L.L.C. purchased a new position in Centuri in the 3rd quarter valued at $260,000. Norwood Investment Partners LP grew its position in Centuri by 24.8% in the 3rd quarter. Norwood Investment Partners LP now owns 377,000 shares of the company’s stock valued at $7,555,000 after buying an additional 75,000 shares during the last quarter. William Blair Investment Management LLC increased its stake in Centuri by 20.4% in the 3rd quarter. William Blair Investment Management LLC now owns 786,079 shares of the company’s stock valued at $15,753,000 after buying an additional 133,383 shares during the period. Finally, Fifth Third Bancorp increased its stake in Centuri by 99.4% in the 3rd quarter. Fifth Third Bancorp now owns 1,340 shares of the company’s stock valued at $27,000 after buying an additional 668 shares during the period.

Centuri Company Profile

Centuri Holdings, Inc. is a North American utility infrastructure services company that builds, maintains and upgrades systems used to deliver natural gas and electricity. Its work includes installing and replacing underground gas pipelines, constructing and maintaining electric distribution infrastructure, and providing related inspection, repair and emergency-response services. The company serves regulated utilities and other energy customers across the United States and Canada. Its operating businesses include NPL Construction, Neuco, Linetec Services and Riggs Distler, which provide capabilities spanning gas distribution, electric utility construction and broader infrastructure work.