Tutor Perini (NYSE:TPC) Raised to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of Tutor Perini (NYSE:TPC) from a buy rating to a strong-buy rating in a research report sent to investors on Monday morning.

TPC has been the subject of a number of other reports. UBS Group lifted their price target on shares of Tutor Perini from $59.00 to $67.00 and gave the stock a “buy” rating in a research note on Thursday, August 7th. B. Riley lifted their price target on shares of Tutor Perini from $50.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, August 7th.

Tutor Perini Stock Down 1.6%

Shares of Tutor Perini stock opened at $57.81 on Monday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.32 and a current ratio of 1.32. The stock has a market capitalization of $3.05 billion, a PE ratio of -22.94 and a beta of 1.83. Tutor Perini has a 52-week low of $18.33 and a 52-week high of $63.96. The company has a 50-day simple moving average of $46.22 and a two-hundred day simple moving average of $32.80.

Tutor Perini (NYSE:TPC) last announced its quarterly earnings results on Wednesday, August 6th. The construction company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $1.12. Tutor Perini had a negative net margin of 2.77% and a negative return on equity of 6.41%. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same period in the previous year, the business posted $0.02 earnings per share. The business’s revenue for the quarter was up 21.8% on a year-over-year basis.

Insider Transactions at Tutor Perini

In related news, Chairman Ronald N. Tutor sold 130,478 shares of the business’s stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $40.93, for a total transaction of $5,340,464.54. Following the completion of the sale, the chairman directly owned 4,570,985 shares in the company, valued at approximately $187,090,416.05. The trade was a 2.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold 310,000 shares of company stock worth $12,270,901 in the last three months. Insiders own 17.30% of the company’s stock.

Institutional Trading of Tutor Perini

Several large investors have recently added to or reduced their stakes in TPC. LPL Financial LLC grew its position in Tutor Perini by 139.3% during the fourth quarter. LPL Financial LLC now owns 44,984 shares of the construction company’s stock valued at $1,089,000 after buying an additional 26,186 shares during the period. Franklin Resources Inc. grew its position in Tutor Perini by 10.4% during the fourth quarter. Franklin Resources Inc. now owns 88,216 shares of the construction company’s stock valued at $2,135,000 after buying an additional 8,309 shares during the period. Wells Fargo & Company MN lifted its holdings in Tutor Perini by 11.7% during the fourth quarter. Wells Fargo & Company MN now owns 52,960 shares of the construction company’s stock valued at $1,282,000 after purchasing an additional 5,533 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in Tutor Perini by 46.8% during the fourth quarter. Envestnet Asset Management Inc. now owns 14,581 shares of the construction company’s stock valued at $353,000 after purchasing an additional 4,649 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in Tutor Perini by 4.5% during the fourth quarter. Renaissance Technologies LLC now owns 624,080 shares of the construction company’s stock valued at $15,103,000 after purchasing an additional 27,100 shares in the last quarter. 65.01% of the stock is currently owned by institutional investors.

Tutor Perini Company Profile

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.