Tutor Perini (NYSE:TPC) Shares Gap Up to $13.55

Tutor Perini Co. (NYSE:TPC)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $13.55, but opened at $13.92. Tutor Perini shares last traded at $13.53, with a volume of 222,736 shares.

Analyst Ratings Changes

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

Tutor Perini Stock Performance

The stock has a fifty day moving average price of $12.08 and a two-hundred day moving average price of $9.57. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.61.

Tutor Perini (NYSE:TPC) last issued its quarterly earnings results on Wednesday, February 28th. The construction company reported ($0.91) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $951.50 million. Equities research analysts anticipate that Tutor Perini Co. will post 0.92 EPS for the current fiscal year.

Insider Activity

In other news, President Gary G. Smalley sold 20,303 shares of Tutor Perini 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 transaction, the president now directly owns 160,507 shares in the company, valued at $1,990,286.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, President Gary G. Smalley sold 20,303 shares of Tutor Perini 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 transaction, the president now directly owns 160,507 shares in the company, valued at $1,990,286.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Gary G. Smalley sold 15,940 shares of Tutor Perini stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $13.28, for a total value of $211,683.20. Following the completion of the transaction, the president now owns 68,346 shares of the company’s stock, valued at $907,634.88. The disclosure for this sale can be found here. Over the last three months, insiders sold 64,201 shares of company stock worth $822,980. 20.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tutor Perini

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TPC. Highlander Capital Management LLC grew its position in Tutor Perini by 85.7% during the fourth quarter. Highlander Capital Management LLC now owns 6,500 shares of the construction company’s stock worth $59,000 after buying an additional 3,000 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in Tutor Perini by 606.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,436 shares of the construction company’s stock worth $68,000 after purchasing an additional 6,383 shares during the last quarter. Schonfeld Strategic Advisors LLC lifted its stake in Tutor Perini by 17.5% during the second quarter. Schonfeld Strategic Advisors LLC now owns 12,100 shares of the construction company’s stock worth $87,000 after purchasing an additional 1,800 shares during the last quarter. Hsbc Holdings PLC bought a new stake in Tutor Perini during the third quarter worth about $91,000. Finally, Captrust Financial Advisors bought a new stake in shares of Tutor Perini in the 2nd quarter valued at about $94,000. 65.01% of the stock is currently 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.