Tutor Perini (NYSE:TPC) Upgraded at StockNews.com

Tutor Perini (NYSE:TPC) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.

Tutor Perini Trading Up 27.9 %

TPC stock traded up $3.88 during mid-day trading on Friday, reaching $17.77. The company’s stock had a trading volume of 1,548,915 shares, compared to its average volume of 358,678. The company has a market cap of $929.02 million, a price-to-earnings ratio of -5.40 and a beta of 1.62. Tutor Perini has a 12 month low of $4.90 and a 12 month high of $17.95. The business’s 50 day moving average price is $12.91 and its 200 day moving average price is $9.91. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.61.

Tutor Perini (NYSE:TPC) last issued its quarterly earnings results on Wednesday, February 28th. The construction company reported ($0.91) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.98). Tutor Perini had a negative net margin of 4.41% and a negative return on equity of 12.73%. The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $951.50 million. On average, equities research analysts predict that Tutor Perini will post 0.92 EPS for the current year.

Insider Buying and Selling at Tutor Perini

In related news, President Gary G. Smalley sold 15,940 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $13.28, for a total value of $211,683.20. Following the completion of the transaction, the president now owns 68,346 shares in the company, valued at approximately $907,634.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, President Gary G. Smalley sold 27,958 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $12.86, for a total transaction of $359,539.88. Following the transaction, the president now directly owns 112,245 shares in the company, valued at approximately $1,443,470.70. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, President Gary G. Smalley sold 15,940 shares of Tutor Perini stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $13.28, for a total transaction of $211,683.20. Following the sale, the president now directly owns 68,346 shares in the company, valued at approximately $907,634.88. The disclosure for this sale can be found here. Insiders have sold a total of 64,201 shares of company stock worth $822,980 over the last ninety days. Company insiders own 19.50% of the company’s stock.

Hedge Funds Weigh In On Tutor Perini

A number of institutional investors and hedge funds have recently modified their holdings of the company. Donald Smith & CO. Inc. increased its holdings in Tutor Perini by 20.4% in the fourth quarter. Donald Smith & CO. Inc. now owns 3,899,899 shares of the construction company’s stock valued at $35,489,000 after buying an additional 659,657 shares in the last quarter. Vanguard Group Inc. grew its stake in Tutor Perini by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 2,247,947 shares of the construction company’s stock worth $17,601,000 after acquiring an additional 38,910 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Tutor Perini by 2.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,085,769 shares of the construction company’s stock valued at $18,981,000 after buying an additional 55,823 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Tutor Perini by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,992,319 shares of the construction company’s stock valued at $18,130,000 after buying an additional 53,927 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Tutor Perini by 9.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,697,413 shares of the construction company’s stock valued at $13,291,000 after acquiring an additional 146,033 shares in the last quarter. 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.