Tutor Perini (NYSE:TPC) Shares Up 5.9% - Here's What Happened

Tutor Perini Co. (NYSE:TPC - Get Free Report) shares rose 5.9% during mid-day trading on Thursday . The company traded as high as $24.72 and last traded at $24.50. Approximately 121,244 shares traded hands during trading, a decline of 79% from the average daily volume of 585,172 shares. The stock had previously closed at $23.14.

Wall Street Analyst Weigh In

TPC has been the topic of a number of research reports. Vertical Research initiated coverage on shares of Tutor Perini in a research report on Tuesday, December 10th. They set a "buy" rating and a $38.00 target price on the stock. B. Riley increased their price target on Tutor Perini from $38.00 to $40.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Finally, StockNews.com downgraded Tutor Perini from a "buy" rating to a "hold" rating in a report on Tuesday, January 28th.

Tutor Perini Trading Down 16.3 %

The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.53. The company has a fifty day moving average of $24.15 and a two-hundred day moving average of $25.05. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of -7.77 and a beta of 1.52.

Institutional Investors Weigh In On Tutor Perini

Hedge funds and other institutional investors have recently bought and sold shares of the business. Commonwealth Equity Services LLC increased its position in shares of Tutor Perini by 7.3% in the fourth quarter. Commonwealth Equity Services LLC now owns 10,291 shares of the construction company's stock valued at $249,000 after buying an additional 700 shares in the last quarter. CWM LLC boosted its position in shares of Tutor Perini by 53.0% in the 3rd quarter. CWM LLC now owns 2,622 shares of the construction company's stock worth $71,000 after buying an additional 908 shares in the last quarter. Sterling Capital Management LLC boosted its position in shares of Tutor Perini by 7.0% in the 4th quarter. Sterling Capital Management LLC now owns 18,836 shares of the construction company's stock worth $456,000 after buying an additional 1,235 shares in the last quarter. Gotham Asset Management LLC boosted its position in shares of Tutor Perini by 4.3% in the 4th quarter. Gotham Asset Management LLC now owns 38,684 shares of the construction company's stock worth $936,000 after buying an additional 1,609 shares in the last quarter. Finally, EP Wealth Advisors LLC boosted its position in shares of Tutor Perini by 19.5% in the 4th quarter. EP Wealth Advisors LLC now owns 10,294 shares of the construction company's stock worth $249,000 after buying an additional 1,680 shares in the last quarter. Institutional investors and hedge funds own 65.01% of the company's stock.

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.