Centuri Holdings, Inc. (NYSE:CTRI) Short Interest Down 9.0% in October

Centuri Holdings, Inc. (NYSE:CTRI) was the recipient of a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 2,540,000 shares, a decline of 9.0% from the October 15th total of 2,790,000 shares. Approximately 15.2% of the company’s stock are short sold. Based on an average daily trading volume, of 352,600 shares, the short-interest ratio is presently 7.2 days.

Institutional Trading of Centuri

A number of hedge funds have recently modified their holdings of CTRI. Bank of New York Mellon Corp acquired a new position in Centuri in the second quarter valued at approximately $2,757,000. Davidson Kempner Capital Management LP acquired a new position in shares of Centuri in the 2nd quarter valued at $1,500,000. Ghisallo Capital Management LLC purchased a new stake in Centuri during the second quarter worth $3,409,000. Point72 DIFC Ltd acquired a new stake in Centuri during the second quarter valued at $657,000. Finally, Versant Capital Management Inc purchased a new position in Centuri in the third quarter valued at $1,153,000.

Analysts Set New Price Targets

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

Centuri Stock Up 2.4 %

Shares of Centuri stock traded up $0.50 during trading on Tuesday, hitting $21.07. 41,497 shares of the company’s stock were exchanged, compared to its average volume of 509,192. Centuri has a 52-week low of $14.47 and a 52-week high of $28.65. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 1.70. The business has a 50-day simple moving average of $17.79 and a 200-day simple moving average of $20.08.

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.