Centuri Posted Record Quarterly Revenue, So Why Did One Fund Exit a $29 Million Stake?
Key Points
ACK Asset Management sold all 1,375,000 Centuri Holdings shares it held in the fourth quarter.
As a result, the quarter-end position value decreased by $29.11 million.
The position was previously 3.6% of the fund's AUM as of the prior quarter.
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On February 13, 2026, ACK Asset Management LLC disclosed it fully exited its position in Centuri Holdings (NYSE:CTRI), selling 1,375,000 shares in a transaction estimated at $29.11 million.
What happened
According to an SEC filing dated February 13, 2026, ACK Asset Management LLC sold its entire stake of 1,375,000 Centuri Holdings shares during the fourth quarter. As a result, the quarter-end value for the position declined by $29.11 million, and the fund now reports no Centuri shares among its holdings.
What else to know
- Top holdings after the filing:
- NYSE:MTRN: $59.03 million (7.5% of AUM)
- NYSE:GVA: $57.67 million (7.3% of AUM)
- NYSE:WMS: $56.48 million (7.1% of AUM)
- NYSE:ATS: $50.84 million (6.4% of AUM)
- NYSE:CNM: $46.77 million (5.9% of AUM)
- As of February 12, 2026, Centuri shares were priced at $31.11, up 45.9% over one year and well outperforming the S&P 500 by 33.0 percentage points.
Company overview
| Metric | Value |
|---|---|
| Price (as of market close 2026-02-12) | $31.11 |
| Market Capitalization | $3.14 billion |
| Revenue (TTM) | $2.84 billion |
| Net Income (TTM) | $2.51 million |
Company snapshot
- Centuri Holdings offers utility infrastructure services, including gas and electric utility maintenance, replacement, repair, and installation across North America.
- The company focuses on modernization and expansion of energy infrastructure for utility providers.
- It serves electric, gas, and combination utility companies, with additional exposure to end markets such as renewable energy, data centers, and telecommunications.
Centuri Holdings, Inc. is a leading utility infrastructure services provider with a diversified portfolio across gas and electric segments in the U.S. and Canada. The company leverages its scale and longstanding industry relationships to secure recurring service contracts from major utility operators. Its strategic focus on infrastructure modernization and critical utility support positions it as a key partner in the evolving North American energy landscape.
What this transaction means for investors
In November, Centuri posted record quarterly revenue of $850 million, up 18.1% year over year, and shares have been doing well, making this move all the more interesting. Under the hood, base revenue, which strips out storm work, climbed 25%, and base gross profit increased 28%. Adjusted EBITDA came in at $75.2 million, while adjusted diluted EPS improved to $0.19 from $0.06 a year ago. More importantly, the company secured $815 million in quarterly bookings, driving a 1.8x book-to-bill through the first three quarters and lifting backlog to a record $5.9 billion.
Shares are up 45.9% over the past year, and within a portfolio concentrated in industrial and materials names like Materion, Granite Construction, and Advanced Drainage Systems, this was a clear infrastructure bet.
For long-term investors, the tension is valuation versus visibility. Backlog growth suggests durable demand tied to utility modernization, but leverage and margin discipline might determine whether that demand translates into sustained shareholder returns.
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Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Advanced Drainage Systems and Materion. The Motley Fool recommends ATS Corp. The Motley Fool has a disclosure policy.
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