Tutor Perini (NYSE:TPC) Rating Lowered to Hold at StockNews.com

StockNews.com lowered shares of Tutor Perini (NYSE:TPC) from a buy rating to a hold rating in a report released on Friday.

A number of other research firms also recently weighed in on TPC. UBS Group boosted their target price on Tutor Perini from $27.00 to $39.00 and gave the stock 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 stock a “buy” rating in a report on Thursday, November 7th.

Tutor Perini Price Performance

TPC stock opened at $27.73 on Friday. The firm has a 50 day simple moving average of $26.70 and a two-hundred day simple moving average of $23.31. The stock has a market cap of $1.45 billion, a PE ratio of -11.05 and a beta of 1.50. Tutor Perini has a one year low of $7.74 and a one year high of $34.55. 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 announced its earnings results on Wednesday, November 6th. The construction company reported ($1.92) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.89) by ($0.03). Tutor Perini had a negative return on equity of 9.56% and a negative net margin of 3.08%. The company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter last year, the firm posted ($0.71) earnings per share. The firm’s revenue was up 2.1% on a year-over-year basis. On average, analysts predict that Tutor Perini will post -1.47 EPS for the current fiscal year.

Insider Activity

In related news, CEO Ronald N. Tutor sold 125,000 shares of Tutor Perini stock in a transaction on 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. The trade was a 3.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 19.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tutor Perini

A number of large investors have recently added to or reduced their stakes in TPC. CWM LLC boosted its holdings in shares of Tutor Perini by 142.8% during the second quarter. CWM LLC now owns 1,714 shares of the construction company’s stock worth $37,000 after purchasing an additional 1,008 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in Tutor Perini in the second quarter worth $51,000. Plato Investment Management Ltd bought a new stake in Tutor Perini in the third quarter valued at $52,000. nVerses Capital LLC purchased a new position in Tutor Perini during the 2nd quarter valued at $63,000. Finally, EntryPoint Capital LLC bought a new position in Tutor Perini in the 1st quarter worth $77,000. 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.