Tutor Perini (NYSE:TPC) Shares Down 4.6% - Here's What Happened

Tutor Perini Co. (NYSE:TPC - Get Free Report)'s share price traded down 4.6% on Tuesday . The company traded as low as $19.75 and last traded at $18.89. 424,054 shares changed hands during mid-day trading, a decline of 20% from the average session volume of 530,545 shares. The stock had previously closed at $19.79.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on TPC shares. StockNews.com lowered Tutor Perini from a "buy" rating to a "hold" rating in a research note on Tuesday, January 28th. B. Riley raised Tutor Perini to a "strong-buy" rating in a research note on Tuesday, March 18th.

Tutor Perini Trading Down 0.6 %

The stock has a market capitalization of $1.11 billion, a PE ratio of -7.60 and a beta of 1.47. The company's 50 day moving average price is $23.21 and its two-hundred day moving average price is $25.07. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.55 and a quick ratio of 1.55.

Tutor Perini (NYSE:TPC - Get Free Report) last released its earnings results on Thursday, February 27th. The construction company reported ($1.51) earnings per share for the quarter, missing analysts' consensus estimates of $0.29 by ($1.80). The business had revenue of $1.07 billion during the quarter, compared to analysts' expectations of $1.08 billion. Tutor Perini had a negative return on equity of 9.56% and a negative net margin of 3.08%. During the same period last year, the business earned ($0.91) earnings per share.

Institutional Trading of Tutor Perini

Several large investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its position in shares of Tutor Perini by 32.5% during the 1st quarter. GAMMA Investing LLC now owns 2,080 shares of the construction company's stock valued at $48,000 after acquiring an additional 510 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings in Tutor Perini by 7.3% in the 4th quarter. Commonwealth Equity Services LLC now owns 10,291 shares of the construction company's stock valued at $249,000 after purchasing an additional 700 shares during the last quarter. Sterling Capital Management LLC grew its stake 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 valued at $456,000 after buying an additional 1,235 shares during the period. Gotham Asset Management LLC grew its stake 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 valued at $936,000 after buying an additional 1,609 shares during the period. Finally, EP Wealth Advisors LLC raised its position in shares of Tutor Perini by 19.5% during the 4th quarter. EP Wealth Advisors LLC now owns 10,294 shares of the construction company's stock valued at $249,000 after buying an additional 1,680 shares during the period. 65.01% of the stock is currently 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.