Tutor Perini (NYSE:TPC) Lowered to “Hold” Rating 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 research report issued to clients and investors on Tuesday.

Other research analysts also recently issued research reports about the stock. UBS Group lifted their price objective on shares of Tutor Perini from $27.00 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. B. Riley lifted their price target 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. Finally, Vertical Research began coverage on Tutor Perini in a report on Tuesday, December 10th. They set a “buy” rating and a $38.00 price objective for the company.

Tutor Perini Stock Up 0.8 %

Shares of NYSE TPC opened at $24.29 on Tuesday. Tutor Perini has a 12-month low of $8.45 and a 12-month high of $34.55. The stock’s fifty day simple moving average is $25.54 and its two-hundred day simple moving average is $25.14. The stock has a market capitalization of $1.27 billion, a PE ratio of -9.68 and a beta of 1.54. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.53.

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 analysts’ consensus estimates of ($1.89) by ($0.03). Tutor Perini had a negative net margin of 3.08% and a negative return on equity of 9.56%. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the previous year, the business earned ($0.71) EPS. Tutor Perini’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, analysts expect that Tutor Perini will post -1.47 EPS for the current fiscal year.

Insider Activity at Tutor Perini

In other Tutor Perini news, Director Raymond R. Oneglia sold 100,000 shares of the business’s 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 owns 400,000 shares in the company, valued at approximately $11,492,000. The trade was a 20.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ronald N. Tutor sold 125,000 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $30.72, for a total value of $3,840,000.00. Following the completion of the transaction, the chief executive officer now directly owns 3,257,313 shares in the company, valued at $100,064,655.36. This represents a 3.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 325,000 shares of company stock valued at $9,686,000 in the last three months. 19.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Tutor Perini

Large investors have recently bought and sold shares of the company. Geode Capital Management LLC raised its position in Tutor Perini by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,023,198 shares of the construction company’s stock worth $27,795,000 after buying an additional 38,458 shares during the last quarter. State Street Corp increased its stake in shares of Tutor Perini by 2.0% in the third quarter. State Street Corp now owns 975,082 shares of the construction company’s stock worth $26,483,000 after acquiring an additional 19,518 shares during the period. Jacobs Levy Equity Management Inc. increased its stake in shares of Tutor Perini by 129.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 783,396 shares of the construction company’s stock worth $21,277,000 after acquiring an additional 441,858 shares during the period. Hennessy Advisors Inc. raised its holdings in shares of Tutor Perini by 6.8% during the fourth quarter. Hennessy Advisors Inc. now owns 682,981 shares of the construction company’s stock worth $16,528,000 after purchasing an additional 43,600 shares during the last quarter. Finally, Fred Alger Management LLC acquired a new position in Tutor Perini during the third quarter valued at $16,034,000. Hedge funds and other 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.