California State Teachers Retirement System Has $1.91 Million Stake in Tutor Perini Corporation (TPC)

California State Teachers Retirement System cut its stake in shares of Tutor Perini Corporation (NYSE:TPC) by 11.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 66,245 shares of the construction company’s stock after selling 8,155 shares during the quarter. California State Teachers Retirement System owned approximately 0.13% of Tutor Perini Corporation worth $1,905,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Ameriprise Financial Inc. grew its position in shares of Tutor Perini Corporation by 86.1% during the second quarter. Ameriprise Financial Inc. now owns 162,956 shares of the construction company’s stock worth $4,682,000 after buying an additional 75,407 shares in the last quarter. Bank of America Corp DE grew its position in shares of Tutor Perini Corporation by 64.7% during the first quarter. Bank of America Corp DE now owns 311,710 shares of the construction company’s stock worth $9,913,000 after buying an additional 122,419 shares in the last quarter. First Trust Advisors LP grew its position in shares of Tutor Perini Corporation by 3.3% during the second quarter. First Trust Advisors LP now owns 253,480 shares of the construction company’s stock worth $7,288,000 after buying an additional 8,011 shares in the last quarter. TIAA CREF Investment Management LLC grew its position in shares of Tutor Perini Corporation by 8.7% during the second quarter. TIAA CREF Investment Management LLC now owns 146,439 shares of the construction company’s stock worth $4,210,000 after buying an additional 11,708 shares in the last quarter. Finally, LSV Asset Management grew its position in shares of Tutor Perini Corporation by 14.4% during the second quarter. LSV Asset Management now owns 1,964,456 shares of the construction company’s stock worth $56,478,000 after buying an additional 247,500 shares in the last quarter. 81.53% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts recently issued reports on the company. Canaccord Genuity lowered their price target on Tutor Perini Corporation from $35.00 to $32.00 and set a “buy” rating for the company in a report on Friday, November 10th. B. Riley reaffirmed a “buy” rating on shares of Tutor Perini Corporation in a report on Wednesday, November 1st. lowered their price target on Tutor Perini Corporation from $37.00 to $35.00 and set a “buy” rating for the company in a report on Wednesday. ValuEngine downgraded Tutor Perini Corporation from a “buy” rating to a “hold” rating in a report on Friday, November 10th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Tutor Perini Corporation in a report on Friday, August 25th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $33.63.

In other news, CEO Ronald N. Tutor sold 3,617 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $26.02, for a total transaction of $94,114.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ronald N. Tutor sold 75,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $26.09, for a total value of $1,956,750.00. The disclosure for this sale can be found here. Insiders sold 175,000 shares of company stock valued at $4,566,711 over the last three months. Corporate insiders own 24.50% of the company’s stock.

Shares of Tutor Perini Corporation (NYSE TPC) opened at $23.10 on Thursday. The firm has a market capitalization of $1,187.28, a P/E ratio of 12.36, a PEG ratio of 1.31 and a beta of 2.39. Tutor Perini Corporation has a fifty-two week low of $22.60 and a fifty-two week high of $33.00. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.52.

Tutor Perini Corporation (NYSE:TPC) last posted its quarterly earnings data on Thursday, November 9th. The construction company reported $0.47 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by ($0.22). The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.54 billion. Tutor Perini Corporation had a net margin of 2.03% and a return on equity of 6.16%. Tutor Perini Corporation’s revenue was down 10.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.57 earnings per share. sell-side analysts predict that Tutor Perini Corporation will post 1.82 EPS for the current fiscal year.

TRADEMARK VIOLATION NOTICE: This article was originally published by Markets Daily and is owned by of Markets Daily. If you are viewing this article on another domain, it was copied illegally and republished in violation of international trademark & copyright legislation. The original version of this article can be accessed at https://www.themarketsdaily.com/2017/11/16/california-state-teachers-retirement-system-has-1-91-million-stake-in-tutor-perini-corporation-tpc.html.

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.

Want to see what other hedge funds are holding TPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tutor Perini Corporation (NYSE:TPC).

Institutional Ownership by Quarter for Tutor Perini Corporation (NYSE:TPC)

Receive News & Ratings for Tutor Perini Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tutor Perini Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply