Tensile Capital Management acquired 812,088 shares of Centuri in Q3, valued at $17.2 million, marking a new position for the fund. This stake represents 2.2% of AUM and is outside the top five holdings. Centuri shares were priced at $25.58, up 18% over the past year, slightly outperforming the S&P 500.

The company provides utility infrastructure services, focusing on gas and electric utilities across North America. Revenue stands at $2.8 billion, with a net income of $2.5 million, and a market cap of $2.5 billion. Tensile’s new position reflects confidence in Centuri’s growth potential and sector stability.

Centuri reported record quarterly revenue of $850 million, with base revenue up 25% year over year. The firm’s backlog reached $5.9 billion, bolstering a positive outlook for future growth. Tensile’s investment in Centuri aligns with its strategy of entering steady, infrastructure-linked businesses with growth potential.

Read more at Yahoo Finance: What a New $17 Million Position Signals for Investors