Squarepoint Ops LLC Buys New Position in Centuri Holdings, Inc. (NYSE:CTRI)

Squarepoint Ops LLC purchased a new position in Centuri Holdings, Inc. (NYSE:CTRI) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 71,500 shares of the company’s stock, valued at approximately $1,393,000. Squarepoint Ops LLC owned approximately 0.08% of Centuri at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Sandia Investment Management LP bought a new stake in Centuri during the second quarter worth about $466,000. Point72 DIFC Ltd purchased a new position in shares of Centuri during the 2nd quarter valued at about $657,000. Davidson Kempner Capital Management LP purchased a new position in shares of Centuri during the 2nd quarter valued at about $1,500,000. Gabelli Funds LLC bought a new stake in Centuri in the 2nd quarter worth approximately $880,000. Finally, Massachusetts Financial Services Co. MA bought a new position in Centuri during the second quarter valued at approximately $33,619,000.

Centuri Price Performance

NYSE CTRI opened at $15.93 on Friday. Centuri Holdings, Inc. has a 1 year low of $14.47 and a 1 year high of $28.65. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 1.94. The business has a 50-day simple moving average of $16.26.

Centuri (NYSE:CTRI) last issued its quarterly earnings data on Monday, July 29th. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. The business had revenue of $672.08 million during the quarter, compared to the consensus estimate of $760.55 million. The company’s quarterly revenue was down 16.6% on a year-over-year basis. As a group, research analysts predict that Centuri Holdings, Inc. will post 0.43 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director William Fehrman bought 20,000 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were purchased at an average price of $16.50 per share, with a total value of $330,000.00. Following the purchase, the director now owns 45,000 shares of the company’s stock, valued at approximately $742,500. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CTRI shares. UBS Group lowered shares of Centuri from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $30.00 to $17.00 in a report on Tuesday, July 30th. KeyCorp initiated coverage on shares of Centuri in a research report on Thursday, June 27th. They set a “sector weight” rating for the company. Wells Fargo & Company decreased their price objective on Centuri from $29.00 to $22.00 and set an “overweight” rating on the stock in a report on Tuesday, July 30th. JPMorgan Chase & Co. dropped their target price on Centuri from $28.00 to $19.00 and set a “neutral” rating for the company in a report on Tuesday, July 30th. Finally, Bank of America reduced their price target on Centuri from $21.00 to $15.00 and set an “underperform” rating on the stock in a research report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.60.

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.