Tutor Perini (NYSE:TPC) Trading Down 19.2% – Here’s Why

Tutor Perini Co. (NYSE:TPC) was down 19.2% on Thursday . The company traded as low as $24.00 and last traded at $19.62. Approximately 205,977 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 611,812 shares. The stock had previously closed at $24.29.

Analyst Upgrades and Downgrades

TPC has been the subject of several research reports. UBS Group lifted their target price on Tutor Perini from $27.00 to $39.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Vertical Research began coverage on Tutor Perini in a research note on Tuesday, December 10th. They issued a “buy” rating and a $38.00 price objective on the stock. B. Riley boosted their price objective on Tutor Perini from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, StockNews.com downgraded shares of Tutor Perini from a “buy” rating to a “hold” rating in a research note on Tuesday.

Tutor Perini Price Performance

The company has a market capitalization of $1.26 billion, a PE ratio of -9.58 and a beta of 1.54. 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 stock has a fifty day simple moving average of $25.37 and a 200-day simple moving average of $25.13.

Tutor Perini (NYSE:TPC) last announced 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 net margin of 3.08% and a negative return on equity of 9.56%. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same period last year, the company earned ($0.71) earnings per share. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. Equities analysts anticipate that Tutor Perini Co. will post -1.47 earnings per share for the current year.

Insider Buying and Selling at Tutor Perini

In other news, Director Raymond R. Oneglia sold 100,000 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $28.73, for a total value of $2,873,000.00. Following the completion of the sale, the director now owns 400,000 shares in the company, valued at approximately $11,492,000. This trade represents a 20.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ronald N. Tutor sold 50,000 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $30.78, for a total transaction of $1,539,000.00. Following the transaction, the chief executive officer now directly owns 2,362,267 shares of the company’s stock, valued at $72,710,578.26. This represents a 2.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 325,000 shares of company stock worth $9,686,000 over the last 90 days. Corporate insiders own 19.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC boosted its position in shares of Tutor Perini by 40,975.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 140,477 shares of the construction company’s stock worth $3,400,000 after purchasing an additional 140,135 shares in the last quarter. Empowered Funds LLC lifted its stake in shares of Tutor Perini by 5.1% in the fourth quarter. Empowered Funds LLC now owns 282,247 shares of the construction company’s stock valued at $6,830,000 after purchasing an additional 13,726 shares during the period. Hennessy Advisors Inc. boosted its holdings in Tutor Perini by 6.8% during the fourth quarter. Hennessy Advisors Inc. now owns 682,981 shares of the construction company’s stock worth $16,528,000 after buying an additional 43,600 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Tutor Perini by 67.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 93,202 shares of the construction company’s stock worth $2,255,000 after buying an additional 37,478 shares during the period. Finally, JPMorgan Chase & Co. grew its position in Tutor Perini by 611.0% during the third quarter. JPMorgan Chase & Co. now owns 536,384 shares of the construction company’s stock worth $14,568,000 after buying an additional 460,945 shares during the period. Institutional investors and hedge funds own 65.01% of the company’s stock.

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.