Centuri Holdings, Inc.’s Quiet Period To Expire Tomorrow (NYSE:CTRI)

Centuri’s (NYSE:CTRI) quiet period is set to end on Tuesday, May 28th. Centuri had issued 12,400,000 shares in its 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, insiders and any underwriters involved in the IPO are restricted from issuing any earnings forecasts or research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

Analysts Set New Price Targets

Several analysts have commented on CTRI shares. Williams Capital upgraded Centuri to a “strong-buy” rating in a report on Tuesday, May 14th. JPMorgan Chase & Co. began coverage on shares of Centuri in a report on Monday, May 13th. They issued a “neutral” rating and a $28.00 target price for the company. Wells Fargo & Company assumed coverage on shares of Centuri in a research note on Monday, May 13th. They set an “overweight” rating and a $29.00 price target on the stock. Baird R W raised shares of Centuri to a “strong-buy” rating in a research note on Monday, May 13th. Finally, KeyCorp assumed coverage on Centuri in a research report on Monday, May 13th. They issued a “sector weight” rating on the stock. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $28.60.

Centuri Stock Performance

CTRI opened at $26.40 on Monday. Centuri has a 52-week low of $22.90 and a 52-week high of $27.91.

Centuri (NYSE:CTRI) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($137.53) earnings per share for the quarter. The company had revenue of $528.02 million for the quarter. Analysts forecast that Centuri will post 0.59 EPS for the current year.

Insider Transactions at Centuri

In other news, CFO Gregory A. Izenstark acquired 5,250 shares of the stock in a transaction on Monday, April 22nd. The stock was bought at an average price of $21.00 per share, with a total value of $110,250.00. Following the completion of the transaction, the chief financial officer now directly owns 5,250 shares of the company’s stock, valued at $110,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Centuri news, Director Julie Dill bought 5,000 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, with a total value of $105,000.00. Following the completion of the transaction, the director now owns 5,000 shares in the company, valued at $105,000. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Gregory A. Izenstark purchased 5,250 shares of Centuri stock in a transaction that occurred on Monday, April 22nd. The stock was acquired at an average cost of $21.00 per share, with a total value of $110,250.00. Following the acquisition, the chief financial officer now directly owns 5,250 shares of the company’s stock, valued at approximately $110,250. The disclosure for this purchase can be found here. Insiders purchased 35,250 shares of company stock valued at $740,250 over the last quarter.

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