Short Interest in Centuri Holdings, Inc. (NYSE:CTRI) Rises By 21.8%

Centuri Holdings, Inc. (NYSE:CTRI) saw a significant increase in short interest during the month of December. As of December 15th, there was short interest totalling 2,900,000 shares, an increase of 21.8% from the November 30th total of 2,380,000 shares. Based on an average daily trading volume, of 408,500 shares, the short-interest ratio is presently 7.1 days. Currently, 22.2% of the shares of the company are sold short.

Institutional Investors Weigh In On Centuri

A number of institutional investors have recently modified their holdings of CTRI. Bank of New York Mellon Corp acquired a new stake in shares of Centuri during the 2nd quarter valued at about $2,757,000. Rhumbline Advisers acquired a new stake in Centuri in the second quarter valued at approximately $300,000. Massachusetts Financial Services Co. MA bought a new stake in Centuri in the second quarter worth approximately $33,619,000. Gabelli Funds LLC acquired a new position in shares of Centuri during the 2nd quarter worth $880,000. Finally, Davidson Kempner Capital Management LP acquired a new position in shares of Centuri during the 2nd quarter worth $1,500,000.

Centuri Price Performance

Shares of Centuri stock traded up $0.09 during midday trading on Tuesday, hitting $19.31. The company’s stock had a trading volume of 203,863 shares, compared to its average volume of 484,444. Centuri has a 1-year low of $14.47 and a 1-year high of $28.65. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.64 and a current ratio of 1.64. The stock has a 50-day simple moving average of $20.15 and a 200-day simple moving average of $18.86.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CTRI shares. Robert W. Baird raised their target price on shares of Centuri from $19.00 to $21.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. raised their price objective on shares of Centuri from $16.00 to $17.00 and gave the company an “underweight” rating in a research note on Thursday, November 7th. Two research analysts have rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $18.40.

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.