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

StockNews.com cut shares of Tutor Perini (NYSE:TPC) from a buy rating to a hold rating in a research note released on Tuesday morning.

A number of other brokerages have also recently commented on TPC. UBS Group raised their price target on shares of Tutor Perini from $27.00 to $39.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Vertical Research began coverage on Tutor Perini in a research report on Tuesday, December 10th. They set a “buy” rating and a $38.00 target price for the company. Finally, B. Riley upped their price target on Tutor Perini from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, November 7th.

Tutor Perini Price Performance

Shares of NYSE:TPC opened at $19.72 on Tuesday. The business’s 50 day moving average is $25.63 and its 200-day moving average is $25.15. 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 firm has a market capitalization of $1.03 billion, a PE ratio of -7.85 and a beta of 1.54. Tutor Perini has a 1-year low of $8.45 and a 1-year high of $34.55.

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 return on equity of 9.56% and a negative net margin of 3.08%. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the prior year, the firm earned ($0.71) EPS. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. Sell-side analysts predict that Tutor Perini will post -1.47 earnings per share for the current year.

Insider Activity

In related news, CEO Ronald N. Tutor sold 50,000 shares of Tutor Perini stock in a transaction dated Friday, November 8th. The stock was 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 directly owns 2,362,267 shares of the company’s stock, valued at $72,710,578.26. The trade was a 2.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Raymond R. Oneglia sold 100,000 shares of the 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 directly owns 400,000 shares in the company, valued at approximately $11,492,000. This represents a 20.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 325,000 shares of company stock worth $9,686,000. Insiders own 19.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Barclays PLC lifted its stake in shares of Tutor Perini by 298.0% during the third quarter. Barclays PLC now owns 69,875 shares of the construction company’s stock valued at $1,898,000 after acquiring an additional 52,319 shares during the period. Foundry Partners LLC grew its position in shares of Tutor Perini by 18.2% during the 3rd quarter. Foundry Partners LLC now owns 216,915 shares of the construction company’s stock worth $5,891,000 after buying an additional 33,440 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Tutor Perini by 611.0% during the third quarter. JPMorgan Chase & Co. now owns 536,384 shares of the construction company’s stock worth $14,568,000 after buying an additional 460,945 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Tutor Perini by 3.9% in the third quarter. Geode Capital Management LLC now owns 1,023,198 shares of the construction company’s stock valued at $27,795,000 after buying an additional 38,458 shares during the period. Finally, Empowered Funds LLC boosted its stake in Tutor Perini by 13.9% in the third quarter. Empowered Funds LLC now owns 268,521 shares of the construction company’s stock valued at $7,293,000 after acquiring an additional 32,676 shares during the last quarter. Institutional investors and hedge funds 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.