Parametric Portfolio Associates LLC lowered its position in Tutor Perini Corporation (NYSE:TPC) by 21.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 157,400 shares of the construction company’s stock after selling 42,438 shares during the period. Parametric Portfolio Associates LLC owned 0.32% of Tutor Perini Corporation worth $4,525,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Ameriprise Financial Inc. raised its position in shares of Tutor Perini Corporation by 86.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 162,956 shares of the construction company’s stock worth $4,682,000 after acquiring an additional 75,407 shares in the last quarter. Bank of America Corp DE boosted its stake in Tutor Perini Corporation by 64.7% during the 1st quarter. Bank of America Corp DE now owns 311,710 shares of the construction company’s stock valued at $9,913,000 after purchasing an additional 122,419 shares during the last quarter. First Trust Advisors LP boosted its stake in Tutor Perini Corporation by 3.3% during the 2nd quarter. First Trust Advisors LP now owns 253,480 shares of the construction company’s stock valued at $7,288,000 after purchasing an additional 8,011 shares during the last quarter. TIAA CREF Investment Management LLC boosted its stake in Tutor Perini Corporation by 8.7% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 146,439 shares of the construction company’s stock valued at $4,210,000 after purchasing an additional 11,708 shares during the last quarter. Finally, LSV Asset Management boosted its stake in Tutor Perini Corporation by 14.4% during the 2nd quarter. LSV Asset Management now owns 1,964,456 shares of the construction company’s stock valued at $56,478,000 after purchasing an additional 247,500 shares during the last quarter. 80.44% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages recently commented on TPC. Canaccord Genuity decreased their target price on Tutor Perini Corporation from $35.00 to $32.00 and set a “buy” rating on the stock in a report on Friday. B. Riley reissued a “buy” rating on shares of Tutor Perini Corporation in a report on Wednesday, November 1st. ValuEngine cut Tutor Perini Corporation from a “buy” rating to a “hold” rating in a report on Friday. KeyCorp reissued a “hold” rating on shares of Tutor Perini Corporation in a report on Friday, August 25th. Finally, Zacks Investment Research raised Tutor Perini Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, October 11th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $33.17.
Shares of Tutor Perini Corporation (NYSE:TPC) traded down $1.10 during mid-day trading on Friday, hitting $24.20. The stock had a trading volume of 2,179,500 shares, compared to its average volume of 347,989. The firm has a market capitalization of $1,259.46, a P/E ratio of 13.11, a PEG ratio of 1.14 and a beta of 2.39. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.07 and a current ratio of 2.07. Tutor Perini Corporation has a 1-year low of $22.60 and a 1-year high of $33.00.
Tutor Perini Corporation (NYSE:TPC) last announced its quarterly earnings data on Thursday, November 9th. The construction company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.22). Tutor Perini Corporation had a net margin of 2.03% and a return on equity of 6.22%. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.54 billion. During the same period last year, the firm earned $0.57 earnings per share. Tutor Perini Corporation’s quarterly revenue was down 10.0% compared to the same quarter last year. sell-side analysts forecast that Tutor Perini Corporation will post 2.22 earnings per share for the current year.
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In other news, major shareholder N. Tutor Separate Prope Ronald sold 25,000 shares of the firm’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $26.11, for a total value of $652,750.00. Following the sale, the insider now directly owns 5,923,120 shares in the company, valued at approximately $154,652,663.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ronald N. Tutor sold 75,000 shares of the firm’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $26.09, for a total transaction of $1,956,750.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 175,000 shares of company stock valued at $4,566,711. 24.50% of the stock is owned by insiders.
Tutor Perini Corporation 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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