Tutor Perini (NYSE:TPC) Shares Down 3.1% – Time to Sell?

Tutor Perini Co. (NYSE:TPC) shares fell 3.1% on Tuesday . The stock traded as low as $24.17 and last traded at $24.25. 71,900 shares were traded during trading, a decline of 84% from the average session volume of 446,133 shares. The stock had previously closed at $25.03.

Analyst Ratings Changes

TPC has been the subject of several recent research reports. UBS Group boosted their target price on shares of Tutor Perini from $27.00 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Vertical Research assumed coverage on shares of Tutor Perini in a report on Tuesday, December 10th. They issued a “buy” rating and a $38.00 price objective for the company. StockNews.com upgraded Tutor Perini from a “hold” rating to a “buy” rating in a report on Monday, December 16th. Finally, B. Riley upped their price target on Tutor Perini from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th.

Tutor Perini Price Performance

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 stock’s fifty day simple moving average is $27.56 and its 200-day simple moving average is $24.59. The company has a market capitalization of $1.27 billion, a P/E ratio of -9.65 and a beta of 1.49.

Tutor Perini (NYSE:TPC) last issued its quarterly earnings results on Wednesday, November 6th. The construction company reported ($1.92) EPS for the quarter, missing the consensus estimate of ($1.89) by ($0.03). The business had revenue of $1.08 billion during 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%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.71) earnings per share. On average, equities analysts forecast that Tutor Perini Co. will post -1.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Raymond R. Oneglia sold 100,000 shares of the stock in a transaction 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 completion of the transaction, the director now 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 filing with the SEC, which can be accessed through the SEC website. Also, CEO Ronald N. Tutor sold 125,000 shares of Tutor Perini 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 sale, the chief executive officer now owns 3,257,313 shares in the company, valued at approximately $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 have sold 325,000 shares of company stock worth $9,686,000 in the last ninety days. Insiders own 19.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. USA Financial Formulas increased its position in shares of Tutor Perini by 19.6% during the 3rd quarter. USA Financial Formulas now owns 3,451 shares of the construction company’s stock worth $94,000 after purchasing an additional 566 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in Tutor Perini by 3.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,874 shares of the construction company’s stock valued at $368,000 after purchasing an additional 571 shares during the last quarter. CWM LLC boosted its stake in Tutor Perini by 53.0% in the third quarter. CWM LLC now owns 2,622 shares of the construction company’s stock worth $71,000 after purchasing an additional 908 shares in the last quarter. Plato Investment Management Ltd bought a new stake in shares of Tutor Perini during the third quarter worth $52,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of Tutor Perini in the second quarter valued at $51,000. Institutional investors 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.