Tutor Perini Corporation (TPC) Receives Consensus Rating of “Buy” from Brokerages
Shares of Tutor Perini Corporation (NYSE:TPC) have been given an average recommendation of “Buy” by the thirteen analysts that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $33.86.
A number of brokerages have commented on TPC. ValuEngine upgraded Tutor Perini from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. decreased 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. B. Riley decreased 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. 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. Finally, Zacks Investment Research raised Tutor Perini from a “sell” rating to a “hold” rating in a research report on Wednesday, October 11th.
Tutor Perini (NYSE:TPC) traded down $1.05 during trading hours on Friday, reaching $26.60. The company had a trading volume of 425,900 shares, compared to its average volume of 362,770. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.52. The firm has a market cap of $1,376.44, a price-to-earnings ratio of 14.33, a P/E/G ratio of 1.51 and a beta of 2.36. Tutor Perini has a twelve month low of $22.60 and a twelve month high of $33.00.
In other Tutor Perini news, major shareholder N. Tutor Separate Prope Ronald sold 25,000 shares of Tutor Perini 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 sale, the insider now owns 5,798,120 shares of the company’s stock, valued at approximately $148,431,872. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 24.50% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sterling Capital Management LLC raised its position in shares of Tutor Perini by 15.8% in the third quarter. Sterling Capital Management LLC now owns 61,173 shares of the construction company’s stock valued at $1,737,000 after buying an additional 8,352 shares in the last quarter. California Public Employees Retirement System grew its stake in shares of Tutor Perini by 7.4% in the third quarter. California Public Employees Retirement System now owns 86,361 shares of the construction company’s stock worth $2,453,000 after purchasing an additional 5,961 shares during the last quarter. Asset Management One Co. Ltd. grew its stake in shares of Tutor Perini by 204.9% in the third quarter. Asset Management One Co. Ltd. now owns 343,589 shares of the construction company’s stock worth $9,827,000 after purchasing an additional 230,916 shares during the last quarter. Westside Investment Management Inc. grew its stake in shares of Tutor Perini by 22.7% in the third quarter. Westside Investment Management Inc. now owns 56,280 shares of the construction company’s stock worth $1,618,000 after purchasing an additional 10,425 shares during the last quarter. Finally, Formula Growth Ltd. bought a new stake in Tutor Perini during the third quarter valued at $7,526,000. Institutional investors own 81.78% of the company’s stock.
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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