Centuri (NYSE:CTRI) Trading Down 3.8% – Here’s What Happened

Centuri Holdings, Inc. (NYSE:CTRI)’s stock price dropped 3.8% on Friday . The company traded as low as $16.39 and last traded at $15.82. Approximately 5,328 shares changed hands during mid-day trading, a decline of 99% from the average daily volume of 501,296 shares. The stock had previously closed at $16.45.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CTRI. JPMorgan Chase & Co. boosted their price objective on Centuri from $17.00 to $19.00 and gave the stock an “underweight” rating in a research note on Tuesday, January 28th. Robert W. Baird reduced their price target on shares of Centuri from $23.00 to $22.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Centuri presently has an average rating of “Moderate Buy” and an average price target of $19.00.

Centuri Stock Down 3.2 %

The firm’s 50 day moving average price is $20.31 and its 200-day moving average price is $19.13. The company has a market cap of $1.41 billion and a P/E ratio of -0.07. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 1.70.

Hedge Funds Weigh In On Centuri

Hedge funds have recently added to or reduced their stakes in the stock. R Squared Ltd bought a new stake in Centuri in the fourth quarter valued at approximately $26,000. KLP Kapitalforvaltning AS bought a new stake in shares of Centuri in the 4th quarter valued at $62,000. BNP Paribas Financial Markets increased its stake in Centuri by 39.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 6,827 shares of the company’s stock worth $110,000 after purchasing an additional 1,927 shares in the last quarter. MetLife Investment Management LLC raised its holdings in Centuri by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 8,243 shares of the company’s stock worth $133,000 after buying an additional 4,645 shares during the period. Finally, Corebridge Financial Inc. lifted its stake in Centuri by 15.7% in the fourth quarter. Corebridge Financial Inc. now owns 8,459 shares of the company’s stock valued at $163,000 after buying an additional 1,146 shares in the last quarter.

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.