Tutor Perini (NYSE:TPC) Downgraded by StockNews.com 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 report issued to clients and investors on Friday.

Several other analysts also recently weighed in on TPC. UBS Group lifted their target price on shares of Tutor Perini from $27.00 to $39.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. B. Riley boosted their price objective on shares of Tutor Perini from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, November 7th.

Tutor Perini Stock Performance

Shares of TPC stock opened at $27.53 on Friday. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.53. Tutor Perini has a 52 week low of $7.74 and a 52 week high of $34.55. The stock has a market capitalization of $1.44 billion, a PE ratio of -10.97 and a beta of 1.50. The firm has a 50 day moving average of $26.58 and a two-hundred day moving average of $23.15.

Tutor Perini (NYSE:TPC) last announced its quarterly earnings results on Wednesday, November 6th. The construction company reported ($1.92) EPS for the quarter, missing the consensus estimate 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 company 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 business earned ($0.71) earnings per share. Tutor Perini’s revenue was up 2.1% compared to the same quarter last year. On average, research analysts predict that Tutor Perini will post -1.47 EPS for the current fiscal year.

Insider Activity at Tutor Perini

In other Tutor Perini news, CEO Ronald N. Tutor sold 125,000 shares of the firm’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 completion of the transaction, the chief executive officer now directly owns 3,257,313 shares of the company’s stock, valued at $100,064,655.36. This trade represents a 3.70 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 19.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TPC. Fred Alger Management LLC bought a new position in shares of Tutor Perini in the 3rd quarter worth about $16,034,000. Hennessy Advisors Inc. bought a new stake in Tutor Perini in the 2nd quarter valued at about $12,362,000. American Century Companies Inc. lifted its position in Tutor Perini by 59.9% in the 2nd quarter. American Century Companies Inc. now owns 759,665 shares of the construction company’s stock valued at $16,546,000 after purchasing an additional 284,627 shares during the last quarter. Acadian Asset Management LLC lifted its position in Tutor Perini by 84.4% in the 2nd quarter. Acadian Asset Management LLC now owns 539,336 shares of the construction company’s stock valued at $11,742,000 after purchasing an additional 246,901 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Tutor Perini by 9.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,399,544 shares of the construction company’s stock valued at $52,263,000 after purchasing an additional 198,348 shares during the last quarter. 65.01% of the stock is currently owned by 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.