American Century Companies Inc. decreased its position in Tutor Perini Corporation (NYSE:TPC) by 52.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 98,767 shares of the construction company’s stock after selling 108,611 shares during the quarter. American Century Companies Inc. owned about 0.20% of Tutor Perini worth $2,805,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently made changes to their positions in TPC. Victory Capital Management Inc. grew its stake in shares of Tutor Perini by 119.4% in the 3rd quarter. Victory Capital Management Inc. now owns 6,877 shares of the construction company’s stock valued at $195,000 after buying an additional 3,743 shares in the last quarter. BNP Paribas Arbitrage SA lifted its holdings in Tutor Perini by 239.8% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 8,112 shares of the construction company’s stock worth $233,000 after purchasing an additional 5,725 shares during the last quarter. Frontier Wealth Management LLC acquired a new stake in Tutor Perini in the 2nd quarter worth approximately $292,000. Aperio Group LLC lifted its holdings in Tutor Perini by 7.1% in the 2nd quarter. Aperio Group LLC now owns 10,722 shares of the construction company’s stock worth $308,000 after purchasing an additional 715 shares during the last quarter. Finally, IndexIQ Advisors LLC acquired a new stake in Tutor Perini in the 2nd quarter worth approximately $428,000. 81.78% of the stock is owned by institutional investors and hedge funds.
In other Tutor Perini news, CEO Ronald N. Tutor sold 3,617 shares of the firm’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 value of $94,114.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder N. Tutor Separate Prope Ronald sold 71,383 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $26.10, for a total value of $1,863,096.30. Following the completion of the transaction, the insider now owns 5,919,503 shares of the company’s stock, valued at $154,499,028.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 175,000 shares of company stock valued at $4,543,211. 24.50% of the stock is owned by corporate insiders.
A number of research analysts have recently commented on the company. Zacks Investment Research lowered Tutor Perini from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. KeyCorp restated a “hold” rating on shares of Tutor Perini in a research report on Friday, August 25th. ValuEngine cut Tutor Perini from a “buy” rating to a “hold” rating in a research report on Friday, November 10th. Canaccord Genuity reiterated a “buy” rating and issued a $35.00 price target on shares of Tutor Perini in a research report on Saturday, August 26th. Finally, B. Riley lowered their price target on Tutor Perini from $37.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday, November 14th. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $33.63.
Shares of Tutor Perini Corporation (NYSE:TPC) traded down $0.45 on Wednesday, hitting $25.55. The stock had a trading volume of 616,300 shares, compared to its average volume of 357,301. Tutor Perini Corporation has a twelve month low of $22.60 and a twelve month 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. The firm has a market capitalization of $1,294.31, a price-to-earnings ratio of 13.47, a PEG ratio of 1.42 and a beta of 2.36.
Tutor Perini (NYSE:TPC) last released its earnings results on Thursday, November 9th. The construction company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.22). The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.54 billion. Tutor Perini had a net margin of 2.03% and a return on equity of 6.16%. The company’s quarterly 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 EPS. equities analysts predict that Tutor Perini Corporation will post 1.83 EPS for the current fiscal year.
Tutor Perini 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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