Tutor Perini (NYSE:TPC) Shares Down 19% - Time to Sell?

Tutor Perini Co. (NYSE:TPC - Get Free Report)'s share price fell 19% during trading on Tuesday . The stock traded as low as $23.51 and last traded at $19.54. 103,940 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 639,403 shares. The stock had previously closed at $24.11.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on TPC shares. Vertical Research started 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 raised 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. UBS Group raised their target price on shares of Tutor Perini from $27.00 to $39.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. Finally, StockNews.com lowered shares of Tutor Perini from a "buy" rating to a "hold" rating in a research report on Tuesday, January 28th.

Tutor Perini Trading Up 1.7 %

The business's 50-day moving average is $24.54 and its two-hundred day moving average is $25.03. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.55 and a current ratio of 1.55. The stock has a market capitalization of $1.24 billion, a PE ratio of -9.43 and a beta of 1.52.

Insider Activity at Tutor Perini

In related news, Director Raymond R. Oneglia sold 50,000 shares of Tutor Perini 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 transaction, the director now directly owns 250,000 shares in the company, valued at $7,170,000. This trade represents a 16.67 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 19.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tutor Perini

A number of hedge funds and other institutional investors have recently bought and sold shares of TPC. Barclays PLC lifted its holdings in Tutor Perini by 298.0% in the third quarter. Barclays PLC now owns 69,875 shares of the construction company's stock valued at $1,898,000 after acquiring an additional 52,319 shares during the period. Foundry Partners LLC lifted its holdings in Tutor Perini by 18.2% in the third quarter. Foundry Partners LLC now owns 216,915 shares of the construction company's stock valued at $5,891,000 after acquiring an additional 33,440 shares during the period. JPMorgan Chase & Co. lifted its holdings in Tutor Perini by 611.0% in the third quarter. JPMorgan Chase & Co. now owns 536,384 shares of the construction company's stock valued at $14,568,000 after acquiring an additional 460,945 shares during the period. Geode Capital Management LLC lifted its holdings in Tutor Perini by 3.9% in the third quarter. Geode Capital Management LLC now owns 1,023,198 shares of the construction company's stock valued at $27,795,000 after acquiring an additional 38,458 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in Tutor Perini by 67.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 93,202 shares of the construction company's stock valued at $2,255,000 after acquiring an additional 37,478 shares during the period. 65.01% of the stock is currently owned by hedge funds and other institutional investors.

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.