Tutor Perini Corporation (NYSE:TPC) Rating Lowered to Hold at Zacks Investment Research
Tutor Perini Corporation (NYSE:TPC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday, July 6th.
According to Zacks, “Tutor Perini Corporation provides diversified general contracting, construction management and design-build services to private clients and public agencies worldwide. The company operates in four segments: Civil, Building, Specialty Contractors, and Management Services. The Civil segment engages in public works construction activities and the repair, replacement, and reconstruction of infrastructure. The Building segment offers services in specialized building markets, including hospitality and gaming, transportation, healthcare, municipal offices, sports and entertainment, education, correctional facilities, biotech, pharmaceutical, industrial, and high technology. The Specialty Contractors segment provides plumbing, HVAC, electrical, mechanical, and concrete services for the industrial, commercial, hospitality and gaming, and transportation markets. The Management Services segment offers construction and design-build services to the U.S. military and government agencies, and multi-national corporations. “
Several other equities analysts have also weighed in on TPC. BidaskClub upgraded shares of Tutor Perini Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, July 6th. Canaccord Genuity reaffirmed a “buy” rating on shares of Tutor Perini Corporation in a report on Friday, June 23rd. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $31.29.
Tutor Perini Corporation (TPC) traded down 0.52% during trading on Thursday, reaching $28.65. The company had a trading volume of 212,096 shares. Tutor Perini Corporation has a 12-month low of $18.05 and a 12-month high of $33.00. The firm has a 50-day moving average price of $26.72 and a 200 day moving average price of $28.97. The stock has a market cap of $1.42 billion, a P/E ratio of 15.24 and a beta of 2.44.
A number of institutional investors have recently made changes to their positions in the stock. Boston Partners raised its position in shares of Tutor Perini Corporation by 35.2% in the first quarter. Boston Partners now owns 1,514,145 shares of the construction company’s stock valued at $48,150,000 after buying an additional 394,148 shares in the last quarter. Cortina Asset Management LLC boosted its position in Tutor Perini Corporation by 152.4% in the first quarter. Cortina Asset Management LLC now owns 609,291 shares of the construction company’s stock worth $19,375,000 after buying an additional 367,904 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in Tutor Perini Corporation by 3,626.1% in the first quarter. Daiwa Securities Group Inc. now owns 257,100 shares of the construction company’s stock worth $8,176,000 after buying an additional 250,200 shares during the last quarter. Opus Capital Group LLC bought a new position in Tutor Perini Corporation during the first quarter worth $7,619,000. Finally, Vanguard Group Inc. boosted its position in Tutor Perini Corporation by 7.6% in the first quarter. Vanguard Group Inc. now owns 3,236,399 shares of the construction company’s stock worth $102,918,000 after buying an additional 229,127 shares during the last quarter. 80.72% of the stock is owned by institutional investors and hedge funds.
Tutor Perini Corporation Company Profile
Tutor Perini Corporation is a construction company offering general contracting, construction management and design-build services to private customers and public agencies across the world. The Company operates through three segments: Civil, Building and Specialty Contractors. Its Civil segment specializes in public works construction and the repair, replacement and reconstruction of infrastructure across various geographic regions of the United States.
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