Tutor Perini (NYSE:TPC) Trading Down 3.1% – What’s Next?

Shares of Tutor Perini Co. (NYSE:TPC) fell 3.1% during mid-day trading on Tuesday . The company traded as low as $24.17 and last traded at $24.25. 71,900 shares traded hands during trading, a decline of 84% from the average session volume of 446,133 shares. The stock had previously closed at $25.03.

Analyst Ratings Changes

TPC has been the subject of several research analyst reports. StockNews.com downgraded shares of Tutor Perini from a “buy” rating to a “hold” rating in a research report on Wednesday. Vertical Research started coverage on Tutor Perini in a report on Tuesday, December 10th. They issued a “buy” rating and a $38.00 target price for the company. B. Riley lifted their price target on Tutor Perini from $38.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, UBS Group increased their price objective on Tutor Perini from $27.00 to $39.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd.

Tutor Perini Trading Down 2.8 %

The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.55 and a current ratio of 1.55. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of -9.70 and a beta of 1.49. The company’s 50 day simple moving average is $27.44 and its two-hundred day simple moving average is $24.62.

Tutor Perini (NYSE:TPC) last posted its quarterly 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 company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.17 billion. Tutor Perini had a negative return on equity of 9.56% and a negative net margin of 3.08%. The company’s revenue was up 2.1% compared to the same quarter last year. During the same period last year, the company posted ($0.71) earnings per share. Research analysts expect that Tutor Perini Co. will post -1.47 EPS for the current fiscal year.

Insider Transactions at Tutor Perini

In other Tutor Perini news, CEO Ronald N. Tutor sold 125,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Raymond R. Oneglia sold 100,000 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $28.73, for a total transaction of $2,873,000.00. Following the transaction, the director now owns 400,000 shares in the company, valued at $11,492,000. This represents a 20.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 325,000 shares of company stock valued at $9,686,000 in the last three months. Corporate insiders own 19.50% of the company’s stock.

Institutional Trading of Tutor Perini

Several large investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp boosted its position in Tutor Perini by 8.8% during the second quarter. Bank of New York Mellon Corp now owns 155,931 shares of the construction company’s stock worth $3,396,000 after purchasing an additional 12,622 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in shares of Tutor Perini in the second quarter worth $51,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Tutor Perini during the 2nd quarter worth $202,000. nVerses Capital LLC acquired a new position in Tutor Perini in the 2nd quarter valued at $63,000. Finally, Verus Capital Partners LLC raised its holdings in Tutor Perini by 61.9% in the 2nd quarter. Verus Capital Partners LLC now owns 345,900 shares of the construction company’s stock worth $7,534,000 after acquiring an additional 132,200 shares during the period. 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.