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

StockNews.com cut shares of Tutor Perini (NYSE:TPC) from a buy rating to a hold rating in a research report sent to investors on Friday.

Other equities analysts also recently issued research reports about the company. B. Riley upped their price objective on Tutor Perini from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. UBS Group upped their price target on Tutor Perini from $27.00 to $39.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd.

Tutor Perini Stock Up 0.6 %

TPC stock opened at $27.73 on Friday. The stock has a market cap of $1.45 billion, a P/E 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. The stock’s fifty day simple moving average is $26.70 and its two-hundred day simple moving average is $23.31. Tutor Perini has a 1-year low of $7.74 and a 1-year high of $34.55.

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 the consensus estimate of ($1.89) by ($0.03). The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.17 billion. Tutor Perini had a negative net margin of 3.08% and a negative return on equity of 9.56%. Tutor Perini’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.71) EPS. Analysts expect that Tutor Perini will post -1.47 EPS for the current year.

Insider Activity

In other Tutor Perini news, CEO Ronald N. Tutor sold 125,000 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $30.72, for a total transaction of $3,840,000.00. Following the sale, the chief executive officer now 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 19.50% of the company’s stock.

Hedge Funds Weigh In On Tutor Perini

Several hedge funds have recently made changes to their positions in TPC. BNP Paribas Financial Markets boosted its stake in Tutor Perini by 56.6% in the 1st quarter. BNP Paribas Financial Markets now owns 47,614 shares of the construction company’s stock worth $688,000 after purchasing an additional 17,204 shares during the period. Vanguard Group Inc. grew its stake in 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 acquiring an additional 25,246 shares in the last quarter. Acadian Asset Management LLC grew its stake in Tutor Perini by 152.0% during the first quarter. Acadian Asset Management LLC now owns 292,435 shares of the construction company’s stock valued at $4,227,000 after acquiring an additional 176,398 shares in the last quarter. Donald Smith & CO. Inc. increased its holdings in Tutor Perini by 3.9% during 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 during the period. Finally, Hillsdale Investment Management Inc. purchased a new stake in Tutor Perini in the 1st quarter worth approximately $224,000. 65.01% of the stock is currently owned by hedge funds and other 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.