Tutor Perini (NYSE:TPC) Shares Gap Up to $13.55

Tutor Perini Co. (NYSE:TPC)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $13.55, but opened at $13.92. Tutor Perini shares last traded at $13.53, with a volume of 222,736 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Tutor Perini from a “buy” rating to a “hold” rating in a report on Saturday, March 30th.

Tutor Perini Price Performance

The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $694.28 million, a P/E ratio of -4.06 and a beta of 1.62. The business’s fifty day moving average price is $12.27 and its 200-day moving average price is $9.63.

Tutor Perini (NYSE:TPC) last posted its quarterly earnings data on Wednesday, February 28th. The construction company reported ($0.91) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.98). Tutor Perini had a negative return on equity of 12.73% and a negative net margin of 4.41%. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $951.50 million. As a group, sell-side analysts predict that Tutor Perini Co. will post 0.92 earnings per share for the current fiscal year.

Insider Transactions at Tutor Perini

In other Tutor Perini news, President Gary G. Smalley sold 27,958 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $12.86, for a total value of $359,539.88. Following the completion of the sale, the president now directly owns 112,245 shares of the company’s stock, valued at $1,443,470.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Tutor Perini news, President Gary G. Smalley sold 27,958 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $12.86, for a total value of $359,539.88. Following the completion of the sale, the president now directly owns 112,245 shares of the company’s stock, valued at $1,443,470.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Gary G. Smalley sold 15,940 shares of the business’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $13.28, for a total transaction of $211,683.20. Following the completion of the sale, the president now directly owns 68,346 shares of the company’s stock, valued at $907,634.88. The disclosure for this sale can be found here. In the last ninety days, insiders sold 64,201 shares of company stock valued at $822,980. Insiders own 21.30% of the company’s stock.

Hedge Funds Weigh In On Tutor Perini

A number of hedge funds have recently modified their holdings of the company. BlackRock Inc. increased its position in shares of Tutor Perini by 6.5% in the second quarter. BlackRock Inc. now owns 5,508,141 shares of the construction company’s stock valued at $39,383,000 after acquiring an additional 335,690 shares during the period. Donald Smith & CO. Inc. increased its position in shares of Tutor Perini by 20.4% in the fourth quarter. Donald Smith & CO. Inc. now owns 3,899,899 shares of the construction company’s stock valued at $35,489,000 after acquiring an additional 659,657 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Tutor Perini by 2.7% in the first quarter. Dimensional Fund Advisors LP now owns 2,658,964 shares of the construction company’s stock valued at $28,716,000 after acquiring an additional 69,285 shares during the period. Vanguard Group Inc. increased its position in shares of Tutor Perini by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 2,308,023 shares of the construction company’s stock valued at $21,003,000 after acquiring an additional 60,076 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Tutor Perini by 2.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,992,319 shares of the construction company’s stock valued at $18,130,000 after acquiring an additional 53,927 shares during the period. Hedge funds and other institutional investors own 65.01% of the company’s stock.

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 in the United States and internationally. It operates through three segments: Civil, Building, and Specialty Contractors.