Centuri falls after Southwest Gas slices stake in secondary offering

** Utility infrastructure services firm Centuri's CTRI.N shares fall 4.5% to $20.26

** CTRI late Thursday announced pricing of secondary offering of 15 million shares by Southwest Gas SWX.N

** SWX sold the shares at $19.50 apiece for gross proceeds of $292.5 million

** Offering priced at 8% discount to stock's last close

** Separately, entities affiliated with billionaire investor Carl Icahn agreed to purchase ~1.6 million CTRI shares from SWX in concurrent private placement

** SWX trimmed its stake to 33.4% from 52.1%, according to prospectus

** J.P. Morgan, Wells Fargo Securities, BofA Securities and Moelis were the joint lead book-running managers for the offering

** 3 of 6 brokerages rate the stock "buy" or higher, 2 "hold" and 1 "sell"; median PT $25 - data compiled by LSEG

** As of last close, CTRI stock up 9.8% YTD