Tutor Perini (NYSE:TPC) Cut to "Buy" at Wall Street Zen

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

A number of other equities research analysts have also weighed in on the stock. B. Riley reissued a "buy" rating and set a $50.00 target price (up from $40.00) on shares of Tutor Perini in a report on Friday, June 6th. UBS Group boosted their target price on shares of Tutor Perini from $41.00 to $59.00 and gave the company a "buy" rating in a research report on Thursday, July 10th.

Tutor Perini Trading Down 0.8%

NYSE:TPC traded down $0.37 during trading hours on Friday, hitting $48.60. The stock had a trading volume of 177,438 shares, compared to its average volume of 569,215. Tutor Perini has a one year low of $14.50 and a one year high of $51.98. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.33 and a current ratio of 1.33. The company has a market cap of $2.56 billion, a price-to-earnings ratio of -16.84 and a beta of 1.79. The business's 50 day moving average is $41.17 and its 200-day moving average is $29.66.

Tutor Perini (NYSE:TPC - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The construction company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.47. The company 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 firm's revenue was up 18.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.30 earnings per share.

Insider Activity at Tutor Perini

In other news, 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 value of $5,340,464.54. Following the transaction, the chairman owned 4,570,985 shares in the company, valued at approximately $187,090,416.05. This trade represents a 2.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Raymond R. Oneglia sold 75,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $36.23, for a total transaction of $2,717,250.00. Following the completion of the transaction, the director owned 115,470 shares in the company, valued at $4,183,478.10. This represents a 39.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 410,000 shares of company stock worth $15,891,651 over the last three months. Insiders own 17.30% of the company's stock.

Hedge Funds Weigh In On Tutor Perini

Several institutional investors have recently made changes to their positions in TPC. Commonwealth Equity Services LLC boosted its position in Tutor Perini by 7.3% during the fourth quarter. Commonwealth Equity Services LLC now owns 10,291 shares of the construction company's stock valued at $249,000 after purchasing an additional 700 shares in the last quarter. Boston Partners raised its position in Tutor Perini by 1,801.4% during the fourth quarter. Boston Partners now owns 605,450 shares of the construction company's stock valued at $14,666,000 after acquiring an additional 573,608 shares in the last quarter. Quantbot Technologies LP increased its position in shares of Tutor Perini by 79.3% in the fourth quarter. Quantbot Technologies LP now owns 36,938 shares of the construction company's stock valued at $894,000 after buying an additional 16,341 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Tutor Perini in the fourth quarter valued at approximately $232,000. Finally, LPL Financial LLC boosted its stake in shares of Tutor Perini by 139.3% in the fourth quarter. LPL Financial LLC now owns 44,984 shares of the construction company's stock worth $1,089,000 after acquiring an additional 26,186 shares during the last quarter. 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.