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

Centuri Holdings, Inc. (NYSE:CTRI)’s stock price dropped 5.3% during trading on Friday . The company traded as low as $15.99 and last traded at $15.99. Approximately 211,468 shares changed 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.

Analysts Set New Price Targets

CTRI has been the subject of a number of recent research reports. 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 lowered their target price on shares of Centuri from $23.00 to $22.00 and set an “outperform” rating for the company in a report 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $19.00.

Centuri Stock Down 5.3 %

The business’s fifty day moving average is $19.57 and its two-hundred day moving average is $19.11. The company has a market cap of $1.42 billion and a P/E ratio of -0.07. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.64 and a current ratio of 1.64.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CTRI. Charles Schwab Investment Management Inc. increased its position in Centuri by 3.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 111,364 shares of the company’s stock valued at $1,799,000 after purchasing an additional 3,818 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in Centuri during the 3rd quarter valued at about $256,000. BNP Paribas Financial Markets increased its position in Centuri by 39.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 6,827 shares of the company’s stock valued at $110,000 after purchasing an additional 1,927 shares during the period. MetLife Investment Management LLC grew its position in shares of Centuri by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 8,243 shares of the company’s stock worth $133,000 after buying an additional 4,645 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Centuri in the 3rd quarter worth approximately $211,000.

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.