Tutor Perini (NYSE:TPC) Stock Price Down 2.5% – Here’s What Happened

Tutor Perini Co. (NYSE:TPC) traded down 2.5% during trading on Friday . The company traded as low as $26.61 and last traded at $26.89. 42,668 shares were traded during trading, a decline of 90% from the average session volume of 442,355 shares. The stock had previously closed at $27.57.

Tutor Perini Price Performance

The company has a fifty day moving average price of $24.21 and a two-hundred day moving average price of $21.38. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 0.50. The firm has a market cap of $1.43 billion, a P/E ratio of -13.36 and a beta of 1.50.

Tutor Perini (NYSE:TPC) last posted its quarterly earnings data on Thursday, August 1st. The construction company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.15). Tutor Perini had a negative return on equity of 4.49% and a negative net margin of 1.59%. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period in the prior year, the company earned ($0.72) earnings per share. The firm’s quarterly revenue was up 10.4% on a year-over-year basis. Equities analysts anticipate that Tutor Perini Co. will post 1.12 earnings per share for the current year.

Institutional Trading of Tutor Perini

Hedge funds and other institutional investors have recently made changes to their positions in the business. CWM LLC increased its stake in Tutor Perini by 142.8% in the 2nd quarter. CWM LLC now owns 1,714 shares of the construction company’s stock valued at $37,000 after buying an additional 1,008 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Tutor Perini in the 2nd quarter valued at about $51,000. nVerses Capital LLC bought a new position in shares of Tutor Perini in the 2nd quarter valued at about $63,000. USA Financial Formulas raised its holdings in Tutor Perini by 19.6% during the third quarter. USA Financial Formulas now owns 3,451 shares of the construction company’s stock worth $94,000 after acquiring an additional 566 shares in the last quarter. Finally, Quest Partners LLC boosted its position in Tutor Perini by 537.2% during the second quarter. Quest Partners LLC now owns 4,148 shares of the construction company’s stock valued at $90,000 after purchasing an additional 3,497 shares during the last quarter. 65.01% of the stock is currently owned by institutional investors and hedge funds.

Tutor Perini Company Profile

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.