Tutor Perini (NYSE:TPC) Rating Lowered to “Hold” at StockNews.com

Tutor Perini (NYSE:TPC) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Tuesday.

Other equities analysts also recently issued research reports about the stock. UBS Group boosted their price target on shares of Tutor Perini from $27.00 to $39.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. B. Riley increased their price target on shares of Tutor Perini from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Vertical Research started coverage on shares of Tutor Perini in a report on Tuesday, December 10th. They issued a “buy” rating and a $38.00 price objective for the company.

Tutor Perini Stock Down 18.9 %

TPC traded down $4.59 on Tuesday, reaching $19.72. The company’s stock had a trading volume of 872,919 shares, compared to its average volume of 643,954. Tutor Perini has a 1 year low of $8.45 and a 1 year high of $34.55. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.55 and a quick ratio of 1.55. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of -7.85 and a beta of 1.54. The business’s 50 day moving average is $25.63 and its 200 day moving average is $25.15.

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

Insider Activity

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

Institutional Investors Weigh In On Tutor Perini

A number of large investors have recently added to or reduced their stakes in TPC. Plato Investment Management Ltd acquired a new position in Tutor Perini in the third quarter valued at about $52,000. CWM LLC increased its holdings in Tutor Perini by 53.0% in the 3rd quarter. CWM LLC now owns 2,622 shares of the construction company’s stock valued at $71,000 after buying an additional 908 shares during the period. USA Financial Formulas lifted its holdings in shares of Tutor Perini by 19.6% during the 3rd quarter. USA Financial Formulas now owns 3,451 shares of the construction company’s stock worth $94,000 after acquiring an additional 566 shares during the period. FMR LLC boosted its position in shares of Tutor Perini by 103.1% during the 3rd quarter. FMR LLC now owns 4,725 shares of the construction company’s stock worth $128,000 after acquiring an additional 2,399 shares in the last quarter. Finally, Point72 DIFC Ltd bought a new position in Tutor Perini in the second quarter valued at approximately $158,000. Institutional investors and hedge funds own 65.01% of the company’s stock.

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.