Tutor Perini (NYSE:TPC) Shares Down 28% – Here’s Why

Tutor Perini Co. (NYSE:TPC)’s stock price traded down 28% during mid-day trading on Thursday . The company traded as low as $26.58 and last traded at $19.55. 179,683 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 557,470 shares. The stock had previously closed at $27.16.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on TPC shares. B. Riley upped their price objective on Tutor Perini from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Vertical Research began coverage on shares of Tutor Perini in a research report on Tuesday, December 10th. They issued a “buy” rating and a $38.00 price objective on the stock. StockNews.com upgraded shares of Tutor Perini from a “hold” rating to a “buy” rating in a research note on Friday, January 3rd. Finally, UBS Group upped their price target on 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 Down 2.5 %

The stock has a market capitalization of $1.36 billion, a PE ratio of -10.36 and a beta of 1.54. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.55 and a quick ratio of 1.55. The business’s fifty day moving average price is $25.93 and its two-hundred day moving average price is $25.12.

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

Insider Transactions at Tutor Perini

In other Tutor Perini news, Director Raymond R. Oneglia sold 50,000 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $28.68, for a total value of $1,434,000.00. Following the transaction, the director now owns 250,000 shares in the company, valued at approximately $7,170,000. This trade represents a 16.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Ronald N. Tutor sold 125,000 shares of the stock in a transaction dated Monday, November 11th. The shares were 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 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 disclosure for this sale can be found here. Insiders sold a total of 325,000 shares of company stock valued at $9,686,000 in the last three months. 19.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tutor Perini

A number of large investors have recently made changes to their positions in TPC. Dimensional Fund Advisors LP boosted its holdings in Tutor Perini by 9.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,399,544 shares of the construction company’s stock valued at $52,263,000 after acquiring an additional 198,348 shares during the period. Hsbc Holdings PLC grew its holdings in shares of Tutor Perini by 77.7% in the second quarter. Hsbc Holdings PLC now owns 22,554 shares of the construction company’s stock valued at $493,000 after purchasing an additional 9,859 shares in the last quarter. Sei Investments Co. increased its stake in Tutor Perini by 124.2% during the 2nd quarter. Sei Investments Co. now owns 86,756 shares of the construction company’s stock worth $1,890,000 after buying an additional 48,052 shares during the period. Point72 DIFC Ltd acquired a new stake in Tutor Perini during the 2nd quarter worth approximately $158,000. Finally, Cubist Systematic Strategies LLC boosted its position in Tutor Perini by 147.3% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 196,460 shares of the construction company’s stock valued at $4,279,000 after buying an additional 117,004 shares during the period. 65.01% of the stock is currently owned by hedge funds and other 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.