Tutor Perini (NYSE:TPC) Downgraded by Wall Street Zen to Buy

Key Points

• Tutor Perini was downgraded by Wall Street Zen from a "strong-buy" to a "buy" rating, indicating a shift in analyst sentiment.
• UBS Group raised its price target for Tutor Perini shares from $41.00 to $59.00, maintaining a "buy" rating.
• Shares of Tutor Perini experienced a **5.1% decrease**, with a current market capitalization of **$2.41 billion** and a negative net margin of **3.35%**.

Tutor Perini (NYSE:TPC - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research report issued on Sunday.

A number of other research firms have also recently weighed in on TPC. UBS Group increased their price objective on shares of Tutor Perini from $41.00 to $59.00 and gave the stock a "buy" rating in a research report on Thursday, July 10th. B. Riley reaffirmed a "buy" rating and set a $50.00 price objective (up previously from $40.00) on shares of Tutor Perini in a research report on Friday, June 6th.

Tutor Perini Stock Down 5.1%

Shares of NYSE TPC opened at $45.71 on Friday. The company has a 50 day simple moving average of $43.62 and a 200-day simple moving average of $31.25. The company has a market capitalization of $2.41 billion, a P/E ratio of -15.87 and a beta of 1.83. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 1.33. Tutor Perini has a 1 year low of $14.50 and a 1 year high of $51.98.

Tutor Perini (NYSE:TPC - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The construction company reported $0.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.06 by $0.47. The business had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.08 billion. Tutor Perini had a negative net margin of 3.35% and a negative return on equity of 11.64%. The business's revenue was up 18.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.30 EPS.

Insider Activity at Tutor Perini

In other Tutor Perini news, Director Raymond R. Oneglia sold 75,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $36.23, for a total value of $2,717,250.00. Following the completion of the transaction, the director owned 115,470 shares of the company's stock, valued at $4,183,478.10. This trade represents a 39.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Ronald N. Tutor sold 130,478 shares of the firm's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $40.93, for a total transaction of $5,340,464.54. Following the completion of the transaction, the chairman directly owned 4,570,985 shares of the company's stock, valued at $187,090,416.05. This represents a 2.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 410,000 shares of company stock valued at $15,891,651 in the last three months. 17.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tutor Perini

A number of hedge funds and other institutional investors have recently modified their holdings of TPC. Donald Smith & CO. Inc. raised its holdings in shares of Tutor Perini by 16.8% in the 1st quarter. Donald Smith & CO. Inc. now owns 4,031,220 shares of the construction company's stock valued at $93,444,000 after purchasing an additional 580,963 shares in the last quarter. Pacer Advisors Inc. acquired a new stake in Tutor Perini during the 1st quarter worth $13,122,000. Fred Alger Management LLC raised its stake in Tutor Perini by 91.9% during the 4th quarter. Fred Alger Management LLC now owns 1,133,014 shares of the construction company's stock worth $27,419,000 after acquiring an additional 542,647 shares in the last quarter. Amanah Holdings Trust acquired a new stake in Tutor Perini during the 2nd quarter worth $19,163,000. Finally, First Trust Advisors LP raised its stake in Tutor Perini by 74.6% during the 4th quarter. First Trust Advisors LP now owns 938,478 shares of the construction company's stock worth $22,711,000 after acquiring an additional 401,117 shares in the last quarter. 65.01% of the stock is currently 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.

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