Tutor Perini (NYSE:TPC) Stock Rating Lowered by StockNews.com

Tutor Perini (NYSE:TPC) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Wednesday.

TPC has been the topic of several other research reports. Vertical Research began coverage on Tutor Perini in a research report on Tuesday, December 10th. They set a “buy” rating and a $38.00 price target on the stock. B. Riley lifted their target price on shares of Tutor Perini from $38.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, UBS Group upped their price target 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 Stock Down 2.8 %

TPC stock traded down $0.69 during trading on Wednesday, hitting $24.34. 246,885 shares of the company’s stock were exchanged, compared to its average volume of 446,905. The business has a 50-day moving average price of $27.44 and a two-hundred day moving average price of $24.62. 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 has a market capitalization of $1.28 billion, a price-to-earnings ratio of -9.70 and a beta of 1.49. Tutor Perini has a 52-week low of $7.83 and a 52-week high of $34.55.

Tutor Perini (NYSE:TPC) last issued its quarterly earnings data 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 analysts’ expectations 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 quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.71) EPS. As a group, equities research analysts expect that Tutor Perini will post -1.47 EPS for the current year.

Insiders Place Their Bets

In related news, Director Raymond R. Oneglia sold 50,000 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $28.68, for a total value of $1,434,000.00. Following the completion of the sale, the director now owns 250,000 shares in the company, valued at $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 available at this link. Also, CEO Ronald N. Tutor sold 125,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $30.72, for a total value of $3,840,000.00. Following the transaction, the chief executive officer now owns 3,257,313 shares in the company, valued at $100,064,655.36. The trade was a 3.70 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 325,000 shares of company stock valued at $9,686,000. 19.50% of the stock is owned by company insiders.

Institutional Trading of Tutor Perini

Several hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC purchased a new stake in Tutor Perini during the second quarter worth about $51,000. Plato Investment Management Ltd purchased a new stake in shares of Tutor Perini during the 3rd quarter worth approximately $52,000. nVerses Capital LLC acquired a new stake in shares of Tutor Perini in the 2nd quarter worth approximately $63,000. CWM LLC increased its stake in Tutor Perini by 53.0% in the 3rd quarter. CWM LLC now owns 2,622 shares of the construction company’s stock valued at $71,000 after purchasing an additional 908 shares in the last quarter. Finally, Quest Partners LLC raised its holdings in Tutor Perini by 537.2% during the second quarter. Quest Partners LLC now owns 4,148 shares of the construction company’s stock worth $90,000 after purchasing an additional 3,497 shares during the last quarter. 65.01% of the stock is owned by institutional investors and hedge funds.

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.