Donald Smith & CO. Inc. Sells 36,601 Shares of Tutor Perini Co. (NYSE:TPC)

Donald Smith & CO. Inc. lessened its stake in Tutor Perini Co. (NYSE:TPC - Free Report) by 1.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,270,438 shares of the construction company's stock after selling 36,601 shares during the period. Tutor Perini accounts for 2.1% of Donald Smith & CO. Inc.'s portfolio, making the stock its 21st biggest holding. Donald Smith & CO. Inc. owned about 6.26% of Tutor Perini worth $88,825,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of TPC. CWM LLC grew its holdings in Tutor Perini by 142.8% during the second quarter. CWM LLC now owns 1,714 shares of the construction company's stock valued at $37,000 after purchasing an additional 1,008 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in shares of Tutor Perini in the 2nd quarter valued at $51,000. nVerses Capital LLC acquired a new stake in shares of Tutor Perini during the second quarter valued at about $63,000. EntryPoint Capital LLC bought a new position in Tutor Perini during the first quarter worth $77,000. Finally, Quest Partners LLC increased its position in Tutor Perini by 537.2% in the 2nd quarter. Quest Partners LLC now owns 4,148 shares of the construction company's stock valued at $90,000 after buying an additional 3,497 shares in the last quarter. 65.01% of the stock is currently owned by institutional investors and hedge funds.

Tutor Perini Stock Performance

Shares of TPC stock traded down $0.04 on Wednesday, hitting $26.54. The company had a trading volume of 235,751 shares, compared to its average volume of 446,674. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 0.50. The firm has a market cap of $1.39 billion, a P/E ratio of -13.05 and a beta of 1.50. The company has a 50-day moving average price of $25.20 and a 200-day moving average price of $22.05. Tutor Perini Co. has a twelve month low of $6.86 and a twelve month high of $30.99.

Tutor Perini (NYSE:TPC - Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The construction company reported $0.02 EPS for the quarter, missing analysts' consensus estimates of $0.17 by ($0.15). Tutor Perini had a negative return on equity of 4.49% and a negative net margin of 1.59%. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period in the prior year, the firm posted ($0.72) earnings per share. The business's quarterly revenue was up 10.4% compared to the same quarter last year. As a group, equities research analysts predict that Tutor Perini Co. will post 1.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

TPC has been the topic of a number of recent research reports. UBS Group increased their price objective on Tutor Perini from $27.00 to $39.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. StockNews.com downgraded shares of Tutor Perini from a "buy" rating to a "hold" rating in a report on Thursday, October 24th.

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.