Centuri (NYSE:CTRI) Stock Price Down 5.3% – Here’s What Happened

Centuri Holdings, Inc. (NYSE:CTRI)’s share price dropped 5.3% during mid-day trading on Friday . The company traded as low as $15.99 and last traded at $15.99. Approximately 211,468 shares traded hands during mid-day trading, a decline of 57% from the average daily volume of 495,784 shares. The stock had previously closed at $16.89.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of Centuri from $17.00 to $19.00 and gave the stock an “underweight” rating in a research report on Tuesday, January 28th. Robert W. Baird dropped their target price on shares of Centuri from $23.00 to $22.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. Two 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 company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $19.00.

Centuri Stock 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 firm’s 50 day moving average is $19.57 and its 200-day moving average is $19.11. The stock has a market capitalization of $1.42 billion and a price-to-earnings ratio of -0.07.

Hedge Funds Weigh In On Centuri

Several large investors have recently made changes to their positions in CTRI. R Squared Ltd acquired a new position in Centuri during the fourth quarter worth $26,000. KLP Kapitalforvaltning AS acquired a new position in Centuri during the fourth quarter worth $62,000. BNP Paribas Financial Markets raised its position in Centuri by 39.3% during the third quarter. BNP Paribas Financial Markets now owns 6,827 shares of the company’s stock worth $110,000 after acquiring an additional 1,927 shares during the period. MetLife Investment Management LLC raised its position in Centuri by 129.1% during the third quarter. MetLife Investment Management LLC now owns 8,243 shares of the company’s stock worth $133,000 after acquiring an additional 4,645 shares during the period. Finally, Corebridge Financial Inc. raised its position in Centuri by 15.7% during the fourth quarter. Corebridge Financial Inc. now owns 8,459 shares of the company’s stock worth $163,000 after acquiring an additional 1,146 shares during the period.

About Centuri

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.