Centuri announces Icahn's purchase of $75M in shares in conjunction with $160M public offering
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 13 2025
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Public Offering Announcement: Centuri Holdings has initiated an underwritten public offering of $160 million in common stock, with an option for underwriters to purchase an additional $24 million in shares.
Private Placement Details: Concurrently, investment entities affiliated with Carl C. Icahn will acquire approximately $75 million in shares at the same price as the public offering, relying on an exemption from registration under the Securities Act.
Use of Proceeds: The funds raised from both the public offering and private placement will be used for general corporate purposes, including potential acquisitions and repayment of existing borrowings.
Management of Offering: J.P. Morgan, Wells Fargo Securities, BofA Securities, and KeyBanc Capital Markets are serving as joint lead book-running managers for the offering.
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Analyst Views on CTRI
Wall Street analysts forecast CTRI stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for CTRI is 25.75 USD with a low forecast of 22.00 USD and a high forecast of 30.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
5 Analyst Rating
2 Buy
1 Hold
2 Sell
Hold
Current: 27.830
Low
22.00
Averages
25.75
High
30.00
Current: 27.830
Low
22.00
Averages
25.75
High
30.00
About CTRI
Centuri Holdings, Inc. is a utility 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 Gas Utility Services (Canadian Gas), 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. The 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.
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