Tutor Perini (NYSE:TPC) Shares Down 6%

Tutor Perini Co. (NYSE:TPC)’s stock price was down 6% during trading on Friday . The company traded as low as $20.74 and last traded at $20.74. Approximately 109,798 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 421,444 shares. The stock had previously closed at $22.06.

Analyst Ratings Changes

TPC has been the subject of a number of research reports. UBS Group upgraded Tutor Perini from a “neutral” rating to a “buy” rating and lifted their target price for the company from $14.00 to $27.00 in a research note on Friday, June 14th. StockNews.com raised Tutor Perini from a “hold” rating to a “buy” rating in a report on Friday, April 26th.

Tutor Perini Stock Down 1.7 %

The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of -10.63 and a beta of 1.51. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.60. The firm has a 50-day moving average of $18.85 and a two-hundred day moving average of $13.38.

Tutor Perini (NYSE:TPC) last issued its earnings results on Thursday, April 25th. The construction company reported $0.30 earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.48. Tutor Perini had a negative return on equity of 8.03% and a negative net margin of 2.56%. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $919.60 million. As a group, sell-side analysts anticipate that Tutor Perini Co. will post 1.1 earnings per share for the current year.

Insider Activity

In other news, CEO Ronald N. Tutor sold 25,000 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $19.40, for a total value of $485,000.00. Following the sale, the chief executive officer now directly owns 2,387,267 shares in the company, valued at $46,312,979.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Ronald N. Tutor sold 25,000 shares of Tutor Perini stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $19.40, for a total value of $485,000.00. Following the sale, the chief executive officer now owns 2,387,267 shares of the company’s stock, valued at $46,312,979.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael R. Klein sold 181,155 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $19.99, for a total value of $3,621,288.45. Following the transaction, the director now directly owns 208,976 shares in the company, valued at approximately $4,177,430.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 243,728 shares of company stock valued at $4,870,217. Company insiders own 19.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TPC. Charles Schwab Investment Management Inc. lifted its position in Tutor Perini by 2.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,992,319 shares of the construction company’s stock valued at $18,130,000 after acquiring an additional 53,927 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in Tutor Perini in the 4th quarter valued at about $6,467,000. Donald Smith & CO. Inc. increased its stake in Tutor Perini by 20.4% in the 4th quarter. Donald Smith & CO. Inc. now owns 3,899,899 shares of the construction company’s stock valued at $35,489,000 after buying an additional 659,657 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in Tutor Perini by 262.2% in the 1st quarter. Assenagon Asset Management S.A. now owns 184,461 shares of the construction company’s stock valued at $2,667,000 after buying an additional 133,534 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its stake in Tutor Perini by 25.7% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 420,821 shares of the construction company’s stock valued at $3,295,000 after buying an additional 86,141 shares during 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.