Tutor Perini (NYSE:TPC) Stock Price Down 19% – Time to Sell?

Tutor Perini Co. (NYSE:TPC)’s stock price was down 19% during trading on Tuesday . The company traded as low as $23.51 and last traded at $19.54. Approximately 103,940 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 639,403 shares. The stock had previously closed at $24.11.

Analysts Set New Price Targets

Several analysts have issued reports on 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. Vertical Research assumed coverage on shares of Tutor Perini in a report on Tuesday, December 10th. They issued a “buy” rating and a $38.00 price objective for the company. StockNews.com cut shares of Tutor Perini from a “buy” rating to a “hold” rating in a report on Tuesday, January 28th. Finally, UBS Group boosted their price objective on shares of 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 Price Performance

The company has a market capitalization of $1.26 billion, a P/E ratio of -9.55 and a beta of 1.52. 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 business has a 50 day simple moving average of $24.81 and a 200-day simple moving average of $25.07.

Insider Activity at Tutor Perini

In other news, Director Raymond R. Oneglia sold 50,000 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $28.68, for a total transaction of $1,434,000.00. Following the transaction, the director now directly owns 250,000 shares of the company’s stock, valued at approximately $7,170,000. This trade represents a 16.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 19.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company raised its holdings in Tutor Perini by 3.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,874 shares of the construction company’s stock worth $368,000 after buying an additional 571 shares during the period. Creative Planning acquired a new stake in shares of Tutor Perini during the second quarter valued at approximately $312,000. Truist Financial Corp purchased a new stake in shares of Tutor Perini in the 2nd quarter valued at approximately $380,000. SG Americas Securities LLC grew its position in Tutor Perini by 44.1% during the 3rd quarter. SG Americas Securities LLC now owns 17,074 shares of the construction company’s stock worth $464,000 after purchasing an additional 5,223 shares in the last quarter. Finally, CWM LLC grew its position in Tutor Perini by 53.0% during the 3rd quarter. CWM LLC now owns 2,622 shares of the construction company’s stock worth $71,000 after purchasing an additional 908 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.