Centuri Holdings, Inc.’s (NYSE:CTRI) Lock-Up Period To Expire on October 15th

Centuri’s (NYSE:CTRI) lock-up period will expire on Tuesday, October 15th. Centuri had issued 12,400,000 shares in its IPO on April 18th. The total size of the offering was $260,400,000 based on an initial share price of $21.00. After the end of Centuri’s lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. KeyCorp assumed coverage on Centuri in a research note on Thursday, June 27th. They set a “sector weight” rating for the company. UBS Group downgraded Centuri from a “buy” rating to a “neutral” rating and cut their price target for the stock from $30.00 to $17.00 in a research note on Tuesday, July 30th. Bank of America cut their price target on Centuri from $21.00 to $15.00 and set an “underperform” rating for the company in a research note on Tuesday, July 30th. JPMorgan Chase & Co. downgraded Centuri from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $19.00 to $16.00 in a research note on Monday. Finally, Wells Fargo & Company cut their price target on Centuri from $29.00 to $22.00 and set an “overweight” rating for the company in a research note on Tuesday, July 30th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Centuri has an average rating of “Moderate Buy” and an average price target of $20.00.

Centuri Price Performance

Shares of CTRI stock opened at $15.73 on Tuesday. The firm has a 50 day moving average of $16.26. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 1.94. Centuri has a twelve month low of $14.47 and a twelve month high of $28.65.

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

Insiders Place Their Bets

In other Centuri news, Director William Fehrman purchased 20,000 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were bought at an average cost of $16.50 per share, with a total value of $330,000.00. Following the transaction, the director now directly owns 45,000 shares in the company, valued at approximately $742,500. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CTRI. Rhumbline Advisers bought a new position in Centuri in the 2nd quarter worth approximately $300,000. Sandia Investment Management LP acquired a new stake in shares of Centuri during the 2nd quarter worth approximately $466,000. Point72 DIFC Ltd acquired a new stake in shares of Centuri during the 2nd quarter worth approximately $657,000. Gabelli Funds LLC acquired a new stake in shares of Centuri during the 2nd quarter worth approximately $880,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of Centuri during the 2nd quarter worth approximately $1,393,000.

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.