Falcon Point Capital LLC cut its stake in Tutor Perini Corp (NYSE:TPC) by 30.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,569 shares of the construction company’s stock after selling 17,572 shares during the period. Falcon Point Capital LLC owned 0.08% of Tutor Perini worth $1,003,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Ameriprise Financial Inc. grew its position in shares of Tutor Perini 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 acquiring an additional 75,407 shares during the last quarter. James Investment Research Inc. bought a new position in shares of Tutor Perini during the fourth quarter worth about $1,600,000. Parametrica Management Ltd bought a new position in Tutor Perini in the 3rd quarter valued at about $688,000. SeaCrest Wealth Management LLC bought a new position in Tutor Perini in the 4th quarter valued at about $101,000. Finally, TIAA CREF Investment Management LLC grew its position in Tutor Perini by 8.7% in 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 buying an additional 11,708 shares in the last quarter. 84.71% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Dale Ann Reiss sold 4,829 shares of the stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $27.28, for a total value of $131,735.12. Following the transaction, the director now owns 20,625 shares in the company, valued at $562,650. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder N. Tutor Separate Prope Ronald sold 50,000 shares of the stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $22.26, for a total value of $1,113,000.00. Following the completion of the transaction, the insider now owns 5,748,120 shares in the company, valued at approximately $127,953,151.20. The disclosure for this sale can be found here. 24.50% of the stock is owned by corporate insiders.
A number of equities analysts recently issued reports on TPC shares. ValuEngine upgraded shares of Tutor Perini from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Zacks Investment Research raised shares of Tutor Perini from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a report on Saturday, January 20th. B. Riley cut their price target on shares of Tutor Perini from $40.00 to $36.00 and set a “buy” rating for the company in a report on Wednesday, February 28th. KeyCorp raised shares of Tutor Perini from a “sector weight” rating to an “overweight” rating and set a $28.00 price target for the company in a report on Wednesday, February 28th. They noted that the move was a valuation call. Finally, Canaccord Genuity reissued a “buy” rating and issued a $32.00 price target on shares of Tutor Perini in a report on Friday, February 16th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. Tutor Perini has a consensus rating of “Hold” and an average price target of $30.43.
Shares of Tutor Perini Corp (NYSE TPC) traded down $0.55 on Thursday, hitting $22.80. The stock had a trading volume of 422,478 shares, compared to its average volume of 582,217. The firm has a market cap of $1,142.70, a P/E ratio of 7.78, a price-to-earnings-growth ratio of 1.04 and a beta of 2.06. Tutor Perini Corp has a one year low of $21.15 and a one year high of $32.70. The company has a quick ratio of 1.94, a current ratio of 1.94 and a debt-to-equity ratio of 0.41.
Tutor Perini (NYSE:TPC) last issued its earnings results on Tuesday, February 27th. The construction company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.05. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.37 billion. Tutor Perini had a return on equity of 5.86% and a net margin of 3.12%. equities analysts predict that Tutor Perini Corp will post 2.2 earnings per share for the current year.
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About Tutor Perini
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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