Centuri Holdings (CTRI): Carl C. Icahn Is Buying This Stock

We just covered Growth Stock Portfolio: 12 Stock Picks by Carl C. Icahn and Centuri Holdings, Inc. (NYSE:CTRI) ranks 6th on this list.

Centuri Holdings, Inc. (NYSE:CTRI) is a relatively new addition to the 13F portfolio of Icahn Capital. The fund first disclosed a stake in the company back in the second quarter of 2024. This position comprised just under 2.6 million shares. Filings for the fourth quarter of 2025 show that the fund owns 14.3 million shares in the company, up 32% compared to filings for the previous quarter. Centuri operates as a utility infrastructure services company in North America. It offers gas utility services, including maintenance, replacement, repair, and installation for local natural gas distribution utilities focused on the modernization of infrastructure.

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Centuri Holdings, Inc. (NYSE:CTRI) is turning heads on Wall Street due to a massive backlog and a leading role in the transitioning energy landscape. Earlier this month, the company reported a record $6.5 billion backlog, marking a 44% year-over-year increase. There is increased optimism around the internal transformation plan of the firm, dubbed Vision One Centuri, which aims to transition the company from high-volume work to high-margin work. Despite a net loss in Q1, the company achieved a 76% year-over-year increase in gross profit. Management has introduced ambitious 2029 targets, including a Base Revenue CAGR of 10% to 15% and a Base Gross Profit Margin of 8.7% to 9.7%.

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