Tutor Perini (NYSE:TPC) Shares Gap Down – Time to Sell?

Tutor Perini Co. (NYSE:TPC) shares gapped down prior to trading on Tuesday . The stock had previously closed at $29.72, but opened at $28.32. Tutor Perini shares last traded at $28.86, with a volume of 43,600 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. StockNews.com cut shares of Tutor Perini from a “buy” rating to a “hold” rating in a research report on Friday. UBS Group upped their price target on shares of Tutor Perini from $27.00 to $39.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, B. Riley raised their price objective on Tutor Perini from $38.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, November 7th.

Tutor Perini Stock Performance

The firm’s fifty day moving average is $26.85 and its 200-day moving average is $23.39. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $1.57 billion, a PE ratio of -11.50 and a beta of 1.50.

Tutor Perini (NYSE:TPC) last posted its quarterly earnings results on Wednesday, November 6th. The construction company reported ($1.92) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.89) by ($0.03). Tutor Perini had a negative net margin of 3.08% and a negative return on equity of 9.56%. The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same period in the prior year, the business earned ($0.71) EPS. Tutor Perini’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, research analysts anticipate that Tutor Perini Co. will post -1.47 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Ronald N. Tutor sold 125,000 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $30.72, for a total value of $3,840,000.00. Following the completion of the sale, the chief executive officer now directly owns 3,257,313 shares of the company’s stock, valued at approximately $100,064,655.36. This represents a 3.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 19.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tutor Perini

A number of hedge funds and other institutional investors have recently bought and sold shares of TPC. XTX Topco Ltd acquired a new stake in Tutor Perini in the second quarter valued at about $746,000. Acadian Asset Management LLC lifted its holdings in shares of Tutor Perini by 152.0% in the 1st quarter. Acadian Asset Management LLC now owns 292,435 shares of the construction company’s stock valued at $4,227,000 after buying an additional 176,398 shares during the period. Empowered Funds LLC boosted its stake in shares of Tutor Perini by 13.9% in the third quarter. Empowered Funds LLC now owns 268,521 shares of the construction company’s stock valued at $7,293,000 after buying an additional 32,676 shares in the last quarter. Dark Forest Capital Management LP acquired a new position in Tutor Perini during the second quarter worth $482,000. Finally, Caxton Associates LP raised its position in Tutor Perini by 254.0% in the second quarter. Caxton Associates LP now owns 77,466 shares of the construction company’s stock worth $1,687,000 after acquiring an additional 55,583 shares in the last quarter. 65.01% of the stock is currently 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 in the United States and internationally. It operates through three segments: Civil, Building, and Specialty Contractors.