Tutor Perini Corporation (TPC) Given Average Recommendation of “Hold” by Brokerages
Tutor Perini Corporation (NYSE:TPC) has received a consensus recommendation of “Hold” from the eleven research firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $32.00.
Several equities research analysts recently commented on the company. BidaskClub upgraded Tutor Perini Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, July 6th. Zacks Investment Research lowered Tutor Perini Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. KeyCorp reiterated a “hold” rating on shares of Tutor Perini Corporation in a research report on Friday, August 25th. Canaccord Genuity reiterated a “buy” rating and issued a $35.00 price objective on shares of Tutor Perini Corporation in a research report on Saturday, August 26th. Finally, Seaport Global Securities lowered Tutor Perini Corporation from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $40.00 to $31.00 in a research report on Wednesday, October 11th.
In related news, CEO Ronald N. Tutor sold 75,000 shares of Tutor Perini Corporation stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $26.09, for a total value of $1,956,750.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder N. Tutor Separate Prope Ronald sold 25,000 shares of Tutor Perini Corporation stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $26.11, for a total value of $652,750.00. Following the completion of the transaction, the insider now owns 5,923,120 shares of the company’s stock, valued at $154,652,663.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 175,000 shares of company stock valued at $4,566,711. 24.50% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of the business. TrueNorth Inc. raised its stake in Tutor Perini Corporation by 94.9% in the third quarter. TrueNorth Inc. now owns 86,054 shares of the construction company’s stock valued at $2,444,000 after buying an additional 41,902 shares in the last quarter. Boston Advisors LLC raised its stake in Tutor Perini Corporation by 3.6% in the third quarter. Boston Advisors LLC now owns 195,613 shares of the construction company’s stock valued at $5,555,000 after buying an additional 6,863 shares in the last quarter. Mutual of America Capital Management LLC raised its stake in Tutor Perini Corporation by 61.5% in the third quarter. Mutual of America Capital Management LLC now owns 112,639 shares of the construction company’s stock valued at $3,199,000 after buying an additional 42,908 shares in the last quarter. Afam Capital Inc. raised its stake in Tutor Perini Corporation by 2.1% in the second quarter. Afam Capital Inc. now owns 168,832 shares of the construction company’s stock valued at $4,854,000 after buying an additional 3,548 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in Tutor Perini Corporation by 1.6% in the second quarter. The Manufacturers Life Insurance Company now owns 29,820 shares of the construction company’s stock valued at $858,000 after buying an additional 481 shares in the last quarter. Institutional investors own 80.99% of the company’s stock.
Tutor Perini Corporation (NYSE:TPC) traded up 1.81% during mid-day trading on Thursday, reaching $28.10. 337,559 shares of the company traded hands. Tutor Perini Corporation has a 12-month low of $18.35 and a 12-month high of $33.00. The company’s 50-day moving average is $27.65 and its 200-day moving average is $27.61. The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of 13.82 and a beta of 2.45.
Tutor Perini Corporation (NYSE:TPC) last announced its earnings results on Monday, August 7th. The construction company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. Tutor Perini Corporation had a return on equity of 6.60% and a net margin of 2.08%. The business had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter in the prior year, the firm earned $0.43 earnings per share. The business’s revenue was down 4.7% compared to the same quarter last year. Equities analysts predict that Tutor Perini Corporation will post $2.26 earnings per share for the current fiscal year.
Tutor Perini Corporation Company Profile
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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