Centuri Holdings, Inc. (NYSE:CTRI) Short Interest Up 9.6% in September

Centuri Holdings, Inc. (NYSE:CTRI) was the recipient of a significant growth in short interest in the month of September. As of September 15th, there was short interest totalling 3,210,000 shares, a growth of 9.6% from the August 31st total of 2,930,000 shares. Currently, 19.3% of the shares of the company are short sold. Based on an average trading volume of 604,100 shares, the days-to-cover ratio is currently 5.3 days.

Centuri Stock Down 3.1 %

CTRI traded down $0.50 on Tuesday, hitting $15.65. 152,216 shares of the company’s stock traded hands, compared to its average volume of 526,024. The firm has a 50 day simple moving average of $16.62. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 1.94. Centuri has a one year low of $14.47 and a one year high of $28.65.

Centuri (NYSE:CTRI) last released its earnings results on Monday, July 29th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.19 by $0.01. The company had revenue of $672.08 million during the quarter, compared to analysts’ expectations of $760.55 million. Centuri’s revenue was down 16.6% compared to the same quarter last year. Research analysts expect that Centuri will post 0.43 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CTRI. Wells Fargo & Company cut their price objective on shares of Centuri from $29.00 to $22.00 and set an “overweight” rating for the company in a research report on Tuesday, July 30th. Bank of America reduced their price target on Centuri from $21.00 to $15.00 and set an “underperform” rating for the company in a research report on Tuesday, July 30th. KeyCorp initiated coverage on Centuri in a research report on Thursday, June 27th. They set a “sector weight” rating on the stock. UBS Group lowered shares of Centuri from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $30.00 to $17.00 in a report on Tuesday, July 30th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Centuri from $28.00 to $19.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $20.60.

Insider Transactions at Centuri

In other news, Director William Fehrman purchased 20,000 shares of the stock in a transaction dated Wednesday, July 31st. The shares were purchased at an average cost of $16.50 per share, with a total value of $330,000.00. Following the acquisition, the director now directly owns 45,000 shares of the company’s stock, valued at $742,500. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp purchased a new stake in Centuri during the second quarter valued at $2,757,000. Davidson Kempner Capital Management LP bought a new stake in shares of Centuri in the 2nd quarter worth about $1,500,000. Point72 DIFC Ltd purchased a new stake in shares of Centuri during the 2nd quarter valued at about $657,000. Sandia Investment Management LP bought a new position in shares of Centuri in the 2nd quarter valued at about $466,000. Finally, Massachusetts Financial Services Co. MA purchased a new position in Centuri in the second quarter worth about $33,619,000.

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.