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

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

Analyst Ratings Changes

Several equities analysts have recently issued reports on TPC shares. B. Riley upped their price target on shares of 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 started coverage on shares of Tutor Perini in a research report on Tuesday, December 10th. They set a “buy” rating and a $38.00 price target for the company. UBS Group upped their price objective on Tutor Perini from $27.00 to $39.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, StockNews.com upgraded Tutor Perini from a “hold” rating to a “buy” rating in a research note on Friday, January 3rd.

Tutor Perini Stock Down 2.5 %

The firm has a market capitalization of $1.36 billion, a P/E 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 company’s 50-day simple moving average is $25.93 and its two-hundred day simple moving average is $25.12.

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

Insider Transactions at Tutor Perini

In related news, Director Raymond R. Oneglia sold 100,000 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $28.73, for a total transaction of $2,873,000.00. Following the transaction, the director now directly owns 400,000 shares in the company, valued at approximately $11,492,000. This represents a 20.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Ronald N. Tutor sold 50,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $30.78, for a total transaction of $1,539,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,362,267 shares of the company’s stock, valued at approximately $72,710,578.26. The trade was a 2.07 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 325,000 shares of company stock valued at $9,686,000. 19.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tutor Perini

A number of institutional investors and hedge funds have recently modified their holdings of the business. Barclays PLC lifted its position in shares of Tutor Perini by 298.0% during the third quarter. Barclays PLC now owns 69,875 shares of the construction company’s stock worth $1,898,000 after purchasing an additional 52,319 shares during the last quarter. Foundry Partners LLC boosted its position in Tutor Perini by 18.2% in the 3rd quarter. Foundry Partners LLC now owns 216,915 shares of the construction company’s stock valued at $5,891,000 after buying an additional 33,440 shares during the period. JPMorgan Chase & Co. grew its stake in Tutor Perini by 611.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 536,384 shares of the construction company’s stock worth $14,568,000 after acquiring an additional 460,945 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Tutor Perini by 3.9% during the third quarter. Geode Capital Management LLC now owns 1,023,198 shares of the construction company’s stock worth $27,795,000 after acquiring an additional 38,458 shares during the period. Finally, Empowered Funds LLC raised its stake in shares of Tutor Perini by 13.9% during the third quarter. Empowered Funds LLC now owns 268,521 shares of the construction company’s stock valued at $7,293,000 after acquiring an additional 32,676 shares in the last quarter. 65.01% of the stock is owned by institutional investors.

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.