Tutor Perini (NYSE:TPC) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Tutor Perini (NYSE:TPC) from a buy rating to a hold rating in a research report released on Wednesday.

A number of other analysts have also weighed in on TPC. Vertical Research started coverage on Tutor Perini in a research note on Tuesday, December 10th. They issued a “buy” rating and a $38.00 target price on the stock. UBS Group raised their price target on shares of Tutor Perini from $27.00 to $39.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, B. Riley boosted their price objective on shares of Tutor Perini from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, November 7th.

Tutor Perini Price Performance

Tutor Perini stock opened at $23.80 on Wednesday. The firm has a market capitalization of $1.25 billion, a PE ratio of -9.48 and a beta of 1.49. Tutor Perini has a 12-month low of $7.83 and a 12-month high of $34.55. The firm has a 50-day moving average price of $27.30 and a 200-day moving average price of $24.64. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.53.

Tutor Perini (NYSE:TPC) last announced its earnings results on Wednesday, November 6th. The construction company reported ($1.92) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.89) by ($0.03). Tutor Perini had a negative net margin of 3.08% and a negative return on equity of 9.56%. The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter last year, the firm earned ($0.71) EPS. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. As a group, equities research analysts forecast that Tutor Perini will post -1.47 EPS for the current year.

Insider Transactions at Tutor Perini

In other news, Director Raymond R. Oneglia sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $28.68, for a total value of $1,434,000.00. Following the completion of the sale, the director now owns 250,000 shares of the company’s stock, valued at approximately $7,170,000. This represents a 16.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ronald N. Tutor sold 125,000 shares of Tutor Perini stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $30.72, for a total transaction of $3,840,000.00. Following the transaction, the chief executive officer now directly owns 3,257,313 shares in the company, valued at approximately $100,064,655.36. The trade was a 3.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 325,000 shares of company stock valued at $9,686,000. 19.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tutor Perini

A number of hedge funds have recently made changes to their positions in TPC. Foundry Partners LLC lifted its position in Tutor Perini by 18.2% during the third quarter. Foundry Partners LLC now owns 216,915 shares of the construction company’s stock valued at $5,891,000 after acquiring an additional 33,440 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Tutor Perini during the 2nd quarter valued at $746,000. Empowered Funds LLC boosted its position in shares of Tutor Perini by 13.9% in the 3rd quarter. Empowered Funds LLC now owns 268,521 shares of the construction company’s stock worth $7,293,000 after purchasing an additional 32,676 shares in the last quarter. Barclays PLC boosted its position in shares of Tutor Perini by 298.0% in the 3rd quarter. Barclays PLC now owns 69,875 shares of the construction company’s stock worth $1,898,000 after purchasing an additional 52,319 shares in the last quarter. Finally, Dark Forest Capital Management LP acquired a new position in Tutor Perini during the 2nd quarter valued at about $482,000. 65.01% of the stock is currently owned by hedge funds and other institutional investors.

About Tutor Perini

Tutor Perini Corporation, a construction company, provides diversified general contracting, construction management, and design-build services to private customers and public agencies in the United States and internationally. It operates through three segments: Civil, Building, and Specialty Contractors.