Tutor Perini Corporation (TPC) Bond Prices Rise 0.5% Analyst

An issue of Tutor Perini Corporation (NYSE:TPC) debt rose 0.5% as a percentage of its face value during trading on Tuesday after B. Riley lowered their price target on the stock from $37.00 to $35.00. The high-yield debt issue has a 6.875% coupon and is set to mature on May 1, 2025. The debt is now trading at $106.25. Price changes in a company’s debt in credit markets often anticipate parallel changes in its stock price.

TPC has been the topic of several other research reports. Seaport Global Securities lowered shares of Tutor Perini Corporation from a “buy” rating to a “neutral” rating and dropped their price target for the company from $40.00 to $31.00 in a research note on Wednesday, October 11th. Zacks Investment Research upgraded shares of Tutor Perini Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, October 11th. BidaskClub lowered shares of Tutor Perini Corporation from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 1st. Canaccord Genuity restated a “buy” rating and issued a $35.00 price target on shares of Tutor Perini Corporation in a research note on Saturday, August 26th. Finally, KeyCorp restated a “hold” rating on shares of Tutor Perini Corporation in a research note on Friday, August 25th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. Tutor Perini Corporation presently has an average rating of “Buy” and an average price target of $33.43.

In other Tutor Perini Corporation news, major shareholder N. Tutor Separate Prope Ronald sold 25,000 shares of Tutor Perini Corporation stock in a transaction that occurred 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 transaction, the insider now owns 5,923,120 shares in the company, valued at $154,652,663.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Ronald N. Tutor sold 3,617 shares of Tutor Perini Corporation stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $26.02, for a total transaction of $94,114.34. The disclosure for this sale can be found here. Insiders have sold 175,000 shares of company stock worth $4,566,711 in the last quarter. Company insiders own 24.50% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC acquired a new position in Tutor Perini Corporation in the third quarter worth approximately $135,000. Victory Capital Management Inc. grew its position in Tutor Perini Corporation by 119.4% in the third quarter. Victory Capital Management Inc. now owns 6,877 shares of the construction company’s stock worth $195,000 after buying an additional 3,743 shares during the last quarter. Macquarie Group Ltd. acquired a new position in Tutor Perini Corporation in the third quarter worth approximately $207,000. BNP Paribas Arbitrage SA grew its position in Tutor Perini Corporation by 239.8% in the second quarter. BNP Paribas Arbitrage SA now owns 8,112 shares of the construction company’s stock worth $233,000 after buying an additional 5,725 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in Tutor Perini Corporation in the third quarter worth approximately $282,000. Hedge funds and other institutional investors own 81.53% of the company’s stock.

The company has a debt-to-equity ratio of 0.52, a current ratio of 2.07 and a quick ratio of 2.07. The stock has a market cap of $1,204.70, a PE ratio of 12.54, a PEG ratio of 1.33 and a beta of 2.39.

Tutor Perini Corporation (NYSE:TPC) last posted its quarterly earnings data on Thursday, November 9th. The construction company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.22). Tutor Perini Corporation had a return on equity of 6.22% and a net margin of 2.03%. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same period in the prior year, the business posted $0.57 EPS. The company’s revenue for the quarter was down 10.0% on a year-over-year basis. equities analysts expect that Tutor Perini Corporation will post 1.83 earnings per share for the current year.

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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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