Tutor Perini (NYSE:TPC) Updates Q1 Earnings Guidance

Tutor Perini (NYSE:TPC) updated its first quarter earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $0.27-0.32 for the period, compared to the consensus estimate of ($0.17).

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Tutor Perini from a buy rating to a hold rating in a research report on Saturday, March 30th.

Tutor Perini Stock Up 1.0 %

Shares of TPC stock opened at $14.00 on Monday. The stock has a market cap of $728.42 million, a P/E ratio of -4.26 and a beta of 1.62. Tutor Perini has a one year low of $4.90 and a one year high of $16.33. The stock has a fifty day moving average price of $11.89 and a 200 day moving average price of $9.49. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.66 and a quick ratio of 1.66.

Tutor Perini (NYSE:TPC) last issued its earnings results on Wednesday, February 28th. The construction company reported ($0.91) EPS for the quarter, missing the consensus estimate 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 firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $951.50 million. Analysts predict that Tutor Perini will post 0.92 earnings per share for the current year.

Insiders Place Their Bets

In other Tutor Perini news, President Gary G. Smalley sold 27,958 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $12.86, for a total transaction of $359,539.88. Following the completion of the transaction, the president now directly owns 112,245 shares in the company, valued at $1,443,470.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, President Gary G. Smalley sold 20,303 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $12.40, for a total value of $251,757.20. Following the completion of the sale, the president now directly owns 160,507 shares in the company, valued at $1,990,286.80. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, President Gary G. Smalley sold 27,958 shares of the firm’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 owns 112,245 shares of the company’s stock, valued at $1,443,470.70. The disclosure for this sale can be found here. Insiders sold 64,201 shares of company stock worth $822,980 over the last three months. 20.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Tutor Perini

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in Tutor Perini by 6.5% in the second quarter. BlackRock Inc. now owns 5,508,141 shares of the construction company’s stock worth $39,383,000 after purchasing an additional 335,690 shares during the period. Dimensional Fund Advisors LP increased its position in 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 worth $28,716,000 after purchasing an additional 69,285 shares during the period. Vanguard Group Inc. increased its position in Tutor Perini by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 2,308,023 shares of the construction company’s stock worth $21,003,000 after purchasing an additional 60,076 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Tutor Perini by 8.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,773,000 shares of the construction company’s stock worth $10,939,000 after buying an additional 136,700 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in Tutor Perini by 18.6% during the first quarter. AQR Capital Management LLC now owns 1,274,943 shares of the construction company’s stock worth $7,866,000 after buying an additional 199,881 shares during the last quarter. 65.01% of the stock is currently owned by institutional investors and hedge funds.

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.