Zacks Investment Research Downgrades Tutor Perini (TPC) to Hold

Tutor Perini (NYSE:TPC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.

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. “

Several other brokerages also recently commented on TPC. ValuEngine raised Tutor Perini from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Canaccord Genuity reduced their target price on Tutor Perini from $35.00 to $32.00 and set a “buy” rating for the company in a report on Friday, November 10th. B. Riley reaffirmed a “buy” rating on shares of Tutor Perini in a report on Wednesday, November 1st. Finally, reduced their target price on Tutor Perini from $37.00 to $35.00 and set a “buy” rating for the company in a report on Wednesday, November 15th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $32.60.

Shares of Tutor Perini (NYSE TPC) traded up $0.50 during midday trading on Tuesday, hitting $22.10. The stock had a trading volume of 147,688 shares, compared to its average volume of 488,861. Tutor Perini has a twelve month low of $21.15 and a twelve month high of $32.70. The stock has a market capitalization of $1,115.09, a P/E ratio of 11.30, a price-to-earnings-growth 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, major shareholder N. Tutor Separate Prope Ronald sold 25,000 shares of the company’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $25.17, for a total transaction of $629,250.00. Following the transaction, the insider now directly owns 5,823,120 shares of the company’s stock, valued at $146,567,930.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dale Ann Reiss sold 4,829 shares of the company’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $27.28, for a total value of $131,735.12. Following the transaction, the director now directly owns 20,625 shares in the company, valued at $562,650. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 54,829 shares of company stock valued at $1,400,985. 24.50% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the stock. SeaCrest Wealth Management LLC acquired a new position in Tutor Perini during the fourth quarter valued at $101,000. SG Americas Securities LLC acquired a new position in Tutor Perini during the third quarter valued at $135,000. Victory Capital Management Inc. raised its position in Tutor Perini by 119.4% during the third quarter. Victory Capital Management Inc. now owns 6,877 shares of the construction company’s stock valued at $195,000 after buying an additional 3,743 shares during the period. Macquarie Group Ltd. acquired a new position in Tutor Perini during the third quarter valued at $207,000. Finally, Bank of Montreal Can raised its position in Tutor Perini by 328.5% during the fourth quarter. Bank of Montreal Can now owns 7,550 shares of the construction company’s stock valued at $191,000 after buying an additional 5,788 shares during the period. 84.85% of the stock is currently owned by hedge funds and other institutional investors.

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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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