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

Tutor Perini (NYSE:TPC) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

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

Tutor Perini Price Performance

TPC opened at $27.53 on Friday. The stock has a 50-day moving average price of $26.58 and a 200-day moving average price of $23.15. The stock has a market capitalization of $1.44 billion, a P/E ratio of -10.97 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 has a 12-month low of $7.74 and a 12-month high of $34.55.

Tutor Perini (NYSE:TPC) last announced its earnings results on Wednesday, November 6th. The construction company reported ($1.92) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.89) by ($0.03). The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.17 billion. Tutor Perini had a negative return on equity of 9.56% and a negative net margin of 3.08%. The firm’s revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the company posted ($0.71) EPS. Equities analysts predict that Tutor Perini will post -1.47 earnings per share for the current fiscal year.

Insider Buying and Selling

In other 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 19.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tutor Perini

Several hedge funds have recently added to or reduced their stakes in the business. Fred Alger Management LLC purchased a new stake in shares of Tutor Perini during the 3rd quarter worth about $16,034,000. Martingale Asset Management L P raised its position in shares of Tutor Perini by 21.8% during the 3rd quarter. Martingale Asset Management L P now owns 20,806 shares of the construction company’s stock worth $565,000 after purchasing an additional 3,721 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Tutor Perini by 7.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 60,331 shares of the construction company’s stock worth $1,639,000 after purchasing an additional 4,070 shares during the last quarter. Brightline Capital Management LLC raised its position in shares of Tutor Perini by 5.5% during the 3rd quarter. Brightline Capital Management LLC now owns 560,000 shares of the construction company’s stock worth $15,210,000 after purchasing an additional 29,000 shares during the last quarter. Finally, FMR LLC raised its holdings in Tutor Perini by 103.1% in the 3rd quarter. FMR LLC now owns 4,725 shares of the construction company’s stock valued at $128,000 after acquiring an additional 2,399 shares during the last quarter. 65.01% of the stock is 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.