Tutor Perini Corp (TPC) Receives Consensus Rating of “Buy” from Brokerages
Shares of Tutor Perini Corp (NYSE:TPC) have been given an average recommendation of “Buy” by the eleven brokerages that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $34.20.
Several research analysts have commented on the stock. B. Riley reissued a “buy” rating on shares of Tutor Perini in a report on Wednesday, November 1st. ValuEngine raised shares of Tutor Perini from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Zacks Investment Research raised shares of Tutor Perini from a “sell” rating to a “hold” rating in a report on Wednesday, October 11th. Canaccord Genuity cut their price target on shares of Tutor Perini from $35.00 to $32.00 and set a “buy” rating for the company in a report on Friday, November 10th. Finally, lowered their price objective on shares of Tutor Perini from $37.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, November 15th.
Shares of Tutor Perini (NYSE:TPC) traded down $0.10 during trading hours on Tuesday, reaching $25.75. 286,506 shares of the company’s stock traded hands, compared to its average volume of 454,167. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.07 and a current ratio of 2.07. Tutor Perini has a 1 year low of $22.60 and a 1 year high of $33.00. The company has a market cap of $1,300.00, a P/E ratio of 13.34, a price-to-earnings-growth ratio of 0.96 and a beta of 2.37.
In related news, major shareholder N. Tutor Separate Prope Ronald sold 25,000 shares of Tutor Perini stock in a transaction on Tuesday, December 5th. The shares were 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 approximately $148,431,872. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Dale Ann Reiss sold 4,829 shares of Tutor Perini stock in a transaction on Monday, December 18th. The stock was sold at an average price of $27.28, for a total transaction of $131,735.12. Following the completion of the transaction, the director now owns 20,625 shares in the company, valued at approximately $562,650. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,829 shares of company stock worth $1,400,985. Corporate insiders own 24.50% of the company’s stock.
Large investors have recently modified their holdings of the stock. Ameriprise Financial Inc. raised its position in Tutor Perini by 86.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 162,956 shares of the construction company’s stock worth $4,682,000 after purchasing an additional 75,407 shares during the period. Parametrica Management Ltd purchased a new position in Tutor Perini in the 3rd quarter worth $688,000. TIAA CREF Investment Management LLC raised its position in Tutor Perini by 8.7% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 146,439 shares of the construction company’s stock worth $4,210,000 after purchasing an additional 11,708 shares during the period. State Street Corp raised its position in Tutor Perini by 4.7% in the 2nd quarter. State Street Corp now owns 750,365 shares of the construction company’s stock worth $21,576,000 after purchasing an additional 33,774 shares during the period. Finally, Principal Financial Group Inc. raised its position in Tutor Perini by 1.5% in the 3rd quarter. Principal Financial Group Inc. now owns 390,557 shares of the construction company’s stock worth $11,091,000 after purchasing an additional 5,918 shares during the period. 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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