Tutor Perini (NYSE:TPC) Shares Down 4.8% – Here’s Why

Tutor Perini Co. (NYSE:TPC) fell 4.8% during trading on Tuesday . The company traded as low as $20.66 and last traded at $19.08. 26,087 shares changed hands during mid-day trading, a decline of 95% from the average session volume of 518,068 shares. The stock had previously closed at $20.03.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Vertical Research began coverage on shares of Tutor Perini in a report on Tuesday, December 10th. They set a “buy” rating and a $38.00 price objective for the company. B. Riley raised Tutor Perini to a “strong-buy” rating in a research note on Tuesday, March 18th. Finally, StockNews.com lowered Tutor Perini from a “buy” rating to a “hold” rating in a research report on Tuesday, January 28th.

Tutor Perini Stock Performance

The firm has a market capitalization of $1.05 billion, a P/E ratio of -7.99 and a beta of 1.47. The stock has a fifty day moving average of $23.91 and a 200-day moving average of $25.62. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.53.

Tutor Perini (NYSE:TPC) last posted its quarterly earnings results on Thursday, February 27th. The construction company reported ($1.51) earnings per share for the quarter, missing the consensus estimate of $0.29 by ($1.80). The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.08 billion. Tutor Perini had a negative return on equity of 9.56% and a negative net margin of 3.08%. During the same period last year, the firm earned ($0.91) EPS.

Hedge Funds Weigh In On Tutor Perini

Several hedge funds and other institutional investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company increased its position in Tutor Perini by 35.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 22,827 shares of the construction company’s stock valued at $620,000 after acquiring an additional 5,953 shares during the period. FMR LLC increased its holdings in 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 purchasing an additional 2,399 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Tutor Perini by 7.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 60,331 shares of the construction company’s stock worth $1,639,000 after purchasing an additional 4,070 shares during the last quarter. State Street Corp lifted its holdings in Tutor Perini by 2.0% during the 3rd quarter. State Street Corp now owns 975,082 shares of the construction company’s stock worth $26,483,000 after buying an additional 19,518 shares during the period. Finally, EP Wealth Advisors LLC acquired a new position in Tutor Perini during the 3rd quarter worth about $234,000. 65.01% of the stock is currently owned by institutional investors and hedge funds.

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.