Tutor Perini (NYSE:TPC) Rating Increased to Buy at UBS Group

UBS Group upgraded shares of Tutor Perini (NYSE:TPC) from a neutral rating to a buy rating in a research note released on Friday, Marketbeat reports. They currently have $27.00 price target on the construction company’s stock, up from their prior price target of $14.00.

Separately, StockNews.com raised Tutor Perini from a hold rating to a buy rating in a report on Friday, April 26th.

Tutor Perini Stock Up 2.3 %

Shares of NYSE TPC opened at $21.20 on Friday. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of -10.39 and a beta of 1.50. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.70 and a quick ratio of 1.70. The business has a 50-day moving average of $18.14 and a two-hundred day moving average of $12.95. Tutor Perini has a 1 year low of $6.31 and a 1 year high of $23.19.

Tutor Perini (NYSE:TPC) last announced its quarterly earnings results on Thursday, April 25th. The construction company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.48. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $919.60 million. Tutor Perini had a negative return on equity of 8.03% and a negative net margin of 2.56%. On average, analysts forecast that Tutor Perini will post 1.1 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Ronald N. Tutor sold 25,000 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $19.40, for a total value of $485,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,387,267 shares of the company’s stock, valued at approximately $46,312,979.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Tutor Perini news, CEO Ronald N. Tutor sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $19.40, for a total transaction of $485,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,387,267 shares of the company’s stock, valued at approximately $46,312,979.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Ghassan Ariqat sold 11,855 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $19.62, for a total value of $232,595.10. The disclosure for this sale can be found here. In the last three months, insiders sold 259,668 shares of company stock valued at $5,081,901. Insiders own 19.50% of the company’s stock.

Institutional Trading of Tutor Perini

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new position in Tutor Perini during the 4th quarter worth approximately $6,467,000. Donald Smith & CO. Inc. increased its position in Tutor Perini by 20.4% during the 4th quarter. Donald Smith & CO. Inc. now owns 3,899,899 shares of the construction company’s stock worth $35,489,000 after purchasing an additional 659,657 shares during the period. Acadian Asset Management LLC increased its position in Tutor Perini by 152.0% during the 1st quarter. Acadian Asset Management LLC now owns 292,435 shares of the construction company’s stock worth $4,227,000 after purchasing an additional 176,398 shares during the period. Brandywine Global Investment Management LLC increased its position in Tutor Perini by 690.1% during the 3rd quarter. Brandywine Global Investment Management LLC now owns 157,778 shares of the construction company’s stock worth $1,235,000 after purchasing an additional 137,808 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in Tutor Perini by 262.2% during the 1st quarter. Assenagon Asset Management S.A. now owns 184,461 shares of the construction company’s stock worth $2,667,000 after purchasing an additional 133,534 shares during the period. 65.01% 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 in the United States and internationally. It operates through three segments: Civil, Building, and Specialty Contractors.