Maverick Capital Ltd. Makes New $2.92 Million Investment in Centuri Holdings, Inc. (NYSE:CTRI)

Maverick Capital Ltd. bought a new position in Centuri Holdings, Inc. (NYSE:CTRI) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 150,000 shares of the company’s stock, valued at approximately $2,922,000. Maverick Capital Ltd. owned about 0.17% of Centuri as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Rhumbline Advisers bought a new stake in Centuri in the second quarter valued at about $300,000. Sandia Investment Management LP acquired a new position in shares of Centuri in the 2nd quarter worth approximately $466,000. Point72 DIFC Ltd bought a new stake in shares of Centuri in the 2nd quarter valued at approximately $657,000. Gabelli Funds LLC bought a new stake in shares of Centuri in the 2nd quarter valued at approximately $880,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of Centuri during the 2nd quarter valued at approximately $1,393,000.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Wells Fargo & Company decreased their price objective on shares of Centuri from $29.00 to $22.00 and set an “overweight” rating for the company in a report on Tuesday, July 30th. KeyCorp started coverage on shares of Centuri in a research report on Thursday, June 27th. They set a “sector weight” rating for the company. UBS Group lowered shares of Centuri from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $30.00 to $17.00 in a research note on Tuesday, July 30th. Bank of America decreased their target price on Centuri from $21.00 to $15.00 and set an “underperform” rating for the company in a research note on Tuesday, July 30th. Finally, JPMorgan Chase & Co. dropped their price target on Centuri from $28.00 to $19.00 and set a “neutral” 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 issued a hold rating, two have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $20.60.

Centuri Trading Down 0.5 %

Shares of NYSE:CTRI opened at $15.34 on Friday. Centuri Holdings, Inc. has a fifty-two week low of $14.47 and a fifty-two week high of $28.65. The company has a debt-to-equity ratio of 1.94, a quick ratio of 2.05 and a current ratio of 2.05. The firm has a 50-day moving average price of $16.79.

Centuri (NYSE:CTRI) last issued its quarterly earnings data on Monday, July 29th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.01. The business 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% compared to the same quarter last year. As a group, research analysts forecast that Centuri Holdings, Inc. will post 0.43 EPS for the current year.

Insiders Place Their Bets

In related news, Director William Fehrman acquired 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were acquired at an average cost of $16.50 per share, for a total transaction of $330,000.00. Following the completion of the purchase, the director now directly owns 45,000 shares in the company, valued at $742,500. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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.