Charles Schwab Investment Management Inc. Has $33.59 Million Stake in Tutor Perini Co. (NYSE:TPC)

Charles Schwab Investment Management Inc. cut its position in Tutor Perini Co. (NYSE:TPC - Free Report) by 23.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,236,687 shares of the construction company's stock after selling 387,984 shares during the period. Charles Schwab Investment Management Inc. owned about 2.36% of Tutor Perini worth $33,588,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in TPC. CWM LLC raised its holdings in shares of Tutor Perini by 142.8% during the second quarter. CWM LLC now owns 1,714 shares of the construction company's stock worth $37,000 after acquiring an additional 1,008 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in shares of Tutor Perini during the second quarter worth $51,000. Plato Investment Management Ltd acquired a new stake in shares of Tutor Perini during the third quarter worth $52,000. nVerses Capital LLC acquired a new stake in shares of Tutor Perini during the second quarter worth $63,000. Finally, Quest Partners LLC raised its holdings in shares of Tutor Perini by 537.2% during the second quarter. Quest Partners LLC now owns 4,148 shares of the construction company's stock worth $90,000 after acquiring an additional 3,497 shares during the period. 65.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Tutor Perini

In other news, Director Raymond R. Oneglia sold 50,000 shares of the firm's stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $28.68, for a total transaction of $1,434,000.00. Following the completion of the sale, the director now owns 250,000 shares in the company, valued at approximately $7,170,000. This trade represents a 16.67 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Ronald N. Tutor sold 125,000 shares of the firm's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $30.72, for a total transaction of $3,840,000.00. Following the sale, the chief executive officer now owns 3,257,313 shares of the company's stock, valued at approximately $100,064,655.36. This represents a 3.70 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 325,000 shares of company stock worth $9,686,000. 19.50% of the stock is owned by insiders.

Tutor Perini Stock Performance

Shares of TPC traded down $0.24 during midday trading on Wednesday, reaching $27.08. The stock had a trading volume of 322,430 shares, compared to its average volume of 447,989. The firm has a 50 day simple moving average of $27.66 and a 200-day simple moving average of $24.10. Tutor Perini Co. has a one year low of $7.83 and a one year high of $34.55. The firm has a market cap of $1.42 billion, a PE ratio of -10.80 and a beta of 1.49. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.53.

Tutor Perini (NYSE:TPC - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The construction company reported ($1.92) EPS for the quarter, missing analysts' consensus estimates of ($1.89) by ($0.03). Tutor Perini had a negative net margin of 3.08% and a negative return on equity of 9.56%. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period last year, the business earned ($0.71) EPS. The business's revenue was up 2.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Tutor Perini Co. will post -1.47 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on TPC shares. B. Riley raised their target price on shares of Tutor Perini from $38.00 to $40.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. UBS Group raised their target price on shares of Tutor Perini from $27.00 to $39.00 and gave the company a "buy" rating in a research report on Wednesday, October 23rd. Finally, StockNews.com downgraded shares of Tutor Perini from a "buy" rating to a "hold" rating in a research report on Friday, November 15th.

About Tutor Perini

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.