Tutor Perini (NYSE:TPC) Stock Price Down 20.4% – What’s Next?

Tutor Perini Co. (NYSE:TPC) shares fell 20.4% during mid-day trading on Friday . The company traded as low as $25.23 and last traded at $19.57. 283,919 shares changed hands during trading, a decline of 32% from the average session volume of 419,539 shares. The stock had previously closed at $24.57.

Analyst Ratings Changes

Several research firms recently commented on TPC. StockNews.com raised shares of Tutor Perini from a “hold” rating to a “buy” rating in a research note on Friday, January 3rd. Vertical Research assumed coverage on shares of Tutor Perini in a research report on Tuesday, December 10th. They set a “buy” rating and a $38.00 target price on the stock. UBS Group boosted their price target on Tutor Perini from $27.00 to $39.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, B. Riley raised their price objective on Tutor Perini from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, November 7th.

Tutor Perini Trading Up 3.5 %

The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.53. The business’s 50-day simple moving average is $26.14 and its 200 day simple moving average is $24.97.

Tutor Perini (NYSE:TPC) last issued its quarterly earnings data 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). The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Tutor Perini had a negative net margin of 3.08% and a negative return on equity of 9.56%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.71) earnings per share. On average, equities research analysts expect that Tutor Perini Co. will post -1.47 EPS for the current year.

Insider Buying and Selling

In other news, Director Raymond R. Oneglia sold 100,000 shares of Tutor Perini stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $28.73, for a total value of $2,873,000.00. Following the transaction, the director now owns 400,000 shares of the company’s stock, valued at $11,492,000. The trade was a 20.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ronald N. Tutor sold 50,000 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $30.78, for a total transaction of $1,539,000.00. Following the sale, the chief executive officer now directly owns 2,362,267 shares of the company’s stock, valued at $72,710,578.26. The trade was a 2.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 325,000 shares of company stock worth $9,686,000 in the last three months. 19.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Tutor Perini

A number of large investors have recently made changes to their positions in the business. Rhumbline Advisers grew its stake in Tutor Perini by 3.1% during the 2nd quarter. Rhumbline Advisers now owns 84,385 shares of the construction company’s stock worth $1,838,000 after buying an additional 2,534 shares during the last quarter. American Century Companies Inc. boosted its holdings in Tutor Perini by 59.9% in the second quarter. American Century Companies Inc. now owns 759,665 shares of the construction company’s stock worth $16,546,000 after acquiring an additional 284,627 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Tutor Perini by 9.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,399,544 shares of the construction company’s stock worth $52,263,000 after acquiring an additional 198,348 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Tutor Perini by 20.3% during the second quarter. Renaissance Technologies LLC now owns 515,380 shares of the construction company’s stock valued at $11,225,000 after acquiring an additional 86,800 shares in the last quarter. Finally, Hsbc Holdings PLC raised its position in shares of Tutor Perini by 77.7% in the 2nd 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 during the last quarter. 65.01% of the stock is owned by institutional investors and hedge funds.

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.