Pinnacle Associates Ltd. Sells 76,851 Shares of Tutor Perini Co. (NYSE:TPC)

Pinnacle Associates Ltd. trimmed its stake in shares of Tutor Perini Co. (NYSE:TPCGet Rating) by 14.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 465,794 shares of the construction company’s stock after selling 76,851 shares during the period. Pinnacle Associates Ltd. owned approximately 0.91% of Tutor Perini worth $5,762,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. lifted its holdings in Tutor Perini by 13.2% in the third quarter. BlackRock Inc. now owns 4,170,553 shares of the construction company’s stock valued at $54,135,000 after buying an additional 485,118 shares during the period. Donald Smith & CO. Inc. lifted its holdings in Tutor Perini by 7.7% in the third quarter. Donald Smith & CO. Inc. now owns 2,708,101 shares of the construction company’s stock valued at $35,151,000 after buying an additional 193,147 shares during the period. Russell Investments Group Ltd. lifted its holdings in Tutor Perini by 3.7% in the third quarter. Russell Investments Group Ltd. now owns 1,021,366 shares of the construction company’s stock valued at $13,255,000 after buying an additional 36,448 shares during the period. Principal Financial Group Inc. lifted its holdings in Tutor Perini by 1.8% in the third quarter. Principal Financial Group Inc. now owns 759,160 shares of the construction company’s stock valued at $9,854,000 after buying an additional 13,611 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Tutor Perini by 0.9% in the third quarter. Geode Capital Management LLC now owns 691,148 shares of the construction company’s stock valued at $8,971,000 after buying an additional 6,177 shares during the period. Institutional investors own 68.49% of the company’s stock.

Shares of NYSE TPC opened at $10.05 on Monday. The firm’s 50-day moving average is $10.68. Tutor Perini Co. has a 1-year low of $9.19 and a 1-year high of $18.30. The firm has a market capitalization of $513.51 million, a price-to-earnings ratio of 5.61 and a beta of 1.31. The company has a quick ratio of 2.17, a current ratio of 2.17 and a debt-to-equity ratio of 0.58.

Tutor Perini (NYSE:TPCGet Rating) last posted its earnings results on Thursday, February 24th. The construction company reported $0.57 earnings per share for the quarter. Tutor Perini had a net margin of 1.98% and a return on equity of 5.67%. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the prior year, the business posted $0.69 EPS. The firm’s revenue was down 23.1% compared to the same quarter last year. Sell-side analysts forecast that Tutor Perini Co. will post 1.45 earnings per share for the current fiscal year.

Several equities analysts have recently weighed in on the stock. StockNews.com assumed coverage on shares of Tutor Perini in a report on Thursday, March 31st. They set a “hold” rating on the stock. Zacks Investment Research lowered shares of Tutor Perini from a “hold” rating to a “strong sell” rating in a report on Thursday, March 3rd. Finally, B. Riley dropped their price objective on shares of Tutor Perini from $19.00 to $17.00 and set a “buy” rating on the stock in a report on Monday, February 28th.

Tutor Perini Company Profile (Get Rating)

Tutor Perini Corporation, a construction company, provides diversified general contracting, construction management, and design-build services to private customers and public agencies worldwide. It operates through three segments: Civil, Building, and Specialty Contractors. The Civil segment engages in the public works construction and the replacement and reconstruction of infrastructure, construction and rehabilitation of highways, bridges, tunnels, mass-transit systems, military defense facilities, and water management and wastewater treatment facilities.

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Institutional Ownership by Quarter for Tutor Perini (NYSE:TPC)

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