Tutor Perini (NYSE:TPC) Trading Down 17.2% – Time to Sell?

Shares of Tutor Perini Co. (NYSE:TPC) were down 17.2% during mid-day trading on Wednesday . The company traded as low as $23.86 and last traded at $19.43. Approximately 12,891 shares traded hands during trading, a decline of 98% from the average daily volume of 668,913 shares. The stock had previously closed at $23.46.

Analyst Ratings Changes

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

Tutor Perini Stock Down 0.2 %

The firm’s 50 day moving average is $24.93 and its two-hundred day moving average is $25.09. The firm has a market capitalization of $1.28 billion, a P/E ratio of -9.74 and a beta of 1.52. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.55 and a quick ratio of 1.55.

Tutor Perini (NYSE:TPC) last posted its quarterly earnings data 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). The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.17 billion. Tutor Perini had a negative net margin of 3.08% and a negative return on equity of 9.56%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.71) EPS. Research analysts predict that Tutor Perini Co. will post -1.47 EPS for the current year.

Insider Activity

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 transaction, the director now owns 250,000 shares of the company’s stock, valued at $7,170,000. This represents a 16.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ronald N. Tutor sold 125,000 shares of Tutor Perini stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $30.72, for a total value of $3,840,000.00. Following the completion of the sale, the chief executive officer now directly owns 3,257,313 shares of the company’s stock, valued at approximately $100,064,655.36. This trade represents a 3.70 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 275,000 shares of company stock valued at $8,147,000. 19.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tutor Perini

Several large investors have recently added to or reduced their stakes in the business. Plato Investment Management Ltd bought a new position in shares of Tutor Perini during the third quarter valued at about $52,000. CWM LLC increased its position in shares of Tutor Perini by 53.0% during the 3rd quarter. CWM LLC now owns 2,622 shares of the construction company’s stock valued at $71,000 after purchasing an additional 908 shares during the last quarter. USA Financial Formulas lifted its holdings in Tutor Perini by 19.6% during the third quarter. USA Financial Formulas now owns 3,451 shares of the construction company’s stock valued at $94,000 after purchasing an additional 566 shares in the last quarter. FMR LLC boosted its holdings in shares of Tutor Perini by 103.1% during the 3rd quarter. FMR LLC now owns 4,725 shares of the construction company’s stock valued at $128,000 after purchasing an additional 2,399 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Tutor Perini in the 3rd quarter valued at about $201,000. 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.