Tutor Perini (NYSE:TPC) Shares Gap Up to $13.55

Tutor Perini Co. (NYSE:TPC - Get Free Report) shares gapped up before the market opened on Wednesday . The stock had previously closed at $13.55, but opened at $13.92. Tutor Perini shares last traded at $13.53, with a volume of 222,736 shares traded.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Tutor Perini from a "buy" rating to a "hold" rating in a report on Saturday, March 30th.

Tutor Perini Stock Down 0.9 %

The firm has a market cap of $702.12 million, a PE ratio of -4.08 and a beta of 1.62. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.61. The business has a 50-day moving average price of $12.17 and a two-hundred day moving average price of $9.60.

Tutor Perini (NYSE:TPC - Get Free Report) last posted its quarterly earnings results on Wednesday, February 28th. The construction company reported ($0.91) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.07 by ($0.98). The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $951.50 million. Tutor Perini had a negative net margin of 4.41% and a negative return on equity of 12.73%. On average, equities research analysts expect that Tutor Perini Co. will post 0.92 EPS for the current year.

Insiders Place Their Bets

In other news, President Gary G. Smalley sold 15,940 shares of the firm's stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $13.28, for a total value of $211,683.20. Following the sale, the president now directly owns 68,346 shares in the company, valued at approximately $907,634.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, President Gary G. Smalley sold 20,303 shares of the business'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 transaction of $251,757.20. Following the completion of the sale, 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 available through the SEC website. Also, President Gary G. Smalley sold 15,940 shares of the company's stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $13.28, for a total value of $211,683.20. Following the completion of the transaction, the president now directly owns 68,346 shares of the company's stock, valued at $907,634.88. The disclosure for this sale can be found here. Insiders sold 64,201 shares of company stock worth $822,980 in the last 90 days. Corporate insiders own 20.90% of the company's stock.

Institutional Trading of Tutor Perini

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Swiss National Bank raised its stake in Tutor Perini by 7.6% during the 1st quarter. Swiss National Bank now owns 108,700 shares of the construction company's stock worth $1,174,000 after acquiring an additional 7,700 shares in the last quarter. Raymond James & Associates acquired a new stake in shares of Tutor Perini during the first quarter worth about $142,000. American Century Companies Inc. lifted its holdings in shares of Tutor Perini by 33.8% in the 1st quarter. American Century Companies Inc. now owns 129,556 shares of the construction company's stock valued at $1,399,000 after purchasing an additional 32,707 shares during the last quarter. MetLife Investment Management LLC boosted its position in shares of Tutor Perini by 55.4% in the 1st quarter. MetLife Investment Management LLC now owns 22,604 shares of the construction company's stock valued at $244,000 after purchasing an additional 8,060 shares during the period. Finally, BlackRock Inc. grew its stake in Tutor Perini by 7.8% during the 1st quarter. BlackRock Inc. now owns 4,333,989 shares of the construction company's stock worth $46,806,000 after buying an additional 312,568 shares during the last quarter. Institutional investors and hedge funds 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.