Prudential Financial Inc. Sells 287,400 Shares of Tutor Perini Co. (NYSE:TPC)

Prudential Financial Inc. lowered its stake in shares of Tutor Perini Co. (NYSE:TPC - Free Report) by 69.8% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 124,158 shares of the construction company's stock after selling 287,400 shares during the period. Prudential Financial Inc. owned approximately 0.24% of Tutor Perini worth $3,005,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. FMR LLC increased its stake in Tutor Perini by 103.1% during the third quarter. FMR LLC now owns 4,725 shares of the construction company's stock valued at $128,000 after acquiring an additional 2,399 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in shares of Tutor Perini during the third quarter valued at approximately $201,000. EP Wealth Advisors LLC acquired a new position in shares of Tutor Perini in the third quarter valued at $234,000. KLP Kapitalforvaltning AS bought a new position in Tutor Perini in the fourth quarter worth $232,000. Finally, Commonwealth Equity Services LLC lifted its position in Tutor Perini by 7.3% in the fourth 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 period. Institutional investors own 65.01% of the company's stock.

Tutor Perini Price Performance

Shares of NYSE TPC traded down $0.36 during midday trading on Monday, reaching $20.03. 953,671 shares of the company traded hands, compared to its average volume of 519,996. Tutor Perini Co. has a 12 month low of $13.15 and a 12 month high of $34.55. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.55 and a current ratio of 1.55. The stock's 50-day simple moving average is $23.91 and its 200-day simple moving average is $25.62. The firm has a market cap of $1.05 billion, a PE ratio of -7.98 and a beta of 1.47.

Remove Ads

Tutor Perini (NYSE:TPC - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The construction company reported ($1.51) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($1.80). The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate 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 period in the prior year, the business earned ($0.91) earnings per share.

Wall Street Analysts Forecast Growth

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

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.