Tutor Perini (NYSE:TPC) Stock Price Up 7% – What’s Next?

Shares of Tutor Perini Co. (NYSE:TPC) traded up 7% during mid-day trading on Monday . The stock traded as high as $29.78 and last traded at $29.68. 371,182 shares traded hands during trading, a decline of 18% from the average session volume of 450,747 shares. The stock had previously closed at $27.73.

Analyst Ratings Changes

A number of brokerages have recently commented on TPC. StockNews.com cut Tutor Perini from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. B. Riley upped 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. Finally, UBS Group increased their target price on shares of Tutor Perini from $27.00 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd.

Tutor Perini Stock Performance

The business has a 50 day moving average of $27.00 and a 200-day moving average of $23.47. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.55 and a current ratio of 1.55.

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

Insider Activity

In related news, CEO Ronald N. Tutor sold 125,000 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 3,257,313 shares of the company’s stock, valued at $100,064,655.36. This trade represents a 3.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 19.50% of the company’s stock.

Institutional Trading of Tutor Perini

A number of hedge funds have recently made changes to their positions in TPC. CWM LLC grew its holdings in shares of Tutor Perini by 142.8% in the second quarter. CWM LLC now owns 1,714 shares of the construction company’s stock worth $37,000 after purchasing an additional 1,008 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Tutor Perini in the 2nd quarter worth about $51,000. Plato Investment Management Ltd bought a new position in shares of Tutor Perini during the third quarter valued at approximately $52,000. nVerses Capital LLC purchased a new position in Tutor Perini during the second quarter valued at $63,000. Finally, EntryPoint Capital LLC purchased a new stake in Tutor Perini during the 1st quarter valued at about $77,000. 65.01% of the stock is owned by institutional investors.

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.