Zacks Investment Research upgraded shares of Tutor Perini (NYSE:TPC) from a hold rating to a buy rating in a research report released on Saturday, January 20th. They currently have $30.00 target price on the construction company’s stock.
According to Zacks, “Tutor Perini Corporation provides diversified general contracting, construction management and design-build services to private clients and public agencies worldwide. The company operates in four segments: Civil, Building, Specialty Contractors, and Management Services. The Civil segment engages in public works construction activities and the repair, replacement, and reconstruction of infrastructure. The Building segment offers services in specialized building markets, including hospitality and gaming, transportation, healthcare, municipal offices, sports and entertainment, education, correctional facilities, biotech, pharmaceutical, industrial, and high technology. The Specialty Contractors segment provides plumbing, HVAC, electrical, mechanical, and concrete services for the industrial, commercial, hospitality and gaming, and transportation markets. The Management Services segment offers construction and design-build services to the U.S. military and government agencies, and multi-national corporations. “
Other equities research analysts have also recently issued research reports about the company. ValuEngine cut Tutor Perini from a buy rating to a hold rating in a research note on Friday, November 10th. B. Riley cut their price target on Tutor Perini from $37.00 to $35.00 and set a buy rating for the company in a research note on Tuesday, November 14th. cut their price target on Tutor Perini from $37.00 to $35.00 and set a buy rating for the company in a research note on Wednesday, November 15th. Seaport Global Securities cut Tutor Perini from a buy rating to a neutral rating and cut their price objective for the stock from $40.00 to $31.00 in a research report on Wednesday, October 11th. Finally, Canaccord Genuity cut their price objective on Tutor Perini from $35.00 to $32.00 and set a buy rating for the company in a research report on Friday, November 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $32.60.
Tutor Perini (NYSE TPC) opened at $21.60 on Friday. Tutor Perini has a 52-week low of $21.15 and a 52-week high of $32.70. The company has a market capitalization of $1,080.00, a PE ratio of 11.19, a PEG ratio of 0.84 and a beta of 2.13. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.07 and a current ratio of 2.07.
In related news, Director Dale Ann Reiss sold 4,829 shares of the stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $27.28, for a total transaction of $131,735.12. Following the transaction, the director now directly owns 20,625 shares in the company, valued at $562,650. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder N. Tutor Separate Prope Ronald sold 25,000 shares of the stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $25.60, for a total value of $640,000.00. Following the transaction, the insider now owns 5,798,120 shares in the company, valued at $148,431,872. The disclosure for this sale can be found here. Insiders sold 54,829 shares of company stock worth $1,400,985 in the last three months. 24.50% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in TPC. Boston Partners raised its holdings in shares of Tutor Perini by 33.2% in the 3rd quarter. Boston Partners now owns 2,288,432 shares of the construction company’s stock worth $64,992,000 after purchasing an additional 570,799 shares during the period. Frontier Capital Management Co. LLC raised its holdings in shares of Tutor Perini by 27.3% in the 4th quarter. Frontier Capital Management Co. LLC now owns 2,405,525 shares of the construction company’s stock worth $60,980,000 after purchasing an additional 516,367 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Tutor Perini by 4,205.8% during the 2nd quarter. Principal Financial Group Inc. now owns 384,639 shares of the construction company’s stock valued at $11,058,000 after buying an additional 375,706 shares during the period. Northern Trust Corp raised its holdings in shares of Tutor Perini by 59.9% during the 2nd quarter. Northern Trust Corp now owns 764,431 shares of the construction company’s stock valued at $21,978,000 after buying an additional 286,310 shares during the period. Finally, Formula Growth Ltd. purchased a new stake in shares of Tutor Perini during the 3rd quarter valued at about $7,526,000. Institutional investors own 84.85% of the company’s stock.
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About Tutor Perini
Tutor Perini Corporation is a construction company offering general contracting, construction management and design-build services to private customers and public agencies across the world. The Company operates through three segments: Civil, Building and Specialty Contractors. Its Civil segment specializes in public works construction and the repair, replacement and reconstruction of infrastructure across various geographic regions of the United States.
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