Tutor Perini (NYSE:TPC) Coverage Initiated by Analysts at Vertical Research

Vertical Research assumed coverage on shares of Tutor Perini (NYSE:TPC) in a report issued on Tuesday morning, MarketBeat.com reports. The firm issued a buy rating and a $38.00 price objective on the construction company’s stock.

A number of other equities analysts have also recently issued reports on TPC. B. Riley raised their target price 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. UBS Group boosted their price objective on Tutor Perini from $27.00 to $39.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, StockNews.com lowered Tutor Perini from a “buy” rating to a “hold” rating in a research report on Friday, November 15th.

Tutor Perini Trading Down 0.3 %

NYSE:TPC opened at $26.26 on Tuesday. Tutor Perini has a 52 week low of $7.83 and a 52 week high of $34.55. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.53. The company has a market cap of $1.38 billion, a PE ratio of -10.46 and a beta of 1.49. The business’s 50 day moving average is $27.72 and its two-hundred day moving average is $24.31.

Tutor Perini (NYSE:TPC) last released its quarterly earnings data on Wednesday, November 6th. The construction company reported ($1.92) EPS for the quarter, missing analysts’ consensus estimates of ($1.89) by ($0.03). The business 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 business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.71) EPS. On average, analysts predict that Tutor Perini will post -1.47 EPS for the current year.

Insider Buying and Selling at Tutor Perini

In related news, CEO Ronald N. Tutor sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $30.78, for a total transaction of $1,539,000.00. Following the sale, the chief executive officer now owns 2,362,267 shares of the company’s stock, valued at $72,710,578.26. The trade was a 2.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Raymond R. Oneglia sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $28.73, for a total value of $2,873,000.00. Following the completion of the sale, the director now owns 400,000 shares of the company’s stock, valued at $11,492,000. This trade represents a 20.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 325,000 shares of company stock valued at $9,686,000 in the last quarter. Corporate insiders own 19.50% of the company’s stock.

Institutional Investors Weigh In On Tutor Perini

Several hedge funds and other institutional investors have recently bought and sold shares of TPC. Price T Rowe Associates Inc. MD acquired a new position in shares of Tutor Perini in the 1st quarter worth approximately $177,000. CWM LLC increased its holdings in shares of Tutor Perini by 142.8% in the second quarter. CWM LLC now owns 1,714 shares of the construction company’s stock valued at $37,000 after buying an additional 1,008 shares in the last quarter. Hennessy Advisors Inc. acquired a new stake in shares of Tutor Perini during the 2nd quarter valued at $12,362,000. Bank of New York Mellon Corp boosted its stake in shares of Tutor Perini by 8.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 155,931 shares of the construction company’s stock worth $3,396,000 after acquiring an additional 12,622 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of Tutor Perini in the 2nd quarter worth $51,000. 65.01% of the stock is currently owned by institutional investors.

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.