ValuEngine upgraded shares of Tutor Perini (NYSE:TPC) from a strong sell rating to a sell rating in a report released on Friday morning.
Several other analysts also recently commented on TPC. Zacks Investment Research downgraded shares of Tutor Perini from a hold rating to a sell rating in a research report on Friday, October 26th. MKM Partners set a $28.00 price target on shares of Tutor Perini and gave the company a buy rating in a research report on Friday, September 28th. UBS Group set a $24.00 price target on shares of Tutor Perini and gave the company a buy rating in a research report on Thursday, November 8th. Finally, B. Riley reduced their price target on shares of Tutor Perini from $26.00 to $24.00 and set a buy rating for the company in a research report on Thursday, November 8th. Two investment analysts have rated the stock with a sell rating and seven have given a buy rating to the company. Tutor Perini has a consensus rating of Buy and a consensus price target of $27.57.
Shares of NYSE:TPC traded up $0.23 during trading on Friday, hitting $17.83. 290,271 shares of the company were exchanged, compared to its average volume of 559,431. The company has a market capitalization of $874.45 million, a PE ratio of 12.38, a P/E/G ratio of 1.00 and a beta of 2.08. The company has a current ratio of 1.94, a quick ratio of 1.94 and a debt-to-equity ratio of 0.45. Tutor Perini has a 12-month low of $14.92 and a 12-month high of $28.30.
In other news, Director Sidney J. Feltenstein acquired 20,000 shares of the company’s stock in a transaction on Monday, November 12th. The shares were bought at an average cost of $17.23 per share, with a total value of $344,600.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder N. Tutor Separate Prope Ronald sold 27,433 shares of the business’s stock in a transaction on Friday, August 24th. The shares were sold at an average price of $20.02, for a total transaction of $549,208.66. Following the completion of the transaction, the insider now directly owns 5,698,983 shares in the company, valued at $114,093,639.66. The disclosure for this sale can be found here. In the last quarter, insiders sold 117,574 shares of company stock valued at $2,367,300. 24.50% of the stock is owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Xact Kapitalforvaltning AB acquired a new position in Tutor Perini in the 1st quarter valued at $210,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Tutor Perini in the 3rd quarter valued at $260,000. Commonwealth Bank of Australia acquired a new position in Tutor Perini in the 3rd quarter valued at $261,000. Nomura Holdings Inc. acquired a new position in Tutor Perini in the 2nd quarter valued at $298,000. Finally, Foundry Partners LLC increased its stake in Tutor Perini by 34.1% in the 3rd quarter. Foundry Partners LLC now owns 16,355 shares of the construction company’s stock valued at $307,000 after buying an additional 4,155 shares during the period. 86.44% of the stock is currently owned by institutional investors.
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 worldwide. The company operates through three segments: Civil, Building, and Specialty Contractors. The Civil segment engages in the public works construction, replacement, and reconstruction of infrastructure, including highways, bridges, tunnels, mass-transit systems, and water management and wastewater treatment facilities.
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