Tutor Perini (NYSE:TPC) Stock Price Down 8.1% – What’s Next?

Shares of Tutor Perini Co. (NYSE:TPC) dropped 8.1% during trading on Tuesday . The company traded as low as $21.57 and last traded at $19.77. Approximately 27,819 shares were traded during mid-day trading, a decline of 95% from the average daily volume of 585,466 shares. The stock had previously closed at $21.51.

Analyst Ratings Changes

A number of brokerages recently weighed in on TPC. StockNews.com downgraded shares of Tutor Perini from a “buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Vertical Research began coverage on Tutor Perini in a report on Tuesday, December 10th. They set a “buy” rating and a $38.00 price target on the stock. Finally, B. Riley lifted their price objective on Tutor Perini from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, November 7th.

Tutor Perini Stock Performance

The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.53. The company has a market cap of $1.04 billion, a PE ratio of -8.90 and a beta of 1.52. The business’s fifty day moving average is $24.05 and its 200-day moving average is $25.16.

Hedge Funds Weigh In On Tutor Perini

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Commonwealth Equity Services LLC raised its stake in shares of Tutor Perini by 7.3% in the fourth quarter. Commonwealth Equity Services LLC now owns 10,291 shares of the construction company’s stock valued at $249,000 after acquiring an additional 700 shares during the period. CWM LLC boosted its stake in shares of Tutor Perini by 53.0% during the 3rd quarter. CWM LLC now owns 2,622 shares of the construction company’s stock worth $71,000 after purchasing an additional 908 shares during the period. Sterling Capital Management LLC grew its holdings in Tutor Perini by 7.0% during the 4th quarter. Sterling Capital Management LLC now owns 18,836 shares of the construction company’s stock valued at $456,000 after purchasing an additional 1,235 shares during the last quarter. Gotham Asset Management LLC raised its position in Tutor Perini by 4.3% in the 4th quarter. Gotham Asset Management LLC now owns 38,684 shares of the construction company’s stock worth $936,000 after purchasing an additional 1,609 shares during the period. Finally, EP Wealth Advisors LLC lifted its stake in Tutor Perini by 19.5% in the fourth quarter. EP Wealth Advisors LLC now owns 10,294 shares of the construction company’s stock worth $249,000 after purchasing an additional 1,680 shares during the last quarter. 65.01% of the stock is owned by hedge funds and other institutional investors.

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.