Massachusetts Financial Services Co. MA Makes New Investment in Centuri Holdings, Inc. (NYSE:CTRI)

Massachusetts Financial Services Co. MA bought a new position in shares of Centuri Holdings, Inc. (NYSE:CTRI) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 1,725,826 shares of the company’s stock, valued at approximately $33,619,000. Massachusetts Financial Services Co. MA owned about 1.95% of Centuri as of its most recent SEC filing.

Separately, Rhumbline Advisers bought a new stake in shares of Centuri in the 2nd quarter worth approximately $300,000.

Centuri Trading Down 0.6 %

Shares of CTRI stock opened at $16.62 on Friday. Centuri Holdings, Inc. has a 1 year low of $14.47 and a 1 year high of $28.65. The firm’s fifty day moving average price is $17.19. The company has a debt-to-equity ratio of 1.94, a quick ratio of 2.05 and a current ratio of 2.05.

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

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. JPMorgan Chase & Co. cut their price target on Centuri from $28.00 to $19.00 and set a “neutral” rating on the stock in a report on Tuesday, July 30th. Bank of America cut their price target on Centuri from $21.00 to $15.00 and set an “underperform” rating on the stock in a report on Tuesday, July 30th. KeyCorp began coverage on Centuri in a research report on Thursday, June 27th. They issued a “sector weight” rating on the stock. UBS Group cut Centuri from a “buy” rating to a “neutral” rating and lowered their target price for the company from $30.00 to $17.00 in a research report on Tuesday, July 30th. Finally, Wells Fargo & Company lowered their target price on Centuri from $29.00 to $22.00 and set an “overweight” 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 given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $20.60.

Insider Activity

In other news, Director William Fehrman purchased 20,000 shares of the stock in a transaction dated Wednesday, July 31st. The shares were bought at an average cost of $16.50 per share, for a total transaction of $330,000.00. Following the transaction, the director now owns 45,000 shares in the company, valued at $742,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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.