Tutor Perini (NYSE:TPC) Stock Price Down 16.9% – What’s Next?

Tutor Perini Co. (NYSE:TPC) traded down 16.9% during trading on Tuesday . The company traded as low as $23.21 and last traded at $19.69. 19,181 shares were traded during mid-day trading, a decline of 97% from the average session volume of 597,450 shares. The stock had previously closed at $23.69.

Analyst Upgrades and Downgrades

Several research firms have issued reports on TPC. B. Riley upped their price target on Tutor Perini from $38.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Vertical Research started coverage on Tutor Perini in a research report on Tuesday, December 10th. They set a “buy” rating and a $38.00 target price on the stock. UBS Group boosted their price objective on Tutor Perini from $27.00 to $39.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, StockNews.com lowered shares of Tutor Perini from a “buy” rating to a “hold” rating in a research note on Tuesday, January 28th.

Tutor Perini Trading Down 3.2 %

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 firm has a market cap of $1.20 billion, a price-to-earnings ratio of -9.14 and a beta of 1.52. The company has a 50-day moving average price of $24.42 and a 200 day moving average price of $25.07.

Insider Buying and Selling

In other news, Director Raymond R. Oneglia sold 50,000 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $28.68, for a total value of $1,434,000.00. Following the transaction, the director now owns 250,000 shares in the company, valued at $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 available at this link. Company insiders own 19.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TPC. Donald Smith & CO. Inc. lifted its position in Tutor Perini by 5.5% in the 4th quarter. Donald Smith & CO. Inc. now owns 3,450,257 shares of the construction company’s stock worth $83,496,000 after buying an additional 179,819 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Tutor Perini by 6.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,825,350 shares of the construction company’s stock valued at $68,373,000 after purchasing an additional 170,440 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Tutor Perini by 5.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,726,545 shares of the construction company’s stock valued at $65,982,000 after purchasing an additional 148,425 shares in the last quarter. Fred Alger Management LLC increased its position in Tutor Perini by 91.9% in the 4th quarter. Fred Alger Management LLC now owns 1,133,014 shares of the construction company’s stock worth $27,419,000 after purchasing an additional 542,647 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Tutor Perini by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,023,198 shares of the construction company’s stock worth $27,795,000 after purchasing an additional 38,458 shares in the last quarter. 65.01% of the stock is 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.