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

Tutor Perini (NYSE:TPC) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

Several other research analysts also recently weighed in on the stock. Vertical Research began coverage on shares of Tutor Perini in a research note on Tuesday, December 10th. They issued a “buy” rating and a $38.00 target price for the company. UBS Group lifted their price target on shares of Tutor Perini from $27.00 to $39.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, B. Riley upped their price objective 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.

Tutor Perini Price Performance

Shares of TPC stock traded down $0.69 during trading hours on Wednesday, hitting $24.34. The company’s stock had a trading volume of 246,885 shares, compared to its average volume of 446,905. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.53. The business has a fifty day moving average of $27.44 and a 200-day moving average of $24.62. Tutor Perini has a twelve month low of $7.83 and a twelve month high of $34.55. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of -9.70 and a beta of 1.49.

Tutor Perini (NYSE:TPC) last announced its earnings results on Wednesday, November 6th. The construction company reported ($1.92) EPS for the quarter, missing analysts’ consensus estimates of ($1.89) by ($0.03). Tutor Perini had a negative net margin of 3.08% and a negative return on equity of 9.56%. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter last year, the company posted ($0.71) EPS. Tutor Perini’s quarterly revenue was up 2.1% compared to the same quarter last year. 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 50,000 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $28.68, for a total transaction of $1,434,000.00. Following the completion of the sale, the director now directly owns 250,000 shares in the company, valued at $7,170,000. This represents a 16.67 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Ronald N. Tutor sold 125,000 shares of Tutor Perini stock in a transaction on Monday, November 11th. The shares were sold at an average price of $30.72, for a total value of $3,840,000.00. Following the completion of the transaction, the chief executive officer now owns 3,257,313 shares in the company, valued at $100,064,655.36. The trade was a 3.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 325,000 shares of company stock worth $9,686,000 in the last 90 days. 19.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tutor Perini

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fred Alger Management LLC purchased a new stake in shares of Tutor Perini during the 3rd quarter worth about $16,034,000. Jacobs Levy Equity Management Inc. grew its stake in Tutor Perini by 129.4% during the third quarter. Jacobs Levy Equity Management Inc. now owns 783,396 shares of the construction company’s stock worth $21,277,000 after buying an additional 441,858 shares during the period. American Century Companies Inc. increased its position in shares of Tutor Perini by 59.9% in the second quarter. American Century Companies Inc. now owns 759,665 shares of the construction company’s stock worth $16,546,000 after acquiring an additional 284,627 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of Tutor Perini by 84.4% in the 2nd quarter. Acadian Asset Management LLC now owns 539,336 shares of the construction company’s stock valued at $11,742,000 after acquiring an additional 246,901 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Tutor Perini by 9.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,399,544 shares of the construction company’s stock valued at $52,263,000 after acquiring an additional 198,348 shares in the last quarter. 65.01% of the stock is currently owned by institutional investors and hedge funds.

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.