Tutor Perini (NYSE:TPC) Shares Gap Down – What’s Next?

Tutor Perini Co. (NYSE:TPC)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $29.72, but opened at $28.32. Tutor Perini shares last traded at $28.86, with a volume of 43,600 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TPC. B. Riley boosted their price target on Tutor Perini from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. StockNews.com lowered Tutor Perini from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Finally, UBS Group raised their price target on Tutor Perini from $27.00 to $39.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd.

Tutor Perini Trading Down 1.8 %

The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.53. The business has a fifty day simple moving average of $27.12 and a 200 day simple moving average of $23.51.

Tutor Perini (NYSE:TPC) last released its quarterly earnings results on Wednesday, November 6th. The construction company reported ($1.92) EPS for the quarter, missing analysts’ consensus estimates of ($1.89) by ($0.03). The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.17 billion. Tutor Perini had a negative return on equity of 9.56% and a negative net margin of 3.08%. Tutor Perini’s revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.71) earnings per share. Equities analysts forecast that Tutor Perini Co. will post -1.47 earnings per share for the current fiscal year.

Insider Activity at Tutor Perini

In other news, CEO Ronald N. Tutor sold 125,000 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $30.72, for a total transaction of $3,840,000.00. Following the completion of the sale, the chief executive officer now directly owns 3,257,313 shares in the company, valued at approximately $100,064,655.36. This represents a 3.70 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 19.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tutor Perini

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Tutor Perini by 1.1% during the first quarter. Vanguard Group Inc. now owns 2,333,269 shares of the construction company’s stock valued at $33,739,000 after purchasing an additional 25,246 shares in the last quarter. EntryPoint Capital LLC bought a new position in Tutor Perini in the first quarter valued at about $77,000. Quadrature Capital Ltd lifted its holdings in shares of Tutor Perini by 55.1% in the first quarter. Quadrature Capital Ltd now owns 41,457 shares of the construction company’s stock worth $601,000 after acquiring an additional 14,720 shares during the last quarter. Price T Rowe Associates Inc. MD acquired a new stake in shares of Tutor Perini in the 1st quarter valued at approximately $177,000. Finally, CWM LLC grew its holdings 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 purchasing an additional 1,008 shares during the last quarter. Institutional investors own 65.01% of the company’s stock.

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.