Traders Purchase Large Volume of Tutor Perini Call Options (NYSE:TPC)

Tutor Perini Corp (NYSE:TPC) was the recipient of unusually large options trading activity on Wednesday. Stock traders acquired 3,400 call options on the stock. This represents an increase of approximately 1,173% compared to the average volume of 267 call options.

Several institutional investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of Tutor Perini by 7.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 924,347 shares of the construction company’s stock valued at $11,888,000 after acquiring an additional 60,708 shares in the last quarter. State Street Corp boosted its holdings in Tutor Perini by 2.2% during the fourth quarter. State Street Corp now owns 874,437 shares of the construction company’s stock worth $11,245,000 after buying an additional 18,482 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Tutor Perini by 3.4% during the fourth quarter. Geode Capital Management LLC now owns 518,667 shares of the construction company’s stock worth $6,670,000 after buying an additional 17,137 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Tutor Perini by 319.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 419,751 shares of the construction company’s stock worth $5,398,000 after buying an additional 319,671 shares in the last quarter. Finally, Norges Bank bought a new stake in Tutor Perini during the fourth quarter worth approximately $3,264,000. Institutional investors and hedge funds own 92.65% of the company’s stock.

Several research analysts have commented on the stock. B. Riley decreased their target price on shares of Tutor Perini from $19.00 to $17.00 and set a “buy” rating for the company in a research report on Tuesday, March 17th. Zacks Investment Research cut shares of Tutor Perini from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 3rd. ValuEngine upgraded shares of Tutor Perini from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. Finally, DA Davidson decreased their target price on shares of Tutor Perini from $22.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $18.00.

NYSE TPC opened at $7.08 on Friday. Tutor Perini has a 52 week low of $2.61 and a 52 week high of $20.37. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.50. The stock has a market cap of $307.33 million, a price-to-earnings ratio of -0.92 and a beta of 1.36. The company has a 50-day moving average price of $10.64 and a two-hundred day moving average price of $13.25.

Tutor Perini (NYSE:TPC) last posted its earnings results on Wednesday, February 26th. The construction company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.82). The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.27 billion. Tutor Perini had a positive return on equity of 2.19% and a negative net margin of 8.71%. As a group, equities research analysts expect that Tutor Perini will post 1.8 earnings per share for the current fiscal year.

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 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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