Tutor Perini (NYSE:TPC – Get Free Report) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.
Tutor Perini Stock Down 1.9 %
Shares of Tutor Perini stock traded down $0.24 during midday trading on Thursday, reaching $12.44. 432,975 shares of the company’s stock traded hands, compared to its average volume of 264,521. Tutor Perini has a 52 week low of $4.90 and a 52 week high of $13.39. The company’s 50 day simple moving average is $9.56 and its 200 day simple moving average is $8.59. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.66 and a current ratio of 1.66. The company has a market cap of $647.25 million, a price-to-earnings ratio of -3.78 and a beta of 1.59.
Tutor Perini (NYSE:TPC – Get Free Report) last posted its earnings results on Wednesday, February 28th. The construction company reported ($0.91) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.98). Tutor Perini had a negative net margin of 4.41% and a negative return on equity of 12.73%. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $951.50 million. Equities analysts expect that Tutor Perini will post 0.98 earnings per share for the current fiscal year.
Insider Activity at Tutor Perini
In other Tutor Perini news, Director Dale Anne Reiss sold 6,922 shares of the stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $8.67, for a total value of $60,013.74. Following the completion of the sale, the director now directly owns 37,203 shares of the company’s stock, valued at approximately $322,550.01. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Tutor Perini news, Director Dale Anne Reiss sold 6,922 shares of the stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $8.67, for a total value of $60,013.74. Following the completion of the sale, the director now directly owns 37,203 shares of the company’s stock, valued at approximately $322,550.01. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Ronald N. Tutor sold 45,330 shares of the stock in a transaction on Monday, December 18th. The shares were sold at an average price of $8.67, for a total transaction of $393,011.10. Following the completion of the sale, the chief executive officer now directly owns 3,341,610 shares of the company’s stock, valued at $28,971,758.70. The disclosure for this sale can be found here. 20.90% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Tutor Perini
Hedge funds have recently made changes to their positions in the business. Barclays PLC raised its stake in shares of Tutor Perini by 79.5% in the 3rd quarter. Barclays PLC now owns 34,456 shares of the construction company’s stock valued at $269,000 after buying an additional 15,262 shares in the last quarter. Commerce Bank raised its stake in shares of Tutor Perini by 10.6% in the 2nd quarter. Commerce Bank now owns 28,242 shares of the construction company’s stock valued at $202,000 after buying an additional 2,705 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Tutor Perini by 9.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,697,413 shares of the construction company’s stock valued at $13,291,000 after buying an additional 146,033 shares in the last quarter. Acadian Asset Management LLC acquired a new position in shares of Tutor Perini in the 3rd quarter valued at $697,000. Finally, Levin Capital Strategies L.P. grew its holdings in shares of Tutor Perini by 4.3% in the 3rd quarter. Levin Capital Strategies L.P. now owns 231,824 shares of the construction company’s stock worth $1,815,000 after purchasing an additional 9,500 shares during the last quarter. Institutional investors and hedge funds own 63.61% 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.