Tutor Perini (NYSE:TPC) Shares Down 19.2% – Time to Sell?

Shares of Tutor Perini Co. (NYSE:TPC) traded down 19.2% during mid-day trading on Thursday . The company traded as low as $24.00 and last traded at $19.62. 205,977 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 611,812 shares. The stock had previously closed at $24.29.

Analysts Set New Price Targets

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

Tutor Perini Price Performance

The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of -9.79 and a beta of 1.54. 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’s 50-day simple moving average is $25.54 and its 200 day simple moving average is $25.14.

Tutor Perini (NYSE:TPC) last released its earnings results on Wednesday, November 6th. The construction company reported ($1.92) earnings per share for the quarter, missing the consensus estimate of ($1.89) by ($0.03). Tutor Perini had a negative net margin of 3.08% and a negative return on equity of 9.56%. The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same period in the previous year, the company posted ($0.71) EPS. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. Equities research analysts forecast that Tutor Perini Co. will post -1.47 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Ronald N. Tutor sold 50,000 shares of Tutor Perini stock in a transaction on Friday, November 8th. The shares were sold at an average price of $30.78, for a total value of $1,539,000.00. Following the completion of the sale, the chief executive officer now owns 2,362,267 shares in the company, valued at $72,710,578.26. The trade was a 2.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Raymond R. Oneglia sold 100,000 shares of Tutor Perini stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $28.73, for a total transaction of $2,873,000.00. Following the completion of the sale, the director now directly owns 400,000 shares of the company’s stock, valued at approximately $11,492,000. The trade was a 20.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 325,000 shares of company stock worth $9,686,000 in the last quarter. 19.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tutor Perini

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TPC. USA Financial Formulas lifted its holdings in Tutor Perini by 19.6% during the third quarter. USA Financial Formulas now owns 3,451 shares of the construction company’s stock valued at $94,000 after purchasing an additional 566 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Tutor Perini by 3.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,874 shares of the construction company’s stock worth $368,000 after acquiring an additional 571 shares in the last quarter. CWM LLC boosted its position 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 valued at $71,000 after acquiring an additional 908 shares during the last quarter. Plato Investment Management Ltd purchased a new position in shares of Tutor Perini in the third quarter valued at $52,000. Finally, FMR LLC increased its position in Tutor Perini by 103.1% in the third quarter. FMR LLC now owns 4,725 shares of the construction company’s stock worth $128,000 after purchasing an additional 2,399 shares during the last quarter. 65.01% of the stock is currently owned by institutional investors.

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