Sculati Wealth Management LLC Has $5.67 Million Position in Tutor Perini Co. (NYSE:TPC)

Sculati Wealth Management LLC boosted its position in shares of Tutor Perini Co. (NYSE:TPC - Free Report) by 18.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 208,712 shares of the construction company's stock after acquiring an additional 32,589 shares during the period. Tutor Perini accounts for 2.3% of Sculati Wealth Management LLC's investment portfolio, making the stock its 11th biggest holding. Sculati Wealth Management LLC owned approximately 0.40% of Tutor Perini worth $5,669,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of TPC. Geode Capital Management LLC lifted its holdings in shares of Tutor Perini by 3.9% during the third quarter. Geode Capital Management LLC now owns 1,023,198 shares of the construction company's stock worth $27,795,000 after buying an additional 38,458 shares during the last quarter. Barclays PLC increased its position in Tutor Perini by 298.0% during the third quarter. Barclays PLC now owns 69,875 shares of the construction company's stock worth $1,898,000 after acquiring an additional 52,319 shares during the period. Public Employees Retirement System of Ohio raised its stake in Tutor Perini by 71.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 76,149 shares of the construction company's stock valued at $2,068,000 after purchasing an additional 31,772 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Tutor Perini during the 3rd quarter valued at $201,000. Finally, EP Wealth Advisors LLC bought a new stake in Tutor Perini in the 3rd quarter valued at $234,000. 65.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on TPC. StockNews.com downgraded shares of Tutor Perini from a "buy" rating to a "hold" rating in a report on Friday, November 15th. B. Riley boosted their price target on Tutor Perini from $38.00 to $40.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. UBS Group raised their price objective on Tutor Perini from $27.00 to $39.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. Finally, Vertical Research started coverage on Tutor Perini in a research report on Tuesday. They set a "buy" rating and a $38.00 price objective on the stock.

Tutor Perini Price Performance

Shares of Tutor Perini stock traded down $1.11 during trading on Thursday, hitting $26.07. 355,092 shares of the company's stock traded hands, compared to its average volume of 445,680. Tutor Perini Co. has a twelve month low of $7.83 and a twelve month high of $34.55. 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 company has a market cap of $1.37 billion, a PE ratio of -10.47 and a beta of 1.49. The firm's fifty day moving average price is $27.71 and its 200 day moving average price is $24.33.

Tutor Perini (NYSE:TPC - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The construction company reported ($1.92) earnings per share for the quarter, missing analysts' consensus estimates of ($1.89) by ($0.03). The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.17 billion. Tutor Perini had a negative net margin of 3.08% and a negative return on equity of 9.56%. The firm's revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.71) earnings per share. Analysts forecast that Tutor Perini Co. will post -1.47 earnings per share for the current year.

Insider Buying and Selling at Tutor Perini

In other news, Director Raymond R. Oneglia sold 100,000 shares of Tutor Perini stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $28.73, for a total value of $2,873,000.00. Following the completion of the transaction, the director now owns 400,000 shares in the company, valued at approximately $11,492,000. The trade was a 20.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Ronald N. Tutor sold 125,000 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $30.72, for a total value of $3,840,000.00. Following the sale, the chief executive officer now owns 3,257,313 shares in the company, valued at approximately $100,064,655.36. This trade represents a 3.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 325,000 shares of company stock worth $9,686,000 over the last three months. Company insiders own 19.50% of the company's stock.

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.