Hillcrest Asset Management LLC decreased its position in shares of Tutor Perini Corporation (NYSE:TPC) by 2.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 381,675 shares of the construction company’s stock after selling 9,455 shares during the period. Tutor Perini Corporation accounts for approximately 2.0% of Hillcrest Asset Management LLC’s portfolio, making the stock its 19th biggest position. Hillcrest Asset Management LLC owned about 0.77% of Tutor Perini Corporation worth $10,840,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. UBS Asset Management Americas Inc. raised its holdings in Tutor Perini Corporation by 127.5% during the first quarter. UBS Asset Management Americas Inc. now owns 19,333 shares of the construction company’s stock valued at $615,000 after buying an additional 10,834 shares in the last quarter. OppenheimerFunds Inc. bought a new position in Tutor Perini Corporation during the first quarter valued at about $310,000. Teachers Advisors LLC raised its holdings in Tutor Perini Corporation by 2.8% during the first quarter. Teachers Advisors LLC now owns 66,764 shares of the construction company’s stock valued at $2,123,000 after buying an additional 1,798 shares in the last quarter. Vanguard Group Inc. raised its holdings in Tutor Perini Corporation by 7.6% during the first quarter. Vanguard Group Inc. now owns 3,236,399 shares of the construction company’s stock valued at $102,918,000 after buying an additional 229,127 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Tutor Perini Corporation by 7.7% during the first quarter. Geode Capital Management LLC now owns 299,980 shares of the construction company’s stock valued at $9,539,000 after buying an additional 21,542 shares in the last quarter. 81.53% of the stock is owned by hedge funds and other institutional investors.
Several research firms have weighed in on TPC. Zacks Investment Research upgraded Tutor Perini Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, October 11th. Seaport Global Securities lowered Tutor Perini Corporation from a “buy” rating to a “neutral” rating and cut their target price for the company from $40.00 to $31.00 in a report on Wednesday, October 11th. BidaskClub lowered Tutor Perini Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. B. Riley restated a “buy” rating on shares of Tutor Perini Corporation in a report on Wednesday, November 1st. Finally, Canaccord Genuity restated a “buy” rating and set a $35.00 target price on shares of Tutor Perini Corporation in a report on Saturday, August 26th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. Tutor Perini Corporation has a consensus rating of “Buy” and a consensus price target of $33.17.
In related news, CEO Ronald N. Tutor sold 3,617 shares of the business’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $26.02, for a total transaction of $94,114.34. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder N. Tutor Separate Prope Ronald sold 25,000 shares of the business’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $26.11, for a total value of $652,750.00. Following the transaction, the insider now owns 5,923,120 shares in the company, valued at $154,652,663.20. The disclosure for this sale can be found here. Insiders sold 175,000 shares of company stock worth $4,566,711 over the last quarter. 24.50% of the stock is currently owned by corporate insiders.
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Tutor Perini Corporation (NYSE:TPC) traded up $0.40 during trading on Monday, hitting $24.60. The stock had a trading volume of 462,830 shares, compared to its average volume of 347,989. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $1,220.00, a price-to-earnings ratio of 12.54, a PEG ratio of 1.33 and a beta of 2.39. Tutor Perini Corporation has a twelve month low of $22.60 and a twelve month high of $33.00.
Tutor Perini Corporation (NYSE:TPC) last posted its quarterly earnings data on Thursday, November 9th. The construction company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.22). The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.54 billion. Tutor Perini Corporation had a return on equity of 6.22% and a net margin of 2.03%. The company’s revenue for the quarter was down 10.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.57 earnings per share. analysts predict that Tutor Perini Corporation will post 1.83 earnings per share for the current year.
About Tutor Perini Corporation
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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