Tutor Perini (NYSE:TPC) Trading Down 32% – Here’s What Happened

Tutor Perini Co. (NYSE:TPC) traded down 32% during trading on Monday . The stock traded as low as $27.60 and last traded at $19.99. 643,391 shares changed hands during mid-day trading, an increase of 1% from the average session volume of 638,171 shares. The stock had previously closed at $29.39.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on TPC. StockNews.com lowered shares of Tutor Perini from a “buy” rating to a “hold” rating in a report on Tuesday, January 28th. 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 research note on Thursday, November 7th. Finally, Vertical Research initiated coverage on shares of Tutor Perini in a research note on Tuesday, December 10th. They issued a “buy” rating and a $38.00 target price on the stock.

Tutor Perini Price Performance

The stock has a market cap of $1.47 billion, a PE ratio of -11.17 and a beta of 1.52. The stock’s fifty day moving average is $24.01 and its 200-day moving average is $25.35. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.55 and a quick ratio of 1.55.

Tutor Perini (NYSE:TPC) last posted its quarterly earnings results on Thursday, February 27th. The construction company reported ($1.51) earnings per share for the quarter, missing the consensus estimate of $0.29 by ($1.80). Tutor Perini had a negative net margin of 3.08% and a negative return on equity of 9.56%. The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same period last year, the company earned ($0.91) EPS.

Hedge Funds Weigh In On Tutor Perini

Several large investors have recently modified their holdings of TPC. Commonwealth Equity Services LLC raised its holdings in Tutor Perini by 7.3% in the 4th quarter. Commonwealth Equity Services LLC now owns 10,291 shares of the construction company’s stock valued at $249,000 after buying an additional 700 shares during the period. Sterling Capital Management LLC increased its position in shares of Tutor Perini by 7.0% during the fourth quarter. Sterling Capital Management LLC now owns 18,836 shares of the construction company’s stock valued at $456,000 after acquiring an additional 1,235 shares during the last quarter. Gotham Asset Management LLC raised its stake in shares of Tutor Perini by 4.3% in the 4th quarter. Gotham Asset Management LLC now owns 38,684 shares of the construction company’s stock valued at $936,000 after acquiring an additional 1,609 shares during the period. EP Wealth Advisors LLC lifted its holdings in shares of Tutor Perini by 19.5% in the 4th quarter. EP Wealth Advisors LLC now owns 10,294 shares of the construction company’s stock worth $249,000 after acquiring an additional 1,680 shares during the last quarter. Finally, State of Wyoming lifted its holdings in shares of Tutor Perini by 39.7% in the 4th quarter. State of Wyoming now owns 6,212 shares of the construction company’s stock worth $150,000 after acquiring an additional 1,764 shares during the last quarter. Institutional investors and hedge funds own 65.01% of the company’s stock.

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.