Tutor Perini Corporation (NYSE:TPC) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas cut its holdings in shares of Tutor Perini Corporation (NYSE:TPC) by 62.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,405 shares of the construction company’s stock after selling 21,879 shares during the period. Teacher Retirement System of Texas’ holdings in Tutor Perini were worth $311,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its position in Tutor Perini by 32.5% during the first quarter. GAMMA Investing LLC now owns 2,080 shares of the construction company’s stock valued at $48,000 after purchasing an additional 510 shares during the period. Commonwealth Equity Services LLC raised its position in shares of Tutor Perini by 7.3% in the fourth 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 period. Sterling Capital Management LLC raised its position in shares of Tutor Perini by 7.0% in the fourth quarter. Sterling Capital Management LLC now owns 18,836 shares of the construction company’s stock worth $456,000 after acquiring an additional 1,235 shares during the period. Gotham Asset Management LLC raised its position in shares of Tutor Perini by 4.3% in the fourth quarter. Gotham Asset Management LLC now owns 38,684 shares of the construction company’s stock worth $936,000 after acquiring an additional 1,609 shares during the period. Finally, EP Wealth Advisors LLC raised its position in shares of Tutor Perini by 19.5% in the fourth quarter. EP Wealth Advisors LLC now owns 10,294 shares of the construction company’s stock worth $249,000 after acquiring an additional 1,680 shares during the period. 65.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Raymond R. Oneglia sold 25,000 shares of the company’s stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $36.14, for a total transaction of $903,500.00. Following the completion of the sale, the director owned 90,470 shares of the company’s stock, valued at approximately $3,269,585.80. This represents a 21.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Ronald N. Tutor sold 130,478 shares of the company’s stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $40.93, for a total transaction of $5,340,464.54. Following the sale, the chairman directly owned 4,570,985 shares of the company’s stock, valued at approximately $187,090,416.05. This represents a 2.78% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 410,000 shares of company stock valued at $15,891,651. 17.30% of the stock is owned by corporate insiders.

Tutor Perini Stock Down 1.5%

TPC stock opened at $50.11 on Friday. The stock has a market capitalization of $2.64 billion, a P/E ratio of -17.40 and a beta of 1.79. The firm has a 50-day simple moving average of $41.17 and a 200-day simple moving average of $29.58. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.33. Tutor Perini Corporation has a 52 week low of $14.50 and a 52 week high of $51.98.

Tutor Perini (NYSE:TPC) last released its earnings results on Wednesday, May 7th. The construction company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.47. The business had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Tutor Perini had a negative net margin of 3.35% and a negative return on equity of 11.64%. The company’s quarterly revenue was up 18.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.30 earnings per share.

Analyst Upgrades and Downgrades

TPC has been the subject of a number of analyst reports. Wall Street Zen downgraded shares of Tutor Perini from a “strong-buy” rating to a “buy” rating in a research report on Friday. UBS Group upped their price objective on shares of Tutor Perini from $41.00 to $59.00 and gave the stock a “buy” rating in a research report on Thursday, July 10th. Finally, B. Riley reiterated a “buy” rating and issued a $50.00 price objective (up previously from $40.00) on shares of Tutor Perini in a research report on Friday, June 6th.

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.