Russell Investments Group Ltd. Sells 171,243 Shares of Tutor Perini Co. (NYSE:TPC)

Russell Investments Group Ltd. lessened its position in Tutor Perini Co. (NYSE:TPC – Get Rating) by 32.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 364,072 shares of the construction company’s stock after selling 171,243 shares during the period. Russell Investments Group Ltd. owned about 0.71% of Tutor Perini worth $2,749,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TPC. Swiss National Bank lifted its stake in shares of Tutor Perini by 7.6% in the first quarter. Swiss National Bank now owns 108,700 shares of the construction company’s stock worth $1,174,000 after buying an additional 7,700 shares in the last quarter. Raymond James & Associates bought a new position in shares of Tutor Perini in the first quarter worth approximately $142,000. American Century Companies Inc. lifted its stake in shares of Tutor Perini by 33.8% in the first quarter. American Century Companies Inc. now owns 129,556 shares of the construction company’s stock worth $1,399,000 after buying an additional 32,707 shares in the last quarter. MetLife Investment Management LLC lifted its stake in shares of Tutor Perini by 55.4% in the first quarter. MetLife Investment Management LLC now owns 22,604 shares of the construction company’s stock worth $244,000 after buying an additional 8,060 shares in the last quarter. Finally, BlackRock Inc. lifted its stake in shares of Tutor Perini by 7.8% in the first quarter. BlackRock Inc. now owns 4,333,989 shares of the construction company’s stock worth $46,806,000 after buying an additional 312,568 shares in the last quarter. Institutional investors own 65.86% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. StockNews.com assumed coverage on shares of Tutor Perini in a research report on Thursday. They set a “hold” rating on the stock. B. Riley lowered their price objective on shares of Tutor Perini from $10.00 to $8.00 in a research report on Friday, March 17th.

Insider Transactions at Tutor Perini

In other news, Director Sidney J. Feltenstein acquired 75,000 shares of Tutor Perini stock in a transaction dated Thursday, May 18th. The stock was purchased at an average cost of $5.96 per share, with a total value of $447,000.00. Following the completion of the purchase, the director now directly owns 292,677 shares in the company, valued at approximately $1,744,354.92. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 21.30% of the company’s stock.

Tutor Perini Stock Down 5.3 %

Shares of TPC stock opened at $5.85 on Friday. Tutor Perini Co. has a 12 month low of $4.90 and a 12 month high of $10.62. The stock has a market cap of $302.12 million, a P/E ratio of -1.27 and a beta of 1.44. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.66. The company has a 50 day simple moving average of $5.80 and a two-hundred day simple moving average of $7.28.

Tutor Perini (NYSE:TPC – Get Rating) last announced its earnings results on Wednesday, March 15th. The construction company reported ($1.80) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($1.82). The business had revenue of $906.65 million for the quarter, compared to analysts’ expectations of $976.17 million. Tutor Perini had a negative net margin of 6.57% and a negative return on equity of 16.06%. The firm’s quarterly revenue was down 12.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.57 earnings per share. On average, research analysts expect that Tutor Perini Co. will post -0.94 earnings per share for the current year.

About Tutor Perini

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Tutor Perini Corp. engages in the provision of construction services. It operates through the following business segments: Civil, Building, and Specialty Contractors. The Civil segment specializes in public works construction and the replacement and reconstruction of infrastructure across the major geographic regions of the United States.