Tutor Perini Corp (TPC) Receives Consensus Rating of “Buy” from Analysts
Tutor Perini Corp (NYSE:TPC) has received a consensus recommendation of “Buy” from the ten brokerages that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $31.14.
A number of equities analysts have recently commented on the company. Zacks Investment Research raised Tutor Perini from a “sell” rating to a “hold” rating in a research report on Friday, August 10th. B. Riley lowered their price objective on Tutor Perini from $28.00 to $26.00 and set a “buy” rating for the company in a research report on Wednesday, August 8th. MKM Partners set a $28.00 price objective on Tutor Perini and gave the stock a “buy” rating in a research report on Tuesday, August 28th. Finally, ValuEngine raised Tutor Perini from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 2nd.
NYSE TPC traded down $0.25 during trading on Friday, hitting $20.05. The stock had a trading volume of 645,352 shares, compared to its average volume of 277,367. The company has a market cap of $1.00 billion, a P/E ratio of 13.19, a P/E/G ratio of 0.92 and a beta of 2.08. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.97 and a quick ratio of 1.97. Tutor Perini has a twelve month low of $17.55 and a twelve month high of $29.90.
In other news, CEO Ronald N. Tutor sold 27,375 shares of the business’s stock in a transaction dated Thursday, August 23rd. The stock was sold at an average price of $20.24, for a total transaction of $554,070.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder N. Tutor Separate Prope Ronald sold 17,574 shares of the company’s stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $20.08, for a total value of $352,885.92. Following the completion of the transaction, the insider now directly owns 5,626,601 shares of the company’s stock, valued at $112,982,148.08. The disclosure for this sale can be found here. Over the last three months, insiders have sold 117,574 shares of company stock valued at $2,367,300. Corporate insiders own 24.50% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in TPC. Xact Kapitalforvaltning AB acquired a new position in Tutor Perini in the first quarter valued at approximately $210,000. Victory Capital Management Inc. boosted its holdings in Tutor Perini by 65.9% in the first quarter. Victory Capital Management Inc. now owns 12,223 shares of the construction company’s stock valued at $270,000 after purchasing an additional 4,856 shares in the last quarter. Nomura Holdings Inc. acquired a new position in Tutor Perini in the second quarter valued at approximately $298,000. Cambria Investment Management L.P. acquired a new position in Tutor Perini in the first quarter valued at approximately $332,000. Finally, OppenheimerFunds Inc. boosted its holdings in Tutor Perini by 25.2% in the second quarter. OppenheimerFunds Inc. now owns 18,761 shares of the construction company’s stock valued at $346,000 after purchasing an additional 3,781 shares in the last quarter. 86.68% of the stock is owned by hedge funds and other 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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