Short Interest in Centuri Holdings, Inc. (NYSE:CTRI) Drops By 8.7%

Centuri Holdings, Inc. (NYSE:CTRI) was the target of a large decline in short interest in the month of November. As of November 15th, there was short interest totalling 2,320,000 shares, a decline of 8.7% from the October 31st total of 2,540,000 shares. Currently, 13.9% of the company’s shares are short sold. Based on an average trading volume of 372,100 shares, the short-interest ratio is presently 6.2 days.

Centuri Stock Performance

Shares of CTRI traded up $0.06 during mid-day trading on Wednesday, hitting $20.61. 113,419 shares of the company’s stock were exchanged, compared to its average volume of 499,180. Centuri has a fifty-two week low of $14.47 and a fifty-two week high of $28.65. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 1.70. The stock’s 50-day moving average is $18.71 and its 200-day moving average is $19.70.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Centuri

Hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets lifted its position in shares of Centuri by 39.3% during the third quarter. BNP Paribas Financial Markets now owns 6,827 shares of the company’s stock worth $110,000 after purchasing an additional 1,927 shares in the last quarter. MetLife Investment Management LLC lifted its position in shares of Centuri by 129.1% during the third quarter. MetLife Investment Management LLC now owns 8,243 shares of the company’s stock worth $133,000 after purchasing an additional 4,645 shares in the last quarter. Centiva Capital LP acquired a new stake in shares of Centuri during the third quarter worth about $162,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Centuri during the third quarter worth about $211,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Centuri during the third quarter worth about $256,000.

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.