Tutor Perini (NYSE:TPC) Shares Down 3.1% – Here’s Why

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.

Analysts Set New Price Targets

TPC has been the topic of several research analyst reports. Vertical Research began coverage on shares of Tutor Perini in a research note on Tuesday, December 10th. They set a “buy” rating and a $38.00 price target on the stock. StockNews.com raised Tutor Perini from a “hold” rating to a “buy” rating in a research note on Monday, December 16th. B. Riley boosted their target price on Tutor Perini from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, UBS Group raised their price target on Tutor Perini from $27.00 to $39.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd.

Tutor Perini Price Performance

The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of -9.65 and a beta of 1.49. 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’s fifty day moving average is $27.56 and its two-hundred day moving average is $24.59.

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

Insider Transactions at Tutor Perini

In other news, Director Raymond R. Oneglia sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $28.73, for a total transaction of $2,873,000.00. Following 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Ronald N. Tutor sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $30.78, for a total value of $1,539,000.00. Following the completion of the transaction, the chief executive officer now owns 2,362,267 shares of the company’s stock, valued at $72,710,578.26. This represents a 2.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 325,000 shares of company stock worth $9,686,000. 19.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Fred Alger Management LLC bought a new position in shares of Tutor Perini during the third quarter worth about $16,034,000. Jacobs Levy Equity Management Inc. raised its holdings in shares of Tutor Perini by 129.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 783,396 shares of the construction company’s stock valued at $21,277,000 after purchasing an additional 441,858 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Tutor Perini by 59.9% in the second quarter. American Century Companies Inc. now owns 759,665 shares of the construction company’s stock worth $16,546,000 after purchasing an additional 284,627 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in Tutor Perini by 84.4% during the second quarter. Acadian Asset Management LLC now owns 539,336 shares of the construction company’s stock worth $11,742,000 after purchasing an additional 246,901 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Tutor Perini by 9.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,399,544 shares of the construction company’s stock valued at $52,263,000 after purchasing an additional 198,348 shares in the last quarter. 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.