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

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 Friday.

Several other brokerages also recently commented on TPC. B. Riley reissued a "buy" rating and issued a $50.00 price objective (up from $40.00) on shares of Tutor Perini in a research note on Friday, June 6th. UBS Group increased 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 1.5%

Shares of TPC stock traded down $0.78 during mid-day trading on Friday, reaching $50.11. 723,613 shares of the stock traded hands, compared to its average volume of 570,220. The stock's fifty day simple moving average is $41.17 and its two-hundred day simple moving average is $29.62. The company has a market cap of $2.64 billion, a price-to-earnings ratio of -17.40 and a beta of 1.79. Tutor Perini has a 1-year low of $14.50 and a 1-year high of $51.98. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.33.

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

Insider Buying and Selling at Tutor Perini

In other news, Chairman Ronald N. Tutor sold 130,478 shares of Tutor Perini stock in a transaction dated 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 sale, the chairman owned 4,570,985 shares of the company's stock, valued at approximately $187,090,416.05. The trade was a 2.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Raymond R. Oneglia sold 25,000 shares of the firm's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $36.14, for a total transaction of $903,500.00. Following the completion of the sale, the director owned 90,470 shares of the company's stock, valued at $3,269,585.80. This trade represents a 21.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 410,000 shares of company stock valued at $15,891,651 over the last three months. 17.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Commonwealth Equity Services LLC increased its holdings in shares of Tutor Perini by 7.3% in the 4th quarter. Commonwealth Equity Services LLC now owns 10,291 shares of the construction company's stock worth $249,000 after purchasing an additional 700 shares in the last quarter. Boston Partners boosted its holdings in shares of Tutor Perini by 1,801.4% in the fourth quarter. Boston Partners now owns 605,450 shares of the construction company's stock worth $14,666,000 after buying an additional 573,608 shares during the last quarter. Quantbot Technologies LP grew its position in shares of Tutor Perini by 79.3% during the 4th quarter. Quantbot Technologies LP now owns 36,938 shares of the construction company's stock valued at $894,000 after acquiring an additional 16,341 shares during the period. KLP Kapitalforvaltning AS bought a new stake in Tutor Perini during the fourth quarter valued at about $232,000. Finally, LPL Financial LLC grew its stake in shares of Tutor Perini by 139.3% during the 4th quarter. LPL Financial LLC now owns 44,984 shares of the construction company's stock valued at $1,089,000 after acquiring an additional 26,186 shares during the period. 65.01% of the stock is owned by hedge funds and other institutional investors.

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.