Tutor Perini (NYSE:TPC) Trading Down 3.1% - Should You Sell?

Tutor Perini Co. (NYSE:TPC - Get Free Report) shares were down 3.1% during mid-day trading on Tuesday . The stock traded as low as $24.17 and last traded at $24.25. Approximately 71,900 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 446,133 shares. The stock had previously closed at $25.03.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on TPC. Vertical Research started coverage on Tutor Perini in a report on Tuesday, December 10th. They issued a "buy" rating and a $38.00 price target for the company. StockNews.com raised shares of Tutor Perini from a "hold" rating to a "buy" rating in a report on Monday, December 16th. UBS Group lifted their price target on shares of Tutor Perini from $27.00 to $39.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Finally, B. Riley raised their target price on shares of Tutor Perini from $38.00 to $40.00 and gave the stock a "buy" rating in a report on Thursday, November 7th.

Tutor Perini Price Performance

The company has a market cap of $1.28 billion, a price-to-earnings ratio of -9.70 and a beta of 1.49. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.53. The business has a 50-day moving average price of $27.56 and a 200 day moving average price of $24.59.

Tutor Perini (NYSE:TPC - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The construction company reported ($1.92) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.89) by ($0.03). The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.17 billion. Tutor Perini had a negative return on equity of 9.56% and a negative net margin of 3.08%. Tutor Perini's quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.71) EPS. As a group, research analysts expect 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 50,000 shares of the company's stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $28.68, for a total value of $1,434,000.00. Following the completion of the sale, the director now directly owns 250,000 shares in the company, valued at approximately $7,170,000. This represents a 16.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Ronald N. Tutor sold 125,000 shares of the company's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $30.72, for a total value of $3,840,000.00. Following the sale, the chief executive officer now owns 3,257,313 shares of the company's stock, valued at approximately $100,064,655.36. This trade represents a 3.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 325,000 shares of company stock worth $9,686,000 in the last quarter. 19.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Tutor Perini

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its position in Tutor Perini by 9.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,399,544 shares of the construction company's stock worth $52,263,000 after purchasing an additional 198,348 shares during the last quarter. Geode Capital Management LLC grew its position in Tutor Perini by 3.9% during the third quarter. Geode Capital Management LLC now owns 1,023,198 shares of the construction company's stock worth $27,795,000 after buying an additional 38,458 shares in the last quarter. State Street Corp increased its stake in Tutor Perini by 2.0% during the third quarter. State Street Corp now owns 975,082 shares of the construction company's stock valued at $26,483,000 after acquiring an additional 19,518 shares during the period. Jacobs Levy Equity Management Inc. raised its holdings in Tutor Perini by 129.4% in the 3rd 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 in the last quarter. Finally, American Century Companies Inc. lifted its position in shares of Tutor Perini by 59.9% in the 2nd quarter. American Century Companies Inc. now owns 759,665 shares of the construction company's stock worth $16,546,000 after acquiring an additional 284,627 shares during the period. 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.