Tutor Perini (NYSE:TPC) Stock Price Down 16.9% – What’s Next?

Shares of Tutor Perini Co. (NYSE:TPC) fell 16.9% during mid-day trading on Tuesday . The stock traded as low as $23.21 and last traded at $19.69. 19,181 shares traded hands during trading, a decline of 97% from the average session volume of 597,450 shares. The stock had previously closed at $23.69.

Wall Street Analyst Weigh In

A number of equities analysts have commented on TPC shares. StockNews.com downgraded shares of Tutor Perini from a “buy” rating to a “hold” rating in a report on Tuesday, January 28th. UBS Group boosted their price objective on shares of Tutor Perini from $27.00 to $39.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. B. Riley increased their price objective on shares of Tutor Perini from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, Vertical Research began coverage on Tutor Perini in a research note on Tuesday, December 10th. They issued a “buy” rating and a $38.00 target price for the company.

Tutor Perini Trading Down 3.2 %

The firm’s fifty day moving average price is $24.42 and its 200-day moving average price is $25.07. The company has a market cap of $1.20 billion, a price-to-earnings ratio of -9.14 and a beta of 1.52. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.55 and a quick ratio of 1.55.

Insider Buying and Selling at Tutor Perini

In other Tutor Perini news, Director Raymond R. Oneglia sold 100,000 shares of Tutor Perini stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $28.73, for a total transaction of $2,873,000.00. Following the sale, the director now owns 400,000 shares of the company’s stock, valued at $11,492,000. The trade was a 20.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 19.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Plato Investment Management Ltd acquired a new stake in Tutor Perini in the third quarter worth about $52,000. CWM LLC lifted its stake in shares of Tutor Perini by 53.0% in the 3rd quarter. CWM LLC now owns 2,622 shares of the construction company’s stock worth $71,000 after acquiring an additional 908 shares during the period. FMR LLC boosted its holdings in shares of Tutor Perini by 103.1% in the third quarter. FMR LLC now owns 4,725 shares of the construction company’s stock valued at $128,000 after acquiring an additional 2,399 shares in the last quarter. State of Wyoming increased its stake in shares of Tutor Perini by 39.7% during the fourth quarter. State of Wyoming now owns 6,212 shares of the construction company’s stock valued at $150,000 after acquiring an additional 1,764 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new stake in Tutor Perini during the third quarter worth approximately $201,000. Institutional investors own 65.01% of the company’s stock.

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 in the United States and internationally. It operates through three segments: Civil, Building, and Specialty Contractors.