Vanguard Group Inc. Reduces Stock Position in Tutor Perini Co. (NYSE:TPC)

Vanguard Group Inc. trimmed its holdings in Tutor Perini Co. (NYSE:TPC) by 2.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,698,623 shares of the construction company’s stock after selling 72,288 shares during the period. Vanguard Group Inc. owned approximately 5.15% of Tutor Perini worth $65,307,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of TPC. The Manufacturers Life Insurance Company grew its position in shares of Tutor Perini by 35.3% in the third quarter. The Manufacturers Life Insurance Company now owns 22,827 shares of the construction company’s stock valued at $620,000 after purchasing an additional 5,953 shares in the last quarter. FMR LLC grew its holdings in Tutor Perini by 103.1% during the 3rd quarter. FMR LLC now owns 4,725 shares of the construction company’s stock valued at $128,000 after buying an additional 2,399 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Tutor Perini by 7.2% during 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 buying an additional 4,070 shares in the last quarter. State Street Corp lifted its holdings in shares of Tutor Perini by 2.0% in the third quarter. State Street Corp now owns 975,082 shares of the construction company’s stock worth $26,483,000 after buying an additional 19,518 shares in the last quarter. Finally, EP Wealth Advisors LLC purchased a new stake in shares of Tutor Perini in the third quarter worth about $234,000. Institutional investors own 65.01% of the company’s stock.

Tutor Perini Stock Down 6.1 %

TPC stock opened at $20.79 on Friday. The company’s 50 day moving average is $23.68 and its 200 day moving average is $25.45. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of -8.28 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 1-year low of $13.15 and a 1-year high of $34.55.

Tutor Perini (NYSE:TPC) last issued its quarterly earnings results on Thursday, February 27th. The construction company reported ($1.51) EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($1.80). Tutor Perini had a negative return on equity of 9.56% and a negative net margin of 3.08%. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the previous year, the company earned ($0.91) EPS.

Wall Street Analysts Forecast Growth

TPC has been the topic of a number of analyst reports. StockNews.com lowered shares of Tutor Perini from a “buy” rating to a “hold” rating in a report on Tuesday, January 28th. B. Riley raised shares of Tutor Perini to a “strong-buy” rating in a report on Tuesday, March 18th.

Tutor Perini Company 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.