Tutor Perini (NYSE:TPC) Shares Gap Up to $21.95

Tutor Perini Co. (NYSE:TPC) shares gapped up prior to trading on Friday . The stock had previously closed at $21.95, but opened at $22.57. Tutor Perini shares last traded at $22.58, with a volume of 88,324 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on TPC shares. StockNews.com upgraded shares of Tutor Perini from a “hold” rating to a “buy” rating in a report on Friday, April 26th. UBS Group raised Tutor Perini from a “neutral” rating to a “buy” rating and boosted their target price for the company from $14.00 to $27.00 in a research note on Friday, June 14th.

Tutor Perini Stock Up 1.7 %

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’s 50-day simple moving average is $19.52 and its 200 day simple moving average is $13.72.

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

Insider Activity at Tutor Perini

In other news, CEO Ronald N. Tutor sold 25,718 shares of the company’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $20.66, for a total value of $531,333.88. Following the completion of the transaction, the chief executive officer now owns 3,411,222 shares of the company’s stock, valued at $70,475,846.52. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Tutor Perini news, Director Michael R. Klein sold 181,155 shares of Tutor Perini stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $19.99, for a total value of $3,621,288.45. Following the sale, the director now directly owns 208,976 shares in the company, valued at approximately $4,177,430.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Ronald N. Tutor sold 25,718 shares of the stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $20.66, for a total transaction of $531,333.88. Following the transaction, the chief executive officer now directly owns 3,411,222 shares of the company’s stock, valued at approximately $70,475,846.52. The disclosure for this sale can be found here. In the last quarter, insiders have sold 243,728 shares of company stock worth $4,870,217. 19.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Donald Smith & CO. Inc. increased its position in shares of Tutor Perini by 3.9% during the 1st quarter. Donald Smith & CO. Inc. now owns 4,052,678 shares of the construction company’s stock valued at $58,602,000 after purchasing an additional 152,779 shares during the last quarter. Vanguard Group Inc. grew its holdings in Tutor Perini by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 2,333,269 shares of the construction company’s stock valued at $33,739,000 after purchasing an additional 25,246 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Tutor Perini by 2.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,085,769 shares of the construction company’s stock worth $18,981,000 after purchasing an additional 55,823 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Tutor Perini by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,992,319 shares of the construction company’s stock valued at $18,130,000 after buying an additional 53,927 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd bought a new position in shares of Tutor Perini during the fourth quarter valued at approximately $6,467,000. 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.