StockNews.com Downgrades Tutor Perini (NYSE:TPC) 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 note issued on Friday.

Several other research firms have also recently issued reports on TPC. B. Riley increased their price objective on shares of Tutor Perini from $38.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, November 7th. UBS Group raised their price objective 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.

Tutor Perini Price Performance

Shares of NYSE:TPC opened at $27.73 on Friday. The firm’s 50 day moving average is $26.70 and its two-hundred day moving average is $23.26. Tutor Perini has a 52 week low of $7.74 and a 52 week high of $34.55. The firm has a market capitalization of $1.45 billion, a P/E ratio of -11.05 and a beta of 1.50. 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 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). The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.17 billion. Tutor Perini had a negative net margin of 3.08% and a negative return on equity of 9.56%. Tutor Perini’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.71) EPS. Analysts anticipate that Tutor Perini will post -1.47 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Ronald N. Tutor sold 125,000 shares of Tutor Perini stock in a transaction on 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 transaction, the chief executive officer now owns 3,257,313 shares in the company, 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 SEC, which is available through this link. Insiders own 19.50% of the company’s stock.

Institutional Trading of Tutor Perini

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. CWM LLC boosted its position in shares of Tutor Perini by 142.8% during the 2nd quarter. CWM LLC now owns 1,714 shares of the construction company’s stock valued at $37,000 after acquiring an additional 1,008 shares in the last quarter. Plato Investment Management Ltd bought a new stake in shares of Tutor Perini during the third quarter worth approximately $52,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Tutor Perini during the second quarter worth approximately $51,000. nVerses Capital LLC bought a new stake in shares of Tutor Perini during the second quarter worth approximately $63,000. Finally, USA Financial Formulas raised its stake in shares of 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 buying an additional 566 shares during the last quarter. 65.01% of the stock is currently owned by institutional investors and hedge funds.

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.