Centuri Posted Record Quarterly Revenue, So Why Did One Fund Exit a $29 Million Stake?

Centuri Holdings delivers utility infrastructure services across North America, supporting modernization for electric and gas providers.On February 13, 2026, ACK Asset Management LLC disclosed it fully exited its position in Centuri Holdings (CTRI 0.51%), selling 1,375,000 shares in a transaction estimated at $29.11 million.What happenedAccording 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 knowTop 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 overviewMetricValuePrice (as of market close 2026-02-12)$31.11Market Capitalization$3.14 billionRevenue (TTM)$2.84 billionNet Income (TTM)$2.51 millionCompany snapshotCenturi 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 investorsIn 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.About the AuthorJonathan Ponciano is a contributing stock market analyst at The Motley Fool. He has nearly a decade of experience as a financial journalist, most recently as an editor and senior reporter at Forbes focused on markets, technology, and entrepreneurship. Jonathan has also written for Investopedia and the Los Angeles Business Journal. He holds a dual B.A. in Business Journalism and Economics from the University of North Carolina at Chapel Hill and an M.B.A. from Columbia Business School. A North Carolina native now based in New York City, Jonathan has also lived in Mexico City and Los Angeles.CMFjonponcStocks MentionedCenturiNYSE: CTRI$30.95 (0.51%) $0.16*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.