Invesco Ltd. Sells 342,683 Shares of Tutor Perini Co. (NYSE:TPC)

Invesco Ltd. lowered its holdings in shares of Tutor Perini Co. (NYSE:TPC - Free Report) by 37.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 578,587 shares of the construction company's stock after selling 342,683 shares during the period. Invesco Ltd. owned about 1.10% of Tutor Perini worth $14,002,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of TPC. Commonwealth Equity Services LLC raised its position in Tutor Perini by 7.3% during the 4th quarter. Commonwealth Equity Services LLC now owns 10,291 shares of the construction company's stock worth $249,000 after purchasing an additional 700 shares during the last quarter. FMR LLC increased its stake in shares of Tutor Perini by 103.1% in the third quarter. FMR LLC now owns 4,725 shares of the construction company's stock valued at $128,000 after buying an additional 2,399 shares during the period. Envestnet Asset Management Inc. raised its position in shares of Tutor Perini by 46.8% during the fourth quarter. Envestnet Asset Management Inc. now owns 14,581 shares of the construction company's stock worth $353,000 after acquiring an additional 4,649 shares during the last quarter. Wells Fargo & Company MN lifted its stake in shares of Tutor Perini by 11.7% in the fourth quarter. Wells Fargo & Company MN now owns 52,960 shares of the construction company's stock worth $1,282,000 after acquiring an additional 5,533 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in Tutor Perini by 10.4% in the fourth quarter. Franklin Resources Inc. now owns 88,216 shares of the construction company's stock valued at $2,135,000 after acquiring an additional 8,309 shares during the last quarter. Institutional investors and hedge funds own 65.01% of the company's stock.

Tutor Perini Trading Up 2.8 %

TPC stock traded up $0.60 during mid-day trading on Friday, reaching $21.85. The company's stock had a trading volume of 181,672 shares, compared to its average volume of 534,135. The company has a market cap of $1.15 billion, a price-to-earnings ratio of -8.70 and a beta of 1.47. Tutor Perini Co. has a 12 month low of $13.56 and a 12 month high of $34.55. The business's 50 day moving average price is $23.21 and its 200 day moving average price is $25.07. 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 released its earnings results 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 net margin of 3.08% and a negative return on equity of 9.56%. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the previous year, the firm earned ($0.91) EPS.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. StockNews.com lowered shares of Tutor Perini from a "buy" rating to a "hold" rating in a report on Tuesday, January 28th. B. Riley raised shares of Tutor Perini to a "strong-buy" rating in a research note on Tuesday, March 18th.

Tutor Perini Company 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.