Franklin Resources Inc. Cuts Stock Position in Centuri Holdings, Inc. (NYSE:CTRI)

Franklin Resources Inc. trimmed its stake in shares of Centuri Holdings, Inc. (NYSE:CTRI) by 83.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 149,600 shares of the company’s stock after selling 736,449 shares during the quarter. Franklin Resources Inc.’s holdings in Centuri were worth $2,633,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Bank of New York Mellon Corp purchased a new position in Centuri in the 2nd quarter valued at about $2,757,000. Davidson Kempner Capital Management LP acquired a new position in shares of Centuri during the second quarter valued at approximately $1,500,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Centuri in the third quarter worth approximately $211,000. Ghisallo Capital Management LLC purchased a new stake in shares of Centuri during the second quarter worth approximately $3,409,000. Finally, Point72 DIFC Ltd acquired a new position in Centuri in the 2nd quarter valued at $657,000.

Centuri Stock Performance

Centuri stock opened at $20.20 on Thursday. The firm has a 50 day simple moving average of $20.04 and a 200-day simple moving average of $19.08. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.64 and a quick ratio of 1.64. Centuri Holdings, Inc. has a 1-year low of $14.47 and a 1-year high of $28.65.

Analyst Upgrades and Downgrades

CTRI has been the subject of a number of research reports. Robert W. Baird upped their target price on shares of Centuri from $19.00 to $21.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. increased their price objective on shares of Centuri from $16.00 to $17.00 and gave the company an “underweight” rating in a report on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $18.40.

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.