Tutor Perini (NYSE:TPC) Shares Down 8.1% – Here’s Why

Tutor Perini Co. (NYSE:TPC)’s share price was down 8.1% during mid-day trading on Tuesday . The stock traded as low as $21.57 and last traded at $19.77. Approximately 27,819 shares were traded during mid-day trading, a decline of 95% from the average daily volume of 585,466 shares. The stock had previously closed at $21.51.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. StockNews.com cut shares of Tutor Perini from a “buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Vertical Research initiated coverage on Tutor Perini in a report on Tuesday, December 10th. They set a “buy” rating and a $38.00 target price for the company. Finally, 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 report on Thursday, November 7th.

Tutor Perini Price Performance

The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of -8.90 and a beta of 1.52. The firm has a 50-day simple moving average of $24.05 and a two-hundred day simple moving average of $25.16. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.53.

Institutional Investors Weigh In On Tutor Perini

A number of institutional investors have recently modified their holdings of the business. Plato Investment Management Ltd acquired a new stake in Tutor Perini in the third quarter valued at approximately $52,000. CWM LLC grew its stake 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 acquiring an additional 908 shares during the period. FMR LLC increased its holdings 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 acquiring an additional 2,399 shares in the last quarter. State of Wyoming raised its position in Tutor Perini by 39.7% during the fourth quarter. State of Wyoming now owns 6,212 shares of the construction company’s stock worth $150,000 after acquiring an additional 1,764 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new position in Tutor Perini during the third quarter valued at $201,000. 65.01% of the stock is currently owned by institutional investors and hedge funds.

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.