Tutor Perini (NYSE:TPC) Trading Down 16.9% – Time to Sell?

Tutor Perini Co. (NYSE:TPC) shares were down 16.9% during trading on Tuesday . The company traded as low as $23.21 and last traded at $19.69. Approximately 19,181 shares changed hands during trading, a decline of 97% from the average daily volume of 597,450 shares. The stock had previously closed at $23.69.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. StockNews.com lowered Tutor Perini from a “buy” rating to a “hold” rating in a research note on Tuesday, January 28th. UBS Group boosted their target price on shares of Tutor Perini from $27.00 to $39.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. B. Riley raised their price target on shares of Tutor Perini from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, Vertical Research started coverage on shares of Tutor Perini in a research note on Tuesday, December 10th. They issued a “buy” rating and a $38.00 target price on the stock.

Tutor Perini Price Performance

The firm has a fifty day moving average of $24.34 and a two-hundred day moving average of $25.06. The stock has a market capitalization of $1.22 billion, a P/E ratio of -9.27 and a beta of 1.52. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.55 and a quick ratio of 1.55.

Insider Activity

In related news, Director Raymond R. Oneglia sold 50,000 shares of Tutor Perini stock in a transaction that occurred on Friday, November 22nd. The shares were 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 $7,170,000. This trade represents a 16.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 19.50% of the company’s stock.

Institutional Trading of Tutor Perini

Hedge funds have recently modified their holdings of the company. Plato Investment Management Ltd purchased a new stake in Tutor Perini during the third quarter valued at approximately $52,000. CWM LLC increased its position in shares of Tutor Perini by 53.0% during the third 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. FMR LLC increased its position in shares of Tutor Perini by 103.1% during the third quarter. FMR LLC now owns 4,725 shares of the construction company’s stock worth $128,000 after purchasing an additional 2,399 shares in the last quarter. State of Wyoming boosted its position in shares of Tutor Perini by 39.7% in the 4th quarter. State of Wyoming now owns 6,212 shares of the construction company’s stock worth $150,000 after purchasing an additional 1,764 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in Tutor Perini during the 3rd quarter worth $201,000. 65.01% of the stock is owned by hedge funds and other institutional investors.

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.