Tutor Perini (TPC) Sets New 1-Year Low at $18.00

Tutor Perini Corp (NYSE:TPC)’s share price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $18.00 and last traded at $17.95, with a volume of 8949 shares. The stock had previously closed at $18.45.

Several research firms have weighed in on TPC. DA Davidson set a $38.00 price target on Tutor Perini and gave the stock a “buy” rating in a research report on Monday, April 23rd. Alembic Global Advisors reissued a “buy” rating on shares of Tutor Perini in a research report on Monday, March 5th. Zacks Investment Research downgraded Tutor Perini from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 6th. Finally, ValuEngine downgraded Tutor Perini from a “buy” rating to a “hold” rating in a research report on Tuesday, March 20th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $31.00.

The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $918.64 million, a price-to-earnings ratio of 12.71, a price-to-earnings-growth ratio of 0.81 and a beta of 2.05.

Tutor Perini (NYSE:TPC) last released its quarterly earnings results on Wednesday, May 9th. The construction company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.22). The company had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Tutor Perini had a return on equity of 4.95% and a net margin of 2.62%. The business’s quarterly revenue was down 8.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.27 EPS. analysts anticipate that Tutor Perini Corp will post 2.28 earnings per share for the current fiscal year.

In other news, CEO Ronald N. Tutor sold 50,000 shares of Tutor Perini stock in a transaction on Monday, June 11th. The stock was sold at an average price of $19.83, for a total value of $991,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 24.70% of the stock is owned by insiders.

Large investors have recently made changes to their positions in the company. Xact Kapitalforvaltning AB purchased a new stake in shares of Tutor Perini in the first quarter valued at $210,000. Global X Management Co. LLC grew its position in shares of Tutor Perini by 323.9% in the first quarter. Global X Management Co. LLC now owns 11,128 shares of the construction company’s stock valued at $245,000 after purchasing an additional 8,503 shares during the period. Victory Capital Management Inc. grew its position in shares of Tutor Perini by 65.9% in the first quarter. Victory Capital Management Inc. now owns 12,223 shares of the construction company’s stock valued at $270,000 after purchasing an additional 4,856 shares during the period. Aperio Group LLC grew its position in shares of Tutor Perini by 21.3% in the fourth quarter. Aperio Group LLC now owns 12,019 shares of the construction company’s stock valued at $305,000 after purchasing an additional 2,108 shares during the period. Finally, Guggenheim Capital LLC purchased a new stake in shares of Tutor Perini in the fourth quarter valued at $323,000. 90.21% of the stock is owned by institutional investors and hedge funds.

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 worldwide. The company operates through three segments: Civil, Building, and Specialty Contractors. The Civil segment engages in the public works construction, replacement, and reconstruction of infrastructure, including highways, bridges, tunnels, mass-transit systems, and water management and wastewater treatment facilities.

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