Teacher Retirement System of Texas Reduces Stake in Tutor Perini Co. (NYSE:TPC)

Teacher Retirement System of Texas lowered its holdings in Tutor Perini Co. (NYSE:TPC - Free Report) by 53.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,284 shares of the construction company's stock after selling 40,820 shares during the quarter. Teacher Retirement System of Texas owned 0.07% of Tutor Perini worth $854,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Intech Investment Management LLC purchased a new stake in Tutor Perini in the 3rd quarter valued at about $339,000. The Manufacturers Life Insurance Company raised its stake in shares of Tutor Perini by 35.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 22,827 shares of the construction company's stock valued at $620,000 after acquiring an additional 5,953 shares during the period. Quantbot Technologies LP lifted its holdings in shares of Tutor Perini by 88.9% in the 3rd quarter. Quantbot Technologies LP now owns 20,597 shares of the construction company's stock worth $559,000 after acquiring an additional 9,691 shares during the last quarter. FMR LLC boosted its position in shares of Tutor Perini by 103.1% during the 3rd quarter. FMR LLC now owns 4,725 shares of the construction company's stock worth $128,000 after purchasing an additional 2,399 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Tutor Perini by 7.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 60,331 shares of the construction company's stock valued at $1,639,000 after purchasing an additional 4,070 shares during the last quarter. Institutional investors and hedge funds own 65.01% of the company's stock.

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Tutor Perini Stock Up 1.7 %

TPC stock traded up $0.39 during mid-day trading on Wednesday, reaching $23.57. The company had a trading volume of 313,444 shares, compared to its average volume of 518,512. The firm has a fifty day simple moving average of $24.21 and a 200 day simple moving average of $25.70. 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 company has a market capitalization of $1.24 billion, a price-to-earnings ratio of -9.39 and a beta of 1.47. Tutor Perini Co. has a fifty-two week low of $13.15 and a fifty-two week high of $34.55.

Tutor Perini (NYSE:TPC - Get Free Report) last issued its earnings results on Thursday, February 27th. The construction company reported ($1.51) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same period last year, the business earned ($0.91) EPS.

Analysts Set New Price Targets

TPC has been the subject of a number of research analyst reports. B. Riley upgraded Tutor Perini to a "strong-buy" rating in a report on Tuesday, March 18th. Vertical Research assumed coverage on shares of Tutor Perini in a research note on Tuesday, December 10th. They set a "buy" rating and a $38.00 target price on the stock. Finally, StockNews.com cut shares of Tutor Perini from a "buy" rating to a "hold" rating in a research 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.