Centuri (NYSE:CTRI) Trading Down 3.2% – Here’s Why

Centuri Holdings, Inc. (NYSE:CTRI)’s share price dropped 3.2% on Wednesday . The stock traded as low as $19.75 and last traded at $20.05. Approximately 21,889 shares changed hands during trading, a decline of 96% from the average daily volume of 502,209 shares. The stock had previously closed at $20.71.

Wall Street Analyst Weigh In

A number of research firms recently commented on CTRI. Robert W. Baird lifted their target price on Centuri from $19.00 to $21.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. UBS Group downgraded shares of Centuri from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $30.00 to $17.00 in a report on Tuesday, July 30th. JPMorgan Chase & Co. boosted their target price on shares of Centuri from $16.00 to $17.00 and gave the company an “underweight” rating in a research report on Thursday, November 7th. Wells Fargo & Company reduced their price objective on Centuri from $29.00 to $22.00 and set an “overweight” rating for the company in a research note on Tuesday, July 30th. Finally, Bank of America dropped their target price on Centuri from $21.00 to $15.00 and set an “underperform” rating on the stock in a report on Tuesday, July 30th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $18.40.

Centuri Trading Down 1.0 %

The company has a 50 day moving average price of $18.33 and a 200 day moving average price of $19.88. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 1.70.

Institutional Investors Weigh In On Centuri

Several large investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets raised its holdings 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 purchasing an additional 1,927 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Centuri by 3.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 111,364 shares of the company’s stock valued at $1,799,000 after acquiring an additional 3,818 shares during the last quarter. MetLife Investment Management LLC boosted its stake in Centuri by 129.1% in the third quarter. MetLife Investment Management LLC now owns 8,243 shares of the company’s stock valued at $133,000 after acquiring an additional 4,645 shares in the last quarter. Centiva Capital LP purchased a new position in shares of Centuri during the third quarter worth about $162,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Centuri during the third quarter worth about $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.