Tutor Perini Corporation (TPC) Upgraded to “Hold” by Zacks Investment Research
Zacks Investment Research upgraded shares of Tutor Perini Corporation (NYSE:TPC) from a sell rating to a hold rating in a report released on Wednesday.
According to Zacks, “Tutor Perini Corporation provides diversified general contracting, construction management and design-build services to private clients and public agencies worldwide. The company operates in four segments: Civil, Building, Specialty Contractors, and Management Services. The Civil segment engages in public works construction activities and the repair, replacement, and reconstruction of infrastructure. The Building segment offers services in specialized building markets, including hospitality and gaming, transportation, healthcare, municipal offices, sports and entertainment, education, correctional facilities, biotech, pharmaceutical, industrial, and high technology. The Specialty Contractors segment provides plumbing, HVAC, electrical, mechanical, and concrete services for the industrial, commercial, hospitality and gaming, and transportation markets. The Management Services segment offers construction and design-build services to the U.S. military and government agencies, and multi-national corporations. “
A number of other equities research analysts have also recently commented on the stock. BidaskClub cut shares of Tutor Perini Corporation from a hold rating to a sell rating in a research note on Wednesday, July 19th. KeyCorp restated a hold rating on shares of Tutor Perini Corporation in a research note on Friday, August 25th. Canaccord Genuity reaffirmed a buy rating on shares of Tutor Perini Corporation in a report on Friday, June 23rd. Finally, Seaport Global Securities lowered shares of Tutor Perini Corporation from a buy rating to a neutral rating and set a $31.00 price objective for the company. in a report on Wednesday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $32.00.
Shares of Tutor Perini Corporation (NYSE TPC) traded up 0.625% during trading on Wednesday, reaching $28.175. 217,823 shares of the company traded hands. The company’s 50-day moving average price is $27.00 and its 200-day moving average price is $27.83. Tutor Perini Corporation has a 52 week low of $18.05 and a 52 week high of $33.00. The company has a market capitalization of $1.40 billion, a P/E ratio of 13.852 and a beta of 2.45.
Tutor Perini Corporation (NYSE:TPC) last released its earnings results on Monday, August 7th. The construction company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. Tutor Perini Corporation had a net margin of 2.08% and a return on equity of 6.60%. The company had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter last year, the business earned $0.43 EPS. The firm’s revenue was down 4.7% compared to the same quarter last year. Equities research analysts forecast that Tutor Perini Corporation will post $2.26 EPS for the current fiscal year.
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In other Tutor Perini Corporation news, CEO Ronald N. Tutor sold 75,000 shares of the stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $26.09, for a total transaction of $1,956,750.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ronald N. Tutor sold 3,617 shares of the stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $26.02, for a total transaction of $94,114.34. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 175,000 shares of company stock valued at $4,566,711. 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. Principal Financial Group Inc. grew its holdings in Tutor Perini Corporation by 4,205.8% during the 2nd quarter. Principal Financial Group Inc. now owns 384,639 shares of the construction company’s stock valued at $11,058,000 after buying an additional 375,706 shares in the last quarter. Northern Trust Corp grew its holdings in Tutor Perini Corporation by 59.9% during the 2nd quarter. Northern Trust Corp now owns 764,431 shares of the construction company’s stock valued at $21,978,000 after buying an additional 286,310 shares in the last quarter. LSV Asset Management grew its holdings in Tutor Perini Corporation by 14.4% during the 2nd quarter. LSV Asset Management now owns 1,964,456 shares of the construction company’s stock valued at $56,478,000 after buying an additional 247,500 shares in the last quarter. Vanguard Group Inc. grew its holdings in Tutor Perini Corporation by 7.6% during the 1st quarter. Vanguard Group Inc. now owns 3,236,399 shares of the construction company’s stock valued at $102,918,000 after buying an additional 229,127 shares in the last quarter. Finally, Boston Partners grew its holdings in Tutor Perini Corporation by 13.4% during the 2nd quarter. Boston Partners now owns 1,717,633 shares of the construction company’s stock valued at $49,382,000 after buying an additional 203,488 shares in the last quarter. 81.11% of the stock is owned by institutional investors and hedge funds.
Tutor Perini Corporation Company Profile
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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