Tutor Perini (NYSE:TPC) Raised to “Buy” at StockNews.com

Tutor Perini (NYSE:TPC) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Friday.

Tutor Perini Price Performance

Shares of TPC stock traded up $3.88 on Friday, reaching $17.77. The company had a trading volume of 1,548,915 shares, compared to its average volume of 358,678. The business’s 50-day moving average is $12.91 and its 200 day moving average is $9.91. The stock has a market capitalization of $929.02 million, a PE ratio of -5.40 and a beta of 1.62. Tutor Perini has a one year low of $4.90 and a one year high of $17.95. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.61.

Tutor Perini (NYSE:TPC) last announced its quarterly earnings data on Wednesday, February 28th. The construction company reported ($0.91) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.98). The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $951.50 million. Tutor Perini had a negative return on equity of 12.73% and a negative net margin of 4.41%. Equities research analysts forecast that Tutor Perini will post 0.92 EPS for the current fiscal year.

Insider Buying and Selling at Tutor Perini

In other Tutor Perini news, President Gary G. Smalley sold 27,958 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $12.86, for a total transaction of $359,539.88. Following the completion of the sale, the president now directly owns 112,245 shares in the company, valued at approximately $1,443,470.70. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, President Gary G. Smalley sold 20,303 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $12.40, for a total value of $251,757.20. Following the transaction, the president now owns 160,507 shares in the company, valued at $1,990,286.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Gary G. Smalley sold 27,958 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $12.86, for a total value of $359,539.88. Following the sale, the president now directly owns 112,245 shares of the company’s stock, valued at approximately $1,443,470.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 64,201 shares of company stock valued at $822,980. 19.50% of the stock is currently owned by company insiders.

Institutional Trading of Tutor Perini

Several institutional investors and hedge funds have recently made changes to their positions in the company. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new position in Tutor Perini in the fourth quarter valued at $6,467,000. Donald Smith & CO. Inc. boosted its position in shares of Tutor Perini by 20.4% during the fourth quarter. Donald Smith & CO. Inc. now owns 3,899,899 shares of the construction company’s stock worth $35,489,000 after buying an additional 659,657 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in Tutor Perini by 9.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,697,413 shares of the construction company’s stock worth $13,291,000 after purchasing an additional 146,033 shares in the last quarter. Brandywine Global Investment Management LLC raised its stake in Tutor Perini by 690.1% during the 3rd quarter. Brandywine Global Investment Management LLC now owns 157,778 shares of the construction company’s stock valued at $1,235,000 after purchasing an additional 137,808 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in Tutor Perini by 262.2% in the first quarter. Assenagon Asset Management S.A. now owns 184,461 shares of the construction company’s stock worth $2,667,000 after purchasing an additional 133,534 shares in the last quarter. 65.01% of the stock is 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.