Tutor Perini (NYSE:TPC) Shares Gap Up to $13.55

Shares of Tutor Perini Co. (NYSE:TPC) gapped up before the market opened on Wednesday . The stock had previously closed at $13.55, but opened at $13.92. Tutor Perini shares last traded at $13.53, with a volume of 222,736 shares trading hands.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Tutor Perini from a “buy” rating to a “hold” rating in a research report on Saturday, March 30th.

Tutor Perini Stock Down 0.7 %

The company has a debt-to-equity ratio of 0.61, a current ratio of 1.66 and a quick ratio of 1.66. The company’s 50-day simple moving average is $12.27 and its 200 day simple moving average is $9.63. The firm has a market cap of $694.28 million, a P/E ratio of -4.06 and a beta of 1.62.

Tutor Perini (NYSE:TPC) last released its quarterly earnings data on Wednesday, February 28th. The construction company reported ($0.91) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.98). Tutor Perini had a negative net margin of 4.41% and a negative return on equity of 12.73%. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $951.50 million. Research analysts anticipate that Tutor Perini Co. will post 0.92 EPS for the current fiscal year.

Insider Transactions at Tutor Perini

In other news, President Gary G. Smalley sold 15,940 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $13.28, for a total value of $211,683.20. Following the completion of the sale, the president now owns 68,346 shares in the company, valued at approximately $907,634.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, President Gary G. Smalley sold 15,940 shares of Tutor Perini stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $13.28, for a total transaction of $211,683.20. Following the completion of the sale, the president now owns 68,346 shares in the company, valued at approximately $907,634.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Gary G. Smalley sold 27,958 shares of Tutor Perini stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $12.86, for a total transaction of $359,539.88. Following the sale, the president now owns 112,245 shares of the company’s stock, valued at approximately $1,443,470.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 64,201 shares of company stock worth $822,980. 21.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Counterpoint Mutual Funds LLC purchased a new position in Tutor Perini during the 1st quarter valued at about $294,000. Westend Capital Management LLC purchased a new position in Tutor Perini during the 1st quarter valued at about $234,000. Los Angeles Capital Management LLC increased its position in Tutor Perini by 77.8% during the 1st quarter. Los Angeles Capital Management LLC now owns 151,727 shares of the construction company’s stock valued at $2,194,000 after purchasing an additional 66,408 shares during the period. Quadrature Capital Ltd purchased a new position in Tutor Perini during the 4th quarter valued at about $243,000. Finally, Vanguard Group Inc. increased its position in Tutor Perini by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 2,308,023 shares of the construction company’s stock valued at $21,003,000 after purchasing an additional 60,076 shares during the period. Hedge funds and other institutional investors own 65.01% of the company’s stock.

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.