Tutor Perini (NYSE:TPC) Shares Gap Up to $21.95

Tutor Perini Co. (NYSE:TPC)’s share price gapped up before the market opened on Friday . The stock had previously closed at $21.95, but opened at $22.57. Tutor Perini shares last traded at $22.58, with a volume of 88,324 shares.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. StockNews.com upgraded Tutor Perini from a “hold” rating to a “buy” rating in a research note on Friday, April 26th. UBS Group upgraded Tutor Perini from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $14.00 to $27.00 in a research report on Friday, June 14th.

Tutor Perini Price Performance

The company has a 50-day simple moving average of $19.69 and a 200-day simple moving average of $13.85. The stock has a market cap of $1.14 billion, a PE ratio of -10.68 and a beta of 1.51. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.70 and a quick ratio of 1.70.

Tutor Perini (NYSE:TPC) last released its quarterly earnings data on Thursday, April 25th. The construction company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.48. The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $919.60 million. Tutor Perini had a negative return on equity of 8.03% and a negative net margin of 2.56%. Sell-side analysts anticipate that Tutor Perini Co. will post 1.1 EPS for the current fiscal year.

Insider Transactions at Tutor Perini

In other news, CEO Ronald N. Tutor sold 25,000 shares of Tutor Perini stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $19.40, for a total transaction of $485,000.00. Following the completion of the transaction, the chief executive officer now owns 2,387,267 shares of the company’s stock, valued at approximately $46,312,979.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Ghassan Ariqat sold 11,855 shares of Tutor Perini stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $19.62, for a total transaction of $232,595.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Ronald N. Tutor sold 25,000 shares of Tutor Perini stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $19.40, for a total value of $485,000.00. Following the sale, the chief executive officer now owns 2,387,267 shares of the company’s stock, valued at approximately $46,312,979.80. The disclosure for this sale can be found here. Insiders sold 243,728 shares of company stock valued at $4,870,217 in the last 90 days. 19.50% of the stock is currently owned by insiders.

Institutional Trading of Tutor Perini

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Donald Smith & CO. Inc. increased its position in Tutor Perini by 3.9% during the 1st quarter. Donald Smith & CO. Inc. now owns 4,052,678 shares of the construction company’s stock worth $58,602,000 after purchasing an additional 152,779 shares in the last quarter. Vanguard Group Inc. grew its holdings in Tutor Perini by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 2,333,269 shares of the construction company’s stock valued at $33,739,000 after buying an additional 25,246 shares during the period. Dimensional Fund Advisors LP grew its holdings in Tutor Perini by 2.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,085,769 shares of the construction company’s stock valued at $18,981,000 after buying an additional 55,823 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Tutor Perini by 2.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,992,319 shares of the construction company’s stock valued at $18,130,000 after buying an additional 53,927 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in Tutor Perini in the 4th quarter valued at about $6,467,000. 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.