Hotchkis & Wiley Capital Management LLC Sells 136,810 Shares of Tutor Perini Co. (NYSE:TPC)

Hotchkis & Wiley Capital Management LLC lowered its stake in Tutor Perini Co. (NYSE:TPC - Free Report) by 32.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 285,749 shares of the construction company's stock after selling 136,810 shares during the period. Hotchkis & Wiley Capital Management LLC owned approximately 0.54% of Tutor Perini worth $7,761,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of TPC. Fred Alger Management LLC purchased a new stake in shares of Tutor Perini during the third quarter valued at $16,034,000. Hennessy Advisors Inc. purchased a new stake in shares of Tutor Perini in the second quarter valued at $12,362,000. American Century Companies Inc. boosted its position in shares of Tutor Perini by 59.9% in the second quarter. American Century Companies Inc. now owns 759,665 shares of the construction company's stock worth $16,546,000 after buying an additional 284,627 shares during the period. Acadian Asset Management LLC grew its holdings in shares of Tutor Perini by 84.4% during the second quarter. Acadian Asset Management LLC now owns 539,336 shares of the construction company's stock valued at $11,742,000 after buying an additional 246,901 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Tutor Perini by 9.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,399,544 shares of the construction company's stock valued at $52,263,000 after buying an additional 198,348 shares during the period. Institutional investors and hedge funds own 65.01% of the company's stock.

Tutor Perini Stock Down 0.2 %

TPC stock traded down $0.06 during mid-day trading on Thursday, hitting $27.02. The stock had a trading volume of 447,185 shares, compared to its average volume of 447,992. Tutor Perini Co. has a 1-year low of $7.83 and a 1-year high of $34.55. The company has a fifty day moving average of $27.69 and a 200 day moving average of $24.12. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of -10.87 and a beta of 1.49.

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

Insider Activity at Tutor Perini

In other news, Director Raymond R. Oneglia sold 50,000 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $28.68, for a total transaction of $1,434,000.00. Following the transaction, the director now owns 250,000 shares of the company's stock, valued at approximately $7,170,000. This represents a 16.67 % decrease in their position. The sale 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 business's 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 completion of the sale, the chief executive officer now owns 3,257,313 shares of the company's stock, 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. In the last 90 days, insiders sold 325,000 shares of company stock valued at $9,686,000. Insiders own 19.50% of the company's stock.

Wall Street Analysts Forecast Growth

TPC has been the topic of several research analyst reports. UBS Group lifted their target price on Tutor Perini from $27.00 to $39.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. StockNews.com downgraded shares of Tutor Perini from a "buy" rating to a "hold" rating in a research report on Friday, November 15th. Finally, B. Riley increased their target price on shares of Tutor Perini from $38.00 to $40.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th.

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.