Tutor Perini (NYSE:TPC) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Tutor Perini (NYSE:TPC) from a hold rating to a buy rating in a research note released on Friday morning.

Tutor Perini Trading Up 27.9 %

Tutor Perini stock opened at $17.77 on Friday. The firm has a 50 day moving average of $12.91 and a 200 day moving average of $9.91. The firm has a market capitalization of $929.02 million, a price-to-earnings ratio of -8.71 and a beta of 1.62. Tutor Perini has a 12-month low of $4.90 and a 12-month high of $17.95. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.61.

Tutor Perini (NYSE:TPC) last released its earnings results on Wednesday, February 28th. The construction company reported ($0.91) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.98). The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $951.50 million. Tutor Perini had a negative return on equity of 7.99% and a negative net margin of 2.56%. As a group, research analysts predict that Tutor Perini will post 0.92 earnings per share for the current year.

Insider Buying and Selling

In other news, President Gary G. Smalley sold 15,940 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $13.28, for a total transaction of $211,683.20. Following the completion of the transaction, the president now directly owns 68,346 shares in the company, valued at approximately $907,634.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, President Gary G. Smalley sold 15,940 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $13.28, for a total transaction of $211,683.20. Following the transaction, the president now owns 68,346 shares in the company, valued at $907,634.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Gary G. Smalley sold 20,303 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $12.40, for a total value of $251,757.20. Following the transaction, the president now owns 160,507 shares in the company, valued at approximately $1,990,286.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 64,201 shares of company stock valued at $822,980. 19.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tutor Perini

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. grew its stake in Tutor Perini by 262.2% in the first quarter. Assenagon Asset Management S.A. now owns 184,461 shares of the construction company’s stock valued at $2,667,000 after purchasing an additional 133,534 shares during the last quarter. Counterpoint Mutual Funds LLC purchased a new position in Tutor Perini in the first quarter valued at about $294,000. Westend Capital Management LLC purchased a new position in Tutor Perini in the first quarter valued at about $234,000. Los Angeles Capital Management LLC grew its stake in Tutor Perini by 77.8% in the first quarter. Los Angeles Capital Management LLC now owns 151,727 shares of the construction company’s stock valued at $2,194,000 after purchasing an additional 66,408 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new position in Tutor Perini in the fourth quarter valued at about $243,000. Hedge funds and other institutional investors own 65.01% of the company’s stock.

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.