Tutor Perini (NYSE:TPC) Trading Down 19.2% - What's Next?

Shares of Tutor Perini Co. (NYSE:TPC - Get Free Report) fell 19.2% during trading on Thursday . The stock traded as low as $24.00 and last traded at $19.62. 205,977 shares traded hands during mid-day trading, a decline of 66% from the average session volume of 611,812 shares. The stock had previously closed at $24.29.

Analysts Set New Price Targets

Several equities research analysts recently commented on TPC shares. B. Riley lifted their target price on shares of Tutor Perini from $38.00 to $40.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Vertical Research started coverage on Tutor Perini in a report on Tuesday, December 10th. They set a "buy" rating and a $38.00 price target on the stock. StockNews.com lowered Tutor Perini from a "buy" rating to a "hold" rating in a report on Tuesday, January 28th. Finally, UBS Group raised their price target on Tutor Perini from $27.00 to $39.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd.

Tutor Perini Stock Down 5.5 %

The company has a fifty day moving average of $25.24 and a two-hundred day moving average of $25.13. The company has a market cap of $1.19 billion, a PE ratio of -9.07 and a beta of 1.52. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.55 and a current ratio of 1.55.

Tutor Perini (NYSE:TPC - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The construction company reported ($1.92) EPS for the quarter, missing the consensus estimate of ($1.89) by ($0.03). The business had revenue of $1.08 billion for the quarter, compared to analysts' expectations of $1.17 billion. Tutor Perini had a negative net margin of 3.08% and a negative return on equity of 9.56%. The business's revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.71) EPS. As a group, analysts anticipate that Tutor Perini Co. will post -1.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Raymond R. Oneglia sold 100,000 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $28.73, for a total transaction of $2,873,000.00. Following the completion of the sale, the director now directly owns 400,000 shares of the company's stock, valued at $11,492,000. This trade represents a 20.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ronald N. Tutor sold 125,000 shares of Tutor Perini stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $30.72, for a total value of $3,840,000.00. Following the completion of the sale, the chief executive officer now directly owns 3,257,313 shares in the company, valued at $100,064,655.36. This represents a 3.70 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 325,000 shares of company stock valued at $9,686,000. Insiders own 19.50% of the company's stock.

Institutional Trading of Tutor Perini

Several large investors have recently bought and sold shares of the company. Fred Alger Management LLC purchased a new position in Tutor Perini in the third quarter valued at about $16,034,000. JPMorgan Chase & Co. boosted its stake in Tutor Perini by 611.0% during the third quarter. JPMorgan Chase & Co. now owns 536,384 shares of the construction company's stock worth $14,568,000 after buying an additional 460,945 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in Tutor Perini by 129.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 783,396 shares of the construction company's stock valued at $21,277,000 after acquiring an additional 441,858 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of Tutor Perini by 40,975.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 140,477 shares of the construction company's stock valued at $3,400,000 after purchasing an additional 140,135 shares during the period. Finally, Barclays PLC raised its stake in Tutor Perini by 298.0% during the third quarter. Barclays PLC now owns 69,875 shares of the construction company's stock worth $1,898,000 after acquiring an additional 52,319 shares in the last quarter. Institutional investors and hedge funds 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.