Tutor Perini Corp (NYSE:TPC)’s stock price traded up 8.8% during mid-day trading on Monday . The company traded as high as $10.93 and last traded at $10.92, 512,004 shares changed hands during trading. An increase of 16% from the average session volume of 441,809 shares. The stock had previously closed at $10.04.
A number of equities research analysts have weighed in on TPC shares. TheStreet downgraded shares of Tutor Perini from a “c” rating to a “d” rating in a report on Thursday, August 29th. Zacks Investment Research cut shares of Tutor Perini from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 14th. Finally, DA Davidson reiterated a “buy” rating and issued a $18.00 target price on shares of Tutor Perini in a report on Monday, August 12th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $21.83.
The firm’s fifty day simple moving average is $10.91 and its 200 day simple moving average is $15.21. The company has a market capitalization of $549.04 million, a price-to-earnings ratio of 6.32 and a beta of 1.92. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.03 and a quick ratio of 2.03.
Tutor Perini (NYSE:TPC) last released its quarterly earnings results on Thursday, August 8th. The construction company reported $0.18 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.42 by ($0.24). The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.18 billion. Tutor Perini had a negative net margin of 5.70% and a positive return on equity of 4.66%. The firm’s revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.49 EPS. Equities research analysts forecast that Tutor Perini Corp will post 1.61 earnings per share for the current fiscal year.
In related news, CEO Ronald N. Tutor sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $13.31, for a total transaction of $665,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 24.30% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of TPC. Pinnacle Associates Ltd. grew its stake in Tutor Perini by 4.0% in the second quarter. Pinnacle Associates Ltd. now owns 591,879 shares of the construction company’s stock valued at $8,209,000 after purchasing an additional 22,719 shares in the last quarter. State Board of Administration of Florida Retirement System increased its holdings in Tutor Perini by 8.7% in the first quarter. State Board of Administration of Florida Retirement System now owns 27,807 shares of the construction company’s stock worth $476,000 after buying an additional 2,230 shares during the last quarter. Lesa Sroufe & Co bought a new position in Tutor Perini during the second quarter valued at approximately $1,728,000. Virginia Retirement Systems ET AL bought a new position in Tutor Perini during the second quarter valued at approximately $664,000. Finally, Westside Investment Management Inc. acquired a new stake in Tutor Perini in the second quarter valued at approximately $2,055,000. 92.33% of the stock is currently owned by institutional investors and hedge funds.
About Tutor Perini (NYSE:TPC)
Tutor Perini Corporation, a construction company, provides diversified general contracting, construction management, and design-build services to private customers and public agencies worldwide. The company operates through three segments: Civil, Building, and Specialty Contractors. The Civil segment engages in the public works construction, replacement, and reconstruction of infrastructure, including highways, bridges, tunnels, mass-transit systems, and water management and wastewater treatment facilities.
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