Nierenberg Investment Management Company Inc. Sells 25,000 Shares of Tutor Perini Co. (NYSE:TPC)

Nierenberg Investment Management Company Inc. cut its holdings in Tutor Perini Co. (NYSE:TPC - Free Report) by 27.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 66,680 shares of the construction company's stock after selling 25,000 shares during the quarter. Tutor Perini comprises 0.9% of Nierenberg Investment Management Company Inc.'s holdings, making the stock its 16th biggest position. Nierenberg Investment Management Company Inc. owned approximately 0.13% of Tutor Perini worth $1,614,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. FMR LLC raised its stake in shares of Tutor Perini by 103.1% in the 3rd quarter. FMR LLC now owns 4,725 shares of the construction company's stock valued at $128,000 after purchasing an additional 2,399 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in Tutor Perini in the 3rd quarter valued at approximately $201,000. KLP Kapitalforvaltning AS acquired a new stake in Tutor Perini in the 4th quarter valued at approximately $232,000. EP Wealth Advisors LLC bought a new stake in Tutor Perini in the 3rd quarter valued at approximately $234,000. Finally, Commonwealth Equity Services LLC boosted its position in Tutor Perini by 7.3% during the 4th quarter. Commonwealth Equity Services LLC now owns 10,291 shares of the construction company's stock worth $249,000 after acquiring an additional 700 shares during the last quarter. 65.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on TPC shares. StockNews.com downgraded shares of Tutor Perini from a "buy" rating to a "hold" rating in a report on Tuesday, January 28th. B. Riley upgraded shares of Tutor Perini to a "strong-buy" rating in a research note on Tuesday, March 18th.

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Tutor Perini Stock Up 0.5 %

Shares of NYSE:TPC traded up $0.10 during trading on Friday, hitting $20.88. 514,593 shares of the company were exchanged, compared to its average volume of 523,169. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of -8.32 and a beta of 1.47. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.53. Tutor Perini Co. has a fifty-two week low of $13.15 and a fifty-two week high of $34.55. The firm has a fifty day moving average price of $23.72 and a two-hundred day moving average price of $25.42.

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 analysts' consensus estimates of $0.29 by ($1.80). The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.08 billion. Tutor Perini had a negative return on equity of 9.56% and a negative net margin of 3.08%. During the same quarter in the previous year, the firm posted ($0.91) earnings per share.

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.