Tutor Perini (NYSE:TPC) Shares Up 4.7%

Tutor Perini Co. (NYSE:TPC)’s stock price was up 4.7% during trading on Monday . The company traded as high as $18.46 and last traded at $18.17. Approximately 884,006 shares were traded during mid-day trading, an increase of 90% from the average daily volume of 464,888 shares. The stock had previously closed at $17.36.

Analyst Ratings Changes

TPC has been the topic of several recent research reports. UBS Group upgraded shares of Tutor Perini from a “neutral” rating to a “buy” rating and lifted their target price for the company from $14.00 to $27.00 in a research note on Friday, June 14th. StockNews.com upgraded shares of Tutor Perini from a “hold” rating to a “buy” rating in a report on Friday, April 26th.

Tutor Perini Stock Performance

The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.70 and a current ratio of 1.70. The company has a market cap of $950.52 million, a P/E ratio of -8.91 and a beta of 1.55. The firm has a 50 day moving average price of $22.07 and a 200-day moving average price of $16.59.

Tutor Perini (NYSE:TPC) last announced its quarterly earnings results on Thursday, August 1st. The construction company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.15). Tutor Perini had a negative net margin of 1.59% and a negative return on equity of 4.50%. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the business earned ($0.72) EPS. The company’s revenue for the quarter was up 10.4% on a year-over-year basis. On average, research analysts predict that Tutor Perini Co. will post 1.1 EPS for the current year.

Insider Buying and Selling

In related news, CEO Ronald N. Tutor sold 25,000 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $19.40, for a total transaction of $485,000.00. Following the completion of the sale, the chief executive officer now owns 2,387,267 shares in the company, valued at approximately $46,312,979.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Ronald N. Tutor sold 25,000 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $19.40, for a total transaction of $485,000.00. Following the transaction, the chief executive officer now owns 2,387,267 shares of the company’s stock, valued at $46,312,979.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ghassan Ariqat sold 11,855 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $19.62, for a total transaction of $232,595.10. The disclosure for this sale can be found here. Insiders have sold 243,728 shares of company stock worth $4,870,217 in the last quarter. 19.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tutor Perini

Several hedge funds have recently made changes to their positions in TPC. CWM LLC raised its holdings 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 acquiring an additional 1,008 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Tutor Perini during the second quarter valued at approximately $51,000. Rhumbline Advisers raised its stake in shares of Tutor Perini by 3.1% in the second quarter. Rhumbline Advisers now owns 84,385 shares of the construction company’s stock valued at $1,838,000 after purchasing an additional 2,534 shares in the last quarter. Sculati Wealth Management LLC lifted its position in Tutor Perini by 1.4% in the first quarter. Sculati Wealth Management LLC now owns 208,712 shares of the construction company’s stock worth $3,018,000 after purchasing an additional 2,811 shares during the period. Finally, nVerses Capital LLC acquired a new stake in Tutor Perini during the second quarter worth $63,000. 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.