StockNews.com Downgrades Tutor Perini (NYSE:TPC) to Hold

Tutor Perini (NYSE:TPC) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

Several other analysts have also issued reports on TPC. B. Riley upped their price target on shares of Tutor Perini from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. UBS Group increased their price target on Tutor Perini from $27.00 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd.

Tutor Perini Stock Performance

Shares of TPC opened at $27.73 on Friday. Tutor Perini has a 12 month low of $7.74 and a 12 month high of $34.55. The firm has a fifty day simple moving average of $26.70 and a 200 day simple moving average of $23.26. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of -11.05 and a beta of 1.50. 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) 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 business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the previous year, the company posted ($0.71) EPS. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. Research analysts forecast that Tutor Perini will post -1.47 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Ronald N. Tutor sold 50,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $30.78, for a total value of $1,539,000.00. Following the sale, the chief executive officer now directly owns 2,362,267 shares of the company’s stock, valued at $72,710,578.26. This trade represents a 2.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 19.50% of the stock is owned by company insiders.

Institutional Trading of Tutor Perini

A number of hedge funds have recently made changes to their positions in TPC. Donald Smith & CO. Inc. raised its position in shares of Tutor Perini by 3.9% in the 1st quarter. Donald Smith & CO. Inc. now owns 4,052,678 shares of the construction company’s stock worth $58,602,000 after acquiring an additional 152,779 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Tutor Perini by 9.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,399,544 shares of the construction company’s stock valued at $52,263,000 after buying an additional 198,348 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Tutor Perini by 1.1% during the first quarter. Vanguard Group Inc. now owns 2,333,269 shares of the construction company’s stock valued at $33,739,000 after purchasing an additional 25,246 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Tutor Perini by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,023,198 shares of the construction company’s stock worth $27,795,000 after buying an additional 38,458 shares in the last quarter. Finally, State Street Corp lifted its holdings in Tutor Perini by 2.0% during the third quarter. State Street Corp now owns 975,082 shares of the construction company’s stock worth $26,483,000 after acquiring an additional 19,518 shares during the period. 65.01% of the stock is 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.