Traders Purchase High Volume of Call Options on Tutor Perini (TPC)

Tutor Perini Corporation (NYSE:TPC) saw unusually large options trading activity on Monday. Stock investors bought 507 call options on the company. This is an increase of 680% compared to the average volume of 65 call options.

Shares of Tutor Perini (TPC) opened at $27.10 on Friday. The stock has a market cap of $1,376.44, a P/E ratio of 14.33, a PEG ratio of 1.51 and a beta of 2.36. Tutor Perini has a 52 week low of $22.60 and a 52 week high of $33.00. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.52.

Tutor Perini (NYSE:TPC) last released its quarterly earnings results on Thursday, November 9th. The construction company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.22). The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Tutor Perini had a net margin of 2.03% and a return on equity of 6.16%. Tutor Perini’s revenue was down 10.0% on a year-over-year basis. During the same period last year, the firm posted $0.57 earnings per share. sell-side analysts anticipate that Tutor Perini will post 1.83 earnings per share for the current fiscal year.

In other Tutor Perini news, major shareholder N. Tutor Separate Prope Ronald sold 25,000 shares of Tutor Perini stock in a transaction dated Thursday, November 30th. The shares were 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 24.50% of the stock is owned by insiders.

Institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new stake in shares of Tutor Perini in the 3rd quarter valued at approximately $135,000. Victory Capital Management Inc. raised its stake in shares of Tutor Perini by 119.4% in the 3rd quarter. Victory Capital Management Inc. now owns 6,877 shares of the construction company’s stock valued at $195,000 after acquiring an additional 3,743 shares during the period. Macquarie Group Ltd. acquired a new position in shares of Tutor Perini in the third quarter valued at approximately $207,000. BNP Paribas Arbitrage SA grew its holdings in shares of Tutor Perini by 239.8% in the second quarter. BNP Paribas Arbitrage SA now owns 8,112 shares of the construction company’s stock valued at $233,000 after purchasing an additional 5,725 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of Tutor Perini in the third quarter valued at approximately $282,000. 81.78% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have commented on TPC. Zacks Investment Research raised shares of Tutor Perini from a “sell” rating to a “hold” rating in a research note on Wednesday, October 11th. Seaport Global Securities downgraded shares of Tutor Perini from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $40.00 to $31.00 in a research note on Wednesday, October 11th. B. Riley reaffirmed a “buy” rating on shares of Tutor Perini in a research note on Wednesday, November 1st. ValuEngine raised shares of Tutor Perini from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Finally, Canaccord Genuity reissued a “buy” rating and issued a $35.00 price target on shares of Tutor Perini in a research note on Saturday, August 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $33.63.

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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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