Centuri (NYSE:CTRI) Shares Gap Up – Here’s Why

Centuri Holdings, Inc. (NYSE:CTRI) gapped up prior to trading on Monday . The stock had previously closed at $16.56, but opened at $17.52. Centuri shares last traded at $16.38, with a volume of 11,566 shares.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Centuri from $17.00 to $19.00 and gave the stock an “underweight” rating in a research note on Tuesday, January 28th. Robert W. Baird dropped their price target on Centuri from $23.00 to $22.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $19.00.

Centuri Stock Up 4.9 %

The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 1.70. The company has a market capitalization of $1.52 billion and a price-to-earnings ratio of -0.07. The business’s 50-day moving average is $18.93 and its 200-day moving average is $19.13.

Institutional Trading of Centuri

A number of hedge funds have recently modified their holdings of the stock. Rhumbline Advisers raised its position in Centuri by 5.7% during the fourth quarter. Rhumbline Advisers now owns 18,485 shares of the company’s stock valued at $357,000 after acquiring an additional 1,000 shares in the last quarter. Corebridge Financial Inc. grew its stake in shares of Centuri by 15.7% during the 4th quarter. Corebridge Financial Inc. now owns 8,459 shares of the company’s stock worth $163,000 after purchasing an additional 1,146 shares during the period. R Squared Ltd purchased a new position in shares of Centuri during the 4th quarter valued at approximately $26,000. JPMorgan Chase & Co. lifted its stake in shares of Centuri by 11.6% in the 4th quarter. JPMorgan Chase & Co. now owns 12,850 shares of the company’s stock valued at $248,000 after purchasing an additional 1,335 shares during the period. Finally, MetLife Investment Management LLC boosted its holdings in Centuri by 20.5% during the fourth quarter. MetLife Investment Management LLC now owns 9,933 shares of the company’s stock worth $192,000 after buying an additional 1,690 shares in the last quarter.

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.