Centuri Holdings, Inc.’s Lock-Up Period Will Expire on October 15th (NYSE:CTRI)

Centuri’s (NYSE:CTRI) lock-up period will end on Tuesday, October 15th. Centuri had issued 12,400,000 shares in its public offering on April 18th. The total size of the offering was $260,400,000 based on an initial share price of $21.00. After the end of Centuri’s lock-up period, company insiders and major shareholders will be able to sell their shares of the company.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Wells Fargo & Company dropped their target price on shares of Centuri from $29.00 to $22.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 30th. KeyCorp began coverage on Centuri in a research report on Thursday, June 27th. They issued a “sector weight” rating for the company. JPMorgan Chase & Co. cut shares of Centuri from a “neutral” rating to an “underweight” rating and cut their target price for the company from $19.00 to $16.00 in a report on Monday. UBS Group cut Centuri from a “buy” rating to a “neutral” rating and dropped their price target for the company from $30.00 to $17.00 in a research report on Tuesday, July 30th. Finally, Bank of America decreased their price objective on Centuri from $21.00 to $15.00 and set an “underperform” rating for the company in a research report on Tuesday, July 30th. Two analysts have rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $20.00.

Centuri Price Performance

CTRI opened at $16.94 on Thursday. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 1.94. Centuri has a 12 month low of $14.47 and a 12 month high of $28.65. The company has a 50 day simple moving average of $16.27.

Centuri (NYSE:CTRI) last released its earnings results on Monday, July 29th. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.01. The business had revenue of $672.08 million during the quarter, compared to analyst estimates of $760.55 million. Centuri’s quarterly revenue was down 16.6% compared to the same quarter last year. On average, equities research analysts predict that Centuri will post 0.43 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director William Fehrman purchased 20,000 shares of Centuri stock in a transaction dated Wednesday, July 31st. The stock was bought at an average cost of $16.50 per share, for a total transaction of $330,000.00. Following the transaction, the director now owns 45,000 shares in the company, valued at approximately $742,500. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Hedge Funds Weigh In On Centuri

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp acquired a new position in shares of Centuri during the 2nd quarter worth approximately $2,757,000. Davidson Kempner Capital Management LP purchased a new stake in shares of Centuri in the second quarter valued at $1,500,000. Ghisallo Capital Management LLC acquired a new stake in shares of Centuri during the second quarter valued at $3,409,000. Point72 DIFC Ltd acquired a new position in Centuri in the 2nd quarter valued at about $657,000. Finally, Versant Capital Management Inc purchased a new position in Centuri in the 3rd quarter valued at 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.