Centuri Holdings, Inc.’s Quiet Period Set To End on May 28th (NYSE:CTRI)

Centuri’s (NYSE:CTRI) quiet period will end on Tuesday, May 28th. Centuri had issued 12,400,000 shares in its initial public offering on April 18th. The total size of the offering was $260,400,000 based on an initial share price of $21.00. During the company’s quiet period, underwriters and any insiders that worked on the IPO are restricted from issuing any earnings forecasts or research reports for the company because of SEC regulations. Following the expiration of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Analyst Ratings Changes

CTRI has been the subject of a number of recent research reports. KeyCorp started coverage on Centuri in a report on Monday, May 13th. They issued a “sector weight” rating for the company. Robert W. Baird started coverage on Centuri in a research report on Monday, May 13th. They set an “outperform” rating and a $30.00 price objective for the company. Wells Fargo & Company began coverage on shares of Centuri in a report on Monday, May 13th. They issued an “overweight” rating and a $29.00 target price on the stock. JPMorgan Chase & Co. started coverage on shares of Centuri in a report on Monday, May 13th. They set a “neutral” rating and a $28.00 price target for the company. Finally, UBS Group assumed coverage on shares of Centuri in a report on Monday, May 13th. They issued a “buy” rating and a $30.00 price objective on the stock. Three analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Centuri currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.60.

Centuri Price Performance

Shares of Centuri stock opened at $26.31 on Thursday. Centuri has a 12 month low of $22.90 and a 12 month high of $27.91.

Centuri (NYSE:CTRI) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($137.53) earnings per share (EPS) for the quarter. The business had revenue of $528.02 million for the quarter. As a group, equities research analysts anticipate that Centuri will post 0.59 earnings per share for the current fiscal year.

Insider Buying and Selling at Centuri

In related news, CEO William Fehrman purchased 25,000 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The stock was purchased at an average cost of $21.00 per share, with a total value of $525,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 25,000 shares in the company, valued at $525,000. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO William Fehrman purchased 25,000 shares of the company’s stock in a transaction dated Monday, April 22nd. The shares were acquired at an average cost of $21.00 per share, for a total transaction of $525,000.00. Following the completion of the purchase, the chief executive officer now directly owns 25,000 shares in the company, valued at approximately $525,000. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Julie Dill acquired 5,000 shares of Centuri stock in a transaction that occurred on Monday, April 22nd. The stock was purchased at an average price of $21.00 per share, with a total value of $105,000.00. Following the transaction, the director now owns 5,000 shares of the company’s stock, valued at $105,000. The disclosure for this purchase can be found here. Insiders purchased a total of 35,250 shares of company stock valued at $740,250 in the last ninety days.

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 encompassing design, maintenance and repair, upgrade, and expansion services for transmission and distribution infrastructure.