Short Interest in Centuri Holdings, Inc. (NYSE:CTRI) Declines By 9.0%

Centuri Holdings, Inc. (NYSE:CTRI) was the target of a large decline in short interest in 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. Based on an average daily trading volume, of 352,600 shares, the days-to-cover ratio is presently 7.2 days. Approximately 15.2% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets raised its position in shares of Centuri by 39.3% in the 3rd 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 during the last quarter. MetLife Investment Management LLC lifted its position in Centuri by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 8,243 shares of the company’s stock valued at $133,000 after acquiring an additional 4,645 shares in the last quarter. Centiva Capital LP purchased a new stake in Centuri during the 3rd quarter valued at $162,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Centuri in the 3rd quarter worth $211,000. Finally, Rhumbline Advisers purchased a new position in shares of Centuri in the second quarter worth $300,000.

Centuri Trading Up 1.8 %

Centuri stock traded up $0.38 during mid-day trading on Tuesday, reaching $20.95. 30,608 shares of the company traded hands, compared to its average volume of 509,134. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 1.70. Centuri has a 52-week low of $14.47 and a 52-week high of $28.65. The firm’s 50 day moving average price is $17.79 and its 200 day moving average price is $20.08.

Wall Street Analysts Forecast Growth

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

About Centuri

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.