Tensile Increases Stake in Centuri Holdings
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 10 2026
0mins
Should l Buy CTRI?
Source: NASDAQ.COM
- Share Acquisition: On February 17, 2026, Tensile Capital Management disclosed in an SEC filing that it increased its stake in Centuri Holdings by 1,054,155 shares, with an estimated transaction value of $23.57 million, reflecting strong confidence in the company.
- Position Value Increase: This transaction resulted in a $29.93 million increase in Tensile's total position value in Centuri Holdings, indicating that both stock price appreciation and share purchases have contributed to the growth of assets under management.
- Strong Market Performance: As of February 17, 2026, Centuri Holdings shares were priced at $31.29, marking a 57.7% increase over the past year, outperforming the S&P 500 by 39.17 percentage points, showcasing its robust performance in the utility infrastructure services sector.
- Future Growth Potential: Centuri Holdings is benefiting from significant investments driven by the AI revolution, with management noting a substantial backlog of work, indicating durable growth prospects for the company in the energy infrastructure space.
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Analyst Views on CTRI
Wall Street analysts forecast CTRI stock price to fall
6 Analyst Rating
3 Buy
1 Hold
2 Sell
Hold
Current: 33.740
Low
22.00
Averages
27.40
High
34.00
Current: 33.740
Low
22.00
Averages
27.40
High
34.00
About CTRI
Centuri Holdings, Inc. is a utility and energy infrastructure services company that partners with regulated utilities to build and maintain the energy network that powers millions of homes and businesses across the United States and Canada. The Company's segments include U.S. Gas Utility Services (U.S. Gas), Canadian Utility Services (Canadian Operations), Union Electric Utility Services (Union Electric), and Non-Union Electric Utility Services (Non-Union Electric). The U.S. Gas and Canadian Gas segments provide comprehensive services, including maintenance, replacement, repair and installation for local natural gas distribution utilities (LDCs) focused on the modernization of customers’ infrastructure throughout the United States and Canada. Union Electric segment provides a comprehensive set of electric utility services encompassing maintenance, replacement, repair, upgrade and expansion services for urban transmission and local distribution infrastructure within union markets.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Centuri Holdings Secures Over $345 Million in New Contracts
- Total New Contracts: Centuri Holdings announced it has secured over $345 million in new commercial awards across the U.S., covering natural gas and electric infrastructure projects, indicating strong demand and growth potential in the market.
- Project Composition: Approximately 70% of the awards stem from new projects and expanded Master Services Agreements, while the remainder consists of renewals with existing customers, showcasing the company's dual success in client retention and new business development.
- Year-to-Date Bookings: Year-to-date bookings for Centuri in 2026 are nearing $1.4 billion, reflecting sustained growth and market confidence in the infrastructure sector.
- Future Outlook: Centuri targets a base revenue of $3.15 billion to $3.45 billion for 2026, further strengthening its backlog and margin initiatives, signaling potential for sustainable growth in the future.
See More
Icahn Enterprises Increases Stake in Centuri Holdings
- Increased Holdings: Icahn Enterprises increased its stake in Centuri Holdings by 3,488,372 shares in Q4 2026, with an estimated transaction value of $77.99 million, indicating sustained confidence in the company.
- Market Valuation Growth: The latest report values Centuri Holdings at $361.99 million, an increase of $132.34 million from the previous filing, reflecting the impact of new purchases and price movements.
- Market Performance: As of March 20, 2026, Centuri Holdings shares were priced at $29.12, marking a 69.5% increase over the past year, outperforming the S&P 500 by 46.33 percentage points, showcasing strong market performance.
- Business Overview: Centuri Holdings focuses on gas and electric utility infrastructure services, supporting modernization and reliability, with over 8,600 employees and $2.84 billion in annual revenue, demonstrating its leadership position in North America.
See More
Icahn Enterprises Increases Stake in Centuri Holdings
- Share Acquisition: Icahn Enterprises LP acquired an additional 3,488,372 shares of Centuri Holdings in Q4, with an estimated transaction value of $77.99 million, reflecting ongoing confidence in the company.
- Asset Value Increase: This trade raised Icahn's quarter-end position value to $361.99 million, an increase of $132.34 million from the previous filing, demonstrating the dual impact of new purchases and stock price appreciation.
- Portfolio Proportion: Centuri Holdings now accounts for 4.29% of Icahn Enterprises LP's assets under management, indicating its significance in the investment portfolio despite not being among the top five holdings.
- Market Outlook Analysis: As a leading utility infrastructure services provider in North America, Centuri Holdings is positioned in critical areas of grid modernization and renewable energy build-out, with long investment cycles and regulated spending expected to drive future growth.
See More
Centuri Appoints New Board Member Steven Nielsen
- Board Expansion: Centuri Holdings, Inc. has appointed Steven Nielsen to its Board of Directors, increasing the board size to nine members, aiming to enhance corporate governance by introducing an independent director with extensive industry experience.
- Rich Leadership Experience: During his tenure as CEO at Dycom Industries, Nielsen successfully scaled the company’s revenue from under $200 million to over $4.5 billion, showcasing his exceptional leadership in the specialty contracting services sector, which is expected to drive strategic growth for Centuri.
- Future Outlook: Nielsen expressed enthusiasm about contributing his experience to Centuri's growth, aiming to help the company build greater market trust and performance in the energy infrastructure services sector, reflecting the company's confidence in future growth.
- Shareholder Meeting Participation: Nielsen will stand for election at the 2026 Annual Meeting of Shareholders, indicating the company's commitment to long-term strategy while providing shareholders with increased governance participation opportunities.
See More
Conversant Capital Reduces Stake in Centuri Holdings
- Share Reduction Details: Conversant Capital disclosed a reduction of 1,215,737 shares in Centuri Holdings during Q4 2025, with an estimated transaction value of $27.18 million, indicating a decrease in confidence that resulted in a $20.03 million drop in net position value, reflecting the impact of market volatility on its portfolio.
- Holding Proportion Change: Centuri Holdings now represents 6.71% of Conversant Capital's reportable 13F AUM, suggesting that despite the reduction, it remains a significant investment, which could influence future investment decisions.
- Company Performance: Centuri Holdings achieved record annual revenue of approximately $3.0 billion in 2025, a 13% increase year-over-year, with adjusted EBITDA reaching $249 million, showcasing strong growth potential in infrastructure modernization and renewable energy sectors.
- Market Outlook Analysis: Infrastructure spending has emerged as a durable theme in global markets, positioning Centuri at the forefront of grid modernization and aging pipeline replacement, suggesting long-term growth opportunities despite recent stock price increases, as demand for modernization projects is expected to persist.
See More
Conversant Capital Sells Shares of Centuri Holdings
- Share Reduction Details: Conversant Capital sold 1,215,737 shares of Centuri Holdings in Q4 2025, with an estimated trade value of $27.18 million, reflecting both sales and market price fluctuations.
- Position Value Change: As of quarter-end, Conversant continued to hold 1.4 million CTRI shares valued at $35.35 million, with an overall position value decrease of $20.03 million, indicating challenges in the market environment.
- Company Performance Highlights: Centuri Holdings achieved record annual revenue of approximately $3.0 billion in 2025, a 13% increase year-over-year, with adjusted EBITDA reaching $249 million, showcasing strong performance in infrastructure investments.
- Market Outlook Analysis: Infrastructure spending has become one of the most durable themes in global markets, and Centuri's role in grid modernization and renewable energy builds has drawn investor attention; while Conversant's sell-off may impact short-term stock prices, long-term demand remains robust.
See More
Centuri Holdings Secures Over $345 Million in New Contracts
- Total New Contracts: Centuri Holdings announced it has secured over $345 million in new commercial awards across the U.S., covering natural gas and electric infrastructure projects, indicating strong demand and growth potential in the market.
- Project Composition: Approximately 70% of the awards stem from new projects and expanded Master Services Agreements, while the remainder consists of renewals with existing customers, showcasing the company's dual success in client retention and new business development.
- Year-to-Date Bookings: Year-to-date bookings for Centuri in 2026 are nearing $1.4 billion, reflecting sustained growth and market confidence in the infrastructure sector.
- Future Outlook: Centuri targets a base revenue of $3.15 billion to $3.45 billion for 2026, further strengthening its backlog and margin initiatives, signaling potential for sustainable growth in the future.
See More
Icahn Enterprises Increases Stake in Centuri Holdings
- Increased Holdings: Icahn Enterprises increased its stake in Centuri Holdings by 3,488,372 shares in Q4 2026, with an estimated transaction value of $77.99 million, indicating sustained confidence in the company.
- Market Valuation Growth: The latest report values Centuri Holdings at $361.99 million, an increase of $132.34 million from the previous filing, reflecting the impact of new purchases and price movements.
- Market Performance: As of March 20, 2026, Centuri Holdings shares were priced at $29.12, marking a 69.5% increase over the past year, outperforming the S&P 500 by 46.33 percentage points, showcasing strong market performance.
- Business Overview: Centuri Holdings focuses on gas and electric utility infrastructure services, supporting modernization and reliability, with over 8,600 employees and $2.84 billion in annual revenue, demonstrating its leadership position in North America.
See More
Icahn Enterprises Increases Stake in Centuri Holdings
- Share Acquisition: Icahn Enterprises LP acquired an additional 3,488,372 shares of Centuri Holdings in Q4, with an estimated transaction value of $77.99 million, reflecting ongoing confidence in the company.
- Asset Value Increase: This trade raised Icahn's quarter-end position value to $361.99 million, an increase of $132.34 million from the previous filing, demonstrating the dual impact of new purchases and stock price appreciation.
- Portfolio Proportion: Centuri Holdings now accounts for 4.29% of Icahn Enterprises LP's assets under management, indicating its significance in the investment portfolio despite not being among the top five holdings.
- Market Outlook Analysis: As a leading utility infrastructure services provider in North America, Centuri Holdings is positioned in critical areas of grid modernization and renewable energy build-out, with long investment cycles and regulated spending expected to drive future growth.
See More
Centuri Appoints New Board Member Steven Nielsen
- Board Expansion: Centuri Holdings, Inc. has appointed Steven Nielsen to its Board of Directors, increasing the board size to nine members, aiming to enhance corporate governance by introducing an independent director with extensive industry experience.
- Rich Leadership Experience: During his tenure as CEO at Dycom Industries, Nielsen successfully scaled the company’s revenue from under $200 million to over $4.5 billion, showcasing his exceptional leadership in the specialty contracting services sector, which is expected to drive strategic growth for Centuri.
- Future Outlook: Nielsen expressed enthusiasm about contributing his experience to Centuri's growth, aiming to help the company build greater market trust and performance in the energy infrastructure services sector, reflecting the company's confidence in future growth.
- Shareholder Meeting Participation: Nielsen will stand for election at the 2026 Annual Meeting of Shareholders, indicating the company's commitment to long-term strategy while providing shareholders with increased governance participation opportunities.
See More
Conversant Capital Reduces Stake in Centuri Holdings
- Share Reduction Details: Conversant Capital disclosed a reduction of 1,215,737 shares in Centuri Holdings during Q4 2025, with an estimated transaction value of $27.18 million, indicating a decrease in confidence that resulted in a $20.03 million drop in net position value, reflecting the impact of market volatility on its portfolio.
- Holding Proportion Change: Centuri Holdings now represents 6.71% of Conversant Capital's reportable 13F AUM, suggesting that despite the reduction, it remains a significant investment, which could influence future investment decisions.
- Company Performance: Centuri Holdings achieved record annual revenue of approximately $3.0 billion in 2025, a 13% increase year-over-year, with adjusted EBITDA reaching $249 million, showcasing strong growth potential in infrastructure modernization and renewable energy sectors.
- Market Outlook Analysis: Infrastructure spending has emerged as a durable theme in global markets, positioning Centuri at the forefront of grid modernization and aging pipeline replacement, suggesting long-term growth opportunities despite recent stock price increases, as demand for modernization projects is expected to persist.
See More
Conversant Capital Sells Shares of Centuri Holdings
- Share Reduction Details: Conversant Capital sold 1,215,737 shares of Centuri Holdings in Q4 2025, with an estimated trade value of $27.18 million, reflecting both sales and market price fluctuations.
- Position Value Change: As of quarter-end, Conversant continued to hold 1.4 million CTRI shares valued at $35.35 million, with an overall position value decrease of $20.03 million, indicating challenges in the market environment.
- Company Performance Highlights: Centuri Holdings achieved record annual revenue of approximately $3.0 billion in 2025, a 13% increase year-over-year, with adjusted EBITDA reaching $249 million, showcasing strong performance in infrastructure investments.
- Market Outlook Analysis: Infrastructure spending has become one of the most durable themes in global markets, and Centuri's role in grid modernization and renewable energy builds has drawn investor attention; while Conversant's sell-off may impact short-term stock prices, long-term demand remains robust.
See More
