Short Interest in Centuri Holdings, Inc. (NYSE:CTRI) Rises By 24.1%

Centuri Holdings, Inc. (NYSE:CTRI) was the recipient of a large increase in short interest in the month of March. As of March 31st, there was short interest totaling 3,541,704 shares, an increase of 24.1% from the March 15th total of 2,854,369 shares. Based on an average daily volume of 1,355,165 shares, the days-to-cover ratio is presently 2.6 days. Currently, 3.5% of the shares of the company are sold short.

Hedge Funds Weigh In On Centuri

Institutional investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd grew its stake in shares of Centuri by 13,385.7% during the third quarter. Caitong International Asset Management Co. Ltd now owns 1,888 shares of the company’s stock valued at $40,000 after purchasing an additional 1,874 shares during the last quarter. Amalgamated Bank lifted its stake in shares of Centuri by 288.1% during the third quarter. Amalgamated Bank now owns 2,278 shares of the company’s stock valued at $48,000 after acquiring an additional 1,691 shares during the period. CWM LLC boosted its holdings in Centuri by 59.7% in the fourth quarter. CWM LLC now owns 4,045 shares of the company’s stock valued at $102,000 after acquiring an additional 1,512 shares during the last quarter. State of Alaska Department of Revenue acquired a new stake in Centuri in the third quarter worth about $119,000. Finally, Tower Research Capital LLC TRC increased its position in Centuri by 121.7% in the second quarter. Tower Research Capital LLC TRC now owns 5,532 shares of the company’s stock worth $124,000 after purchasing an additional 3,037 shares during the period.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Wells Fargo & Company cut their price target on Centuri from $34.00 to $32.00 and set an “overweight” rating for the company in a report on Wednesday, April 1st. Weiss Ratings reissued a “sell (d+)” rating on shares of Centuri in a research report on Friday, March 27th. Finally, Cantor Fitzgerald lifted their price target on shares of Centuri from $35.25 to $37.40 and gave the stock an “overweight” rating in a research note on Wednesday, March 25th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $28.85.

Centuri Price Performance

Shares of CTRI traded up $1.17 during trading hours on Friday, hitting $33.78. The stock had a trading volume of 976,932 shares, compared to its average volume of 1,109,261. The stock has a market capitalization of $3.41 billion, a price-to-earnings ratio of 146.87, a P/E/G ratio of 1.31 and a beta of 0.73. Centuri has a 52 week low of $16.27 and a 52 week high of $34.10. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.78 and a quick ratio of 1.78. The company’s fifty day moving average is $30.75 and its two-hundred day moving average is $26.23.

Centuri (NYSE:CTRI) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.03). Centuri had a return on equity of 5.09% and a net margin of 0.76%.The firm had revenue of $858.60 million for the quarter, compared to analyst estimates of $740.62 million. During the same period in the previous year, the business posted $0.21 EPS. The business’s quarterly revenue was up 19.7% on a year-over-year basis. On average, analysts anticipate that Centuri will post 0.25 EPS for the current year.

About Centuri

Centuri Construction Group, Inc (NYSE: CTRI) is a heavy civil contractor specializing in water and wastewater infrastructure projects. The company delivers end-to-end services encompassing design-build, engineering, procurement and construction for water transmission mains, wastewater force mains, treatment facilities, pump and lift stations, and stormwater management systems.

Centuri’s core offerings include pipeline installation and rehabilitation, civil sitework, earthwork, structural concrete and slope protection.