Charles Schwab Investment Management Inc. Lowers Stake in Tutor Perini Co. (NYSE:TPC)

Charles Schwab Investment Management Inc. reduced its position in shares of Tutor Perini Co. (NYSE:TPC - Free Report) by 34.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 812,459 shares of the construction company's stock after selling 424,228 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.55% of Tutor Perini worth $19,662,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Geode Capital Management LLC grew its stake in shares of Tutor Perini by 3.9% in the third quarter. Geode Capital Management LLC now owns 1,023,198 shares of the construction company's stock worth $27,795,000 after acquiring an additional 38,458 shares during the period. State Street Corp grew its stake in shares of Tutor Perini by 2.0% in the third quarter. State Street Corp now owns 975,082 shares of the construction company's stock worth $26,483,000 after acquiring an additional 19,518 shares during the period. Jacobs Levy Equity Management Inc. grew its stake in shares of Tutor Perini by 129.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 783,396 shares of the construction company's stock worth $21,277,000 after acquiring an additional 441,858 shares during the period. Hennessy Advisors Inc. grew its stake in shares of Tutor Perini by 6.8% in the fourth quarter. Hennessy Advisors Inc. now owns 682,981 shares of the construction company's stock worth $16,528,000 after acquiring an additional 43,600 shares during the period. Finally, Fred Alger Management LLC bought a new stake in shares of Tutor Perini in the third quarter worth approximately $16,034,000. 65.01% of the stock is currently owned by institutional investors.

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Tutor Perini Stock Performance

Shares of TPC traded down $1.03 on Friday, reaching $24.54. The company's stock had a trading volume of 1,443,911 shares, compared to its average volume of 491,989. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.55 and a quick ratio of 1.55. The stock has a market capitalization of $1.29 billion, a P/E ratio of -9.78 and a beta of 1.73. The stock's 50 day simple moving average is $24.29 and its two-hundred day simple moving average is $25.60. Tutor Perini Co. has a 12-month low of $13.15 and a 12-month high of $34.55.

Tutor Perini (NYSE:TPC - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The construction company reported ($1.51) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.29 by ($1.80). Tutor Perini had a negative return on equity of 9.56% and a negative net margin of 3.08%. The business had revenue of $1.07 billion during the quarter, compared to analysts' expectations of $1.08 billion. During the same period in the previous year, the business posted ($0.91) EPS.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TPC. B. Riley upgraded shares of Tutor Perini to a "strong-buy" rating in a research note on Tuesday, March 18th. Vertical Research started coverage on shares of Tutor Perini in a research note on Tuesday, December 10th. They issued a "buy" rating and a $38.00 price target for the company. Finally, StockNews.com downgraded shares of Tutor Perini from a "buy" rating to a "hold" rating in a report on Tuesday, January 28th.

Tutor Perini Profile

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.