Tutor Perini (NYSE:TPC – Get Free Report) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Thursday.
Separately, UBS Group boosted their price objective on shares of Tutor Perini from $27.00 to $39.00 and gave the company a “buy” rating in a research note on Wednesday.
Check Out Our Latest Analysis on TPC
Tutor Perini Trading Down 6.6 %
Tutor Perini (NYSE:TPC – Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The construction company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.15). Tutor Perini had a negative net margin of 1.59% and a negative return on equity of 4.49%. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period in the prior year, the company earned ($0.72) EPS. The company’s revenue was up 10.4% compared to the same quarter last year. Research analysts forecast that Tutor Perini will post 1.12 EPS for the current year.
Institutional Trading of Tutor Perini
A number of institutional investors have recently modified their holdings of the company. Empowered Funds LLC lifted its position in Tutor Perini by 17.3% during the first quarter. Empowered Funds LLC now owns 218,925 shares of the construction company’s stock valued at $3,166,000 after buying an additional 32,325 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Tutor Perini during the 2nd quarter valued at $746,000. Acadian Asset Management LLC boosted its position in Tutor Perini by 152.0% during the 1st quarter. Acadian Asset Management LLC now owns 292,435 shares of the construction company’s stock worth $4,227,000 after purchasing an additional 176,398 shares during the period. Dark Forest Capital Management LP acquired a new stake in Tutor Perini in the 2nd quarter valued at $482,000. Finally, Caxton Associates LP increased its holdings in Tutor Perini by 254.0% in the 2nd quarter. Caxton Associates LP now owns 77,466 shares of the construction company’s stock valued at $1,687,000 after purchasing an additional 55,583 shares in 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.
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