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

StockNews.com lowered shares of Tutor Perini (NYSE:TPC) from a buy rating to a hold rating in a research report sent to investors on Friday.

TPC has been the subject of a number of other reports. B. Riley boosted their target price on shares of Tutor Perini from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. UBS Group increased their target price on Tutor Perini from $27.00 to $39.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd.

Tutor Perini Price Performance

TPC stock opened at $29.71 on Friday. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.53. Tutor Perini has a 52 week low of $7.83 and a 52 week high of $34.55. The company has a fifty day simple moving average of $26.85 and a two-hundred day simple moving average of $23.39. The firm has a market capitalization of $1.56 billion, a P/E ratio of -11.84 and a beta of 1.50.

Tutor Perini (NYSE:TPC) last issued its quarterly earnings results on Wednesday, November 6th. The construction company reported ($1.92) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $1.17 billion. During the same quarter in the prior year, the business earned ($0.71) earnings per share. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. Analysts anticipate that Tutor Perini will post -1.47 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Ronald N. Tutor sold 50,000 shares of Tutor Perini stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $30.78, for a total value of $1,539,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,362,267 shares in the company, valued at $72,710,578.26. This trade represents a 2.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 19.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in TPC. CWM LLC increased its position in shares of Tutor Perini by 142.8% in the 2nd quarter. CWM LLC now owns 1,714 shares of the construction company’s stock valued at $37,000 after acquiring an additional 1,008 shares during the period. Plato Investment Management Ltd acquired a new position in shares of Tutor Perini in the third quarter valued at about $52,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Tutor Perini in the second quarter worth about $51,000. nVerses Capital LLC acquired a new stake in shares of Tutor Perini during the second quarter worth about $63,000. Finally, USA Financial Formulas boosted its position in Tutor Perini by 19.6% in the third quarter. USA Financial Formulas now owns 3,451 shares of the construction company’s stock valued at $94,000 after buying an additional 566 shares during the last quarter. Hedge funds and other institutional investors own 65.01% of the company’s stock.

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.