Advisors Asset Management Inc. lessened its holdings in shares of Tutor Perini Co. (NYSE:TPC - Free Report) by 20.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 91,447 shares of the construction company's stock after selling 24,099 shares during the quarter. Advisors Asset Management Inc. owned about 0.17% of Tutor Perini worth $2,213,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TPC. Segall Bryant & Hamill LLC purchased a new stake in Tutor Perini during the 3rd quarter worth about $1,410,000. Intech Investment Management LLC bought a new stake in shares of Tutor Perini during the third quarter valued at about $339,000. Massachusetts Financial Services Co. MA purchased a new stake in shares of Tutor Perini in the third quarter worth about $359,000. Algert Global LLC boosted its position in shares of Tutor Perini by 5.5% in the third quarter. Algert Global LLC now owns 200,414 shares of the construction company's stock valued at $5,443,000 after acquiring an additional 10,402 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in Tutor Perini by 35.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 22,827 shares of the construction company's stock worth $620,000 after acquiring an additional 5,953 shares during the period. Institutional investors own 65.01% of the company's stock.
Tutor Perini Price Performance
Shares of NYSE:TPC traded down $0.61 during trading on Wednesday, reaching $25.07. The company had a trading volume of 380,226 shares, compared to its average volume of 491,404. Tutor Perini Co. has a 12 month low of $13.15 and a 12 month high of $34.55. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $1.32 billion, a P/E ratio of -9.99 and a beta of 1.73. The company has a fifty day moving average of $24.35 and a two-hundred day moving average of $25.68.
Tutor Perini (NYSE:TPC - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The construction company reported ($1.51) earnings per share for the quarter, missing analysts' consensus estimates of $0.29 by ($1.80). The firm had revenue of $1.07 billion for the quarter, compared to analysts' expectations of $1.08 billion. Tutor Perini had a negative net margin of 3.08% and a negative return on equity of 9.56%. During the same quarter in the previous year, the business earned ($0.91) EPS.
Analyst Ratings Changes
A number of research analysts have recently commented on TPC shares. Vertical Research started coverage on shares of Tutor Perini in a research report on Tuesday, December 10th. They set a "buy" rating and a $38.00 price target for the company. B. Riley upgraded Tutor Perini to a "strong-buy" rating in a research report on Tuesday, March 18th. Finally, StockNews.com cut Tutor Perini from a "buy" rating to a "hold" rating in a report on Tuesday, January 28th.
Check Out Our Latest Stock Report on TPC
About Tutor Perini
(
Free Report)
Tutor Perini Corporation, a construction company, provides diversified general contracting, construction management, and design-build services to private customers and public agencies in the United States and internationally. It operates through three segments: Civil, Building, and Specialty Contractors.
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