Tutor Perini (NYSE:TPC) Trading Down 20.4% – Should You Sell?

Tutor Perini Co. (NYSE:TPC) shares dropped 20.4% on Friday . The stock traded as low as $25.23 and last traded at $19.57. Approximately 283,919 shares traded hands during trading, a decline of 32% from the average daily volume of 419,539 shares. The stock had previously closed at $24.57.

Analyst Ratings Changes

TPC has been the topic of a number of research reports. StockNews.com upgraded shares of Tutor Perini from a “hold” rating to a “buy” rating in a report on Friday, January 3rd. Vertical Research assumed coverage on Tutor Perini in a report on Tuesday, December 10th. They issued a “buy” rating and a $38.00 target price on the stock. B. Riley increased their price target on Tutor Perini from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, UBS Group lifted their price objective on Tutor Perini from $27.00 to $39.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd.

Tutor Perini Stock Up 3.5 %

The business’s 50 day simple moving average is $26.24 and its 200 day simple moving average is $24.92. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $1.33 billion, a PE ratio of -10.14 and a beta of 1.54.

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

Insider Transactions at Tutor Perini

In other news, Director Raymond R. Oneglia sold 50,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $7,170,000. This trade represents a 16.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ronald N. Tutor sold 125,000 shares of the company’s stock in a transaction dated 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 owns 3,257,313 shares in the company, valued at $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 sold 325,000 shares of company stock worth $9,686,000. 19.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tutor Perini

Several hedge funds and other institutional investors have recently modified their holdings of TPC. USA Financial Formulas grew its position in Tutor Perini by 19.6% in the 3rd quarter. USA Financial Formulas now owns 3,451 shares of the construction company’s stock valued at $94,000 after acquiring an additional 566 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Tutor Perini by 3.5% during the second quarter. The Manufacturers Life Insurance Company now owns 16,874 shares of the construction company’s stock valued at $368,000 after purchasing an additional 571 shares during the period. CWM LLC grew its holdings in shares of Tutor Perini by 53.0% in the third quarter. CWM LLC now owns 2,622 shares of the construction company’s stock worth $71,000 after purchasing an additional 908 shares during the last quarter. Plato Investment Management Ltd bought a new position in shares of Tutor Perini in the third quarter worth about $52,000. Finally, FMR LLC increased its stake in Tutor Perini by 103.1% in the 3rd quarter. FMR LLC now owns 4,725 shares of the construction company’s stock worth $128,000 after buying an additional 2,399 shares during the period. 65.01% of the stock is currently owned by hedge funds and other institutional investors.

Tutor Perini Company Profile

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.