Tutor Perini (NYSE:TPC) Trading Up 7% – Here’s What Happened

Tutor Perini Co. (NYSE:TPC) traded up 7% during mid-day trading on Monday . The company traded as high as $29.78 and last traded at $29.68. 371,182 shares changed hands during trading, a decline of 18% from the average session volume of 450,747 shares. The stock had previously closed at $27.73.

Wall Street Analyst Weigh In

Several analysts have recently commented on TPC shares. StockNews.com lowered shares of Tutor Perini from a “buy” rating to a “hold” rating in a research report on Friday. B. Riley upped their price target on Tutor Perini from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, UBS Group increased their price target on Tutor Perini from $27.00 to $39.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd.

Tutor Perini Trading Up 7.1 %

The business’s 50 day moving average price is $26.70 and its 200-day moving average price is $23.31. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.53.

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

Insider Buying and Selling

In other news, CEO Ronald N. Tutor sold 50,000 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $30.78, for a total value of $1,539,000.00. Following the sale, the chief executive officer now directly owns 2,362,267 shares in the company, valued at approximately $72,710,578.26. This trade represents a 2.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 19.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tutor Perini

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. CWM LLC lifted its stake in Tutor Perini by 142.8% in the second quarter. CWM LLC now owns 1,714 shares of the construction company’s stock worth $37,000 after acquiring an additional 1,008 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Tutor Perini during the 2nd quarter worth $51,000. Plato Investment Management Ltd acquired a new position in shares of Tutor Perini during the third quarter worth $52,000. nVerses Capital LLC purchased a new position in Tutor Perini in the second quarter valued at $63,000. Finally, EntryPoint Capital LLC acquired a new stake in Tutor Perini in the first quarter valued at $77,000. Hedge funds and other institutional investors own 65.01% of the company’s stock.

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.