Centuri (NYSE:CTRI) Shares Down 6% – Here’s Why

Centuri Holdings, Inc. (NYSE:CTRI)’s stock price traded down 6% during trading on Monday . The stock traded as low as $20.93 and last traded at $20.94. 254,996 shares traded hands during trading, a decline of 37% from the average session volume of 407,482 shares. The stock had previously closed at $22.28.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CTRI. Robert W. Baird upped their target price on Centuri from $19.00 to $21.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. upped their price objective on Centuri from $17.00 to $19.00 and gave the company an “underweight” rating in a report on Tuesday, January 28th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $18.80.

Centuri Price Performance

The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.64 and a current ratio of 1.64. The business has a 50-day moving average price of $20.88 and a 200 day moving average price of $18.79.

Hedge Funds Weigh In On Centuri

Hedge funds and other institutional investors have recently modified their holdings of the stock. Zimmer Partners LP grew its position in Centuri by 67.4% during the 3rd quarter. Zimmer Partners LP now owns 1,515,550 shares of the company’s stock worth $24,476,000 after purchasing an additional 610,138 shares in the last quarter. Needham Investment Management LLC boosted its position in shares of Centuri by 44.8% in the third quarter. Needham Investment Management LLC now owns 430,828 shares of the company’s stock worth $6,958,000 after buying an additional 133,200 shares during the period. State Street Corp grew its holdings in shares of Centuri by 37.3% during the third quarter. State Street Corp now owns 229,638 shares of the company’s stock valued at $3,709,000 after buying an additional 62,390 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Centuri by 3.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 111,364 shares of the company’s stock worth $1,799,000 after acquiring an additional 3,818 shares in the last quarter. Finally, Versant Capital Management Inc acquired a new stake in Centuri during the 3rd quarter worth about $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.