Tutor Perini (NYSE:TPC) Shares Down 17.6% – Here’s What Happened

Shares of Tutor Perini Co. (NYSE:TPC) were down 17.6% during mid-day trading on Monday . The stock traded as low as $22.36 and last traded at $19.39. Approximately 17,607 shares changed hands during trading, a decline of 97% from the average daily volume of 515,541 shares. The stock had previously closed at $23.52.

Wall Street Analyst Weigh In

A number of analysts have weighed in on TPC shares. B. Riley raised shares of Tutor Perini to a “strong-buy” rating in a report on Tuesday, March 18th. StockNews.com downgraded shares of Tutor Perini from a “buy” rating to a “hold” rating in a report on Tuesday, January 28th. Finally, Vertical Research initiated coverage on shares of Tutor Perini in a report on Tuesday, December 10th. They issued a “buy” rating and a $38.00 price objective on the stock.

Tutor Perini Trading Down 2.4 %

The firm has a 50-day moving average of $24.41 and a 200 day moving average of $25.72. 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 market capitalization of $1.20 billion, a price-to-earnings ratio of -7.69 and a beta of 1.73.

Tutor Perini (NYSE:TPC) last issued its quarterly earnings results on Thursday, February 27th. The construction company reported ($1.51) EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($1.80). The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.08 billion. Tutor Perini had a negative net margin of 3.08% and a negative return on equity of 9.56%. During the same period last year, the business posted ($0.91) earnings per share.

Institutional Investors Weigh In On Tutor Perini

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TPC. Barclays PLC boosted its stake in Tutor Perini by 298.0% during the 3rd quarter. Barclays PLC now owns 69,875 shares of the construction company’s stock valued at $1,898,000 after purchasing an additional 52,319 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Tutor Perini by 611.0% during the third quarter. JPMorgan Chase & Co. now owns 536,384 shares of the construction company’s stock valued at $14,568,000 after buying an additional 460,945 shares in the last quarter. Geode Capital Management LLC grew its holdings in Tutor Perini by 3.9% during the third quarter. Geode Capital Management LLC now owns 1,023,198 shares of the construction company’s stock worth $27,795,000 after acquiring an additional 38,458 shares during the period. Assenagon Asset Management S.A. raised its position in Tutor Perini by 67.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 93,202 shares of the construction company’s stock worth $2,255,000 after acquiring an additional 37,478 shares in the last quarter. Finally, State Street Corp lifted its holdings in Tutor Perini by 2.0% in the 3rd quarter. State Street Corp now owns 975,082 shares of the construction company’s stock valued at $26,483,000 after acquiring an additional 19,518 shares during the last quarter. Institutional investors 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.