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

StockNews.com downgraded shares of Tutor Perini (NYSE:TPC) from a buy rating to a hold rating in a research report sent to investors on Friday.

A number of other brokerages have also recently issued reports on TPC. UBS Group boosted their target price on shares of Tutor Perini from $27.00 to $39.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. B. Riley boosted their price objective on shares of Tutor Perini from $38.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, November 7th.

Tutor Perini Stock Performance

TPC stock traded up $0.17 during mid-day trading on Friday, hitting $27.73. 318,488 shares of the company were exchanged, compared to its average volume of 526,131. Tutor Perini has a 1-year low of $7.74 and a 1-year high of $34.55. The stock has a market capitalization of $1.45 billion, a PE ratio of -11.05 and a beta of 1.50. The business has a 50 day simple moving average of $26.70 and a 200-day simple moving average of $23.22. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.53.

Tutor Perini (NYSE:TPC) last announced its earnings results on Wednesday, November 6th. The construction company reported ($1.92) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.89) by ($0.03). The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.17 billion. Tutor Perini had a negative return on equity of 9.56% and a negative net margin of 3.08%. Tutor Perini’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter last year, the business posted ($0.71) EPS. On average, equities analysts forecast that Tutor Perini will post -1.47 earnings per share for the current year.

Insider Buying and Selling at Tutor Perini

In other Tutor Perini news, CEO Ronald N. Tutor sold 125,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 3,257,313 shares of the company’s stock, valued at $100,064,655.36. This trade represents a 3.70 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 19.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in TPC. XTX Topco Ltd acquired a new stake in shares of Tutor Perini in the 2nd quarter valued at $746,000. Acadian Asset Management LLC boosted its stake in Tutor Perini by 152.0% in the first quarter. Acadian Asset Management LLC now owns 292,435 shares of the construction company’s stock valued at $4,227,000 after buying an additional 176,398 shares in the last quarter. Dark Forest Capital Management LP bought a new position in Tutor Perini in the second quarter valued at about $482,000. Caxton Associates LP raised its stake in Tutor Perini by 254.0% during the second quarter. Caxton Associates LP now owns 77,466 shares of the construction company’s stock worth $1,687,000 after acquiring an additional 55,583 shares in the last quarter. Finally, Texas Capital Bank Wealth Management Services Inc bought a new position in shares of Tutor Perini in the second quarter worth about $503,000. 65.01% of the stock is owned by institutional investors.

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.