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

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

Other equities research analysts also recently issued reports about the stock. UBS Group lifted their price objective 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. B. Riley lifted their price target on Tutor Perini from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Vertical Research initiated 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 Price Performance

Tutor Perini stock traded down $4.59 during midday trading on Tuesday, reaching $19.72. 872,919 shares of the stock traded hands, compared to its average volume of 643,954. The stock’s fifty day moving average is $25.63 and its 200-day moving average is $25.15. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.53. The stock has a market cap of $1.03 billion, a P/E ratio of -7.85 and a beta of 1.54. Tutor Perini has a 12 month low of $8.45 and a 12 month high of $34.55.

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 business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the prior year, the business posted ($0.71) earnings per share. Tutor Perini’s revenue was up 2.1% on a year-over-year basis. As a group, equities research analysts anticipate that Tutor Perini will post -1.47 EPS for the current year.

Insider Buying and Selling at Tutor Perini

In other news, Director Raymond R. Oneglia sold 100,000 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $28.73, for a total transaction of $2,873,000.00. Following the sale, the director now owns 400,000 shares of the company’s stock, valued at approximately $11,492,000. This represents a 20.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ronald N. Tutor sold 125,000 shares of the firm’s 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 completion of the transaction, the chief executive officer now directly owns 3,257,313 shares of the company’s stock, valued at $100,064,655.36. This represents a 3.70 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 325,000 shares of company stock worth $9,686,000. Insiders own 19.50% of the company’s stock.

Institutional Investors Weigh In On Tutor Perini

Large investors have recently modified their holdings of the company. Plato Investment Management Ltd acquired a new stake in shares of Tutor Perini in the third quarter valued at approximately $52,000. CWM LLC raised its position 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 purchasing an additional 908 shares during the last quarter. USA Financial Formulas boosted its stake in 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 purchasing an additional 566 shares during the period. FMR LLC grew its position in 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 purchasing an additional 2,399 shares during the last quarter. Finally, Point72 DIFC Ltd purchased a new stake in shares of Tutor Perini in the second quarter valued at about $158,000. 65.01% of the stock is 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.