Shares of Tutor Perini Corp (NYSE:TPC) have earned a consensus rating of “Buy” from the ten ratings firms that are presently covering the firm. Three investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $31.00.
A number of analysts have commented on TPC shares. FBR & Co increased their price target on shares of Tutor Perini Corp from $35.00 to $38.00 and gave the company an “outperform” rating in a research note on Thursday, January 26th. Standpoint Research upgraded shares of Tutor Perini Corp from a “hold” rating to a “buy” rating in a research note on Wednesday, January 25th. DA Davidson reiterated a “buy” rating on shares of Tutor Perini Corp in a research note on Thursday, February 16th. Finally, KeyCorp assumed coverage on shares of Tutor Perini Corp in a research note on Friday, January 27th. They set a “sector weight” rating for the company.
In related news, COO James A. Frost sold 110,000 shares of the firm’s stock in a transaction dated Friday, March 17th. The shares were sold at an average price of $30.27, for a total transaction of $3,329,700.00. Following the transaction, the chief operating officer now directly owns 534,661 shares of the company’s stock, valued at $16,184,188.47. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 23.40% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in TPC. Frontier Capital Management Co. LLC raised its position in Tutor Perini Corp by 71.1% in the fourth quarter. Frontier Capital Management Co. LLC now owns 1,761,186 shares of the construction company’s stock worth $49,313,000 after buying an additional 731,663 shares in the last quarter. Peregrine Capital Management LLC purchased a new position in Tutor Perini Corp during the third quarter valued at approximately $8,919,000. Boston Partners raised its position in Tutor Perini Corp by 35.2% in the first quarter. Boston Partners now owns 1,514,145 shares of the construction company’s stock valued at $48,150,000 after buying an additional 394,148 shares in the last quarter. Cortina Asset Management LLC raised its position in Tutor Perini Corp by 152.4% in the first quarter. Cortina Asset Management LLC now owns 609,291 shares of the construction company’s stock valued at $19,375,000 after buying an additional 367,904 shares in the last quarter. Finally, Russell Investments Group Ltd. purchased a new position in Tutor Perini Corp during the fourth quarter valued at approximately $8,590,000. 80.29% of the stock is currently owned by institutional investors and hedge funds.
Shares of Tutor Perini Corp (NYSE:TPC) opened at 26.40 on Monday. The firm has a market cap of $1.31 billion, a PE ratio of 14.09 and a beta of 2.60. Tutor Perini Corp has a 12-month low of $18.05 and a 12-month high of $33.00. The company has a 50 day moving average price of $29.91 and a 200-day moving average price of $28.68.
Tutor Perini Corp (NYSE:TPC) last announced its quarterly earnings results on Thursday, February 23rd. The construction company reported $0.60 EPS for the quarter, meeting analysts’ consensus estimates of $0.60. The firm had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Tutor Perini Corp had a net margin of 1.51% and a return on equity of 5.05%. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.18 earnings per share. Analysts expect that Tutor Perini Corp will post $2.29 EPS for the current year.
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Tutor Perini Corp Company Profile
Tutor Perini Corporation is a construction company offering general contracting, construction management and design-build services to private customers and public agencies across the world. The Company operates through three segments: Civil, Building and Specialty Contractors. Its Civil segment specializes in public works construction and the repair, replacement and reconstruction of infrastructure across various geographic regions of the United States.
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