Deutsche Bank AG Sells 3,519 Shares of Tutor Perini Corporation $TPC

Deutsche Bank AG lessened its stake in shares of Tutor Perini Corporation (NYSE:TPC) by 7.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 44,766 shares of the construction company’s stock after selling 3,519 shares during the period. Deutsche Bank AG owned 0.08% of Tutor Perini worth $1,038,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Tutor Perini by 4.8% in the first quarter. Vanguard Group Inc. now owns 2,829,370 shares of the construction company’s stock valued at $65,585,000 after purchasing an additional 130,747 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Tutor Perini by 6.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,825,350 shares of the construction company’s stock valued at $68,373,000 after buying an additional 170,440 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Tutor Perini by 5.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,726,545 shares of the construction company’s stock valued at $65,982,000 after buying an additional 148,425 shares during the period. Fred Alger Management LLC increased its position in Tutor Perini by 91.9% in the 4th quarter. Fred Alger Management LLC now owns 1,133,014 shares of the construction company’s stock valued at $27,419,000 after buying an additional 542,647 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its stake in Tutor Perini by 1.1% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 792,035 shares of the construction company’s stock worth $19,167,000 after buying an additional 8,639 shares during the period. 65.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Tutor Perini

In related news, Chairman Ronald N. Tutor sold 130,478 shares of the firm’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 transaction, the chairman directly owned 4,570,985 shares of the company’s stock, valued at $187,090,416.05. This trade represents a 2.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold 310,000 shares of company stock worth $12,270,901 over the last 90 days. 17.30% of the stock is owned by company insiders.

Tutor Perini Stock Up 2.6%

Shares of NYSE:TPC opened at $58.5010 on Monday. The business’s 50 day moving average is $48.52 and its 200 day moving average is $34.54. Tutor Perini Corporation has a 12-month low of $18.33 and a 12-month high of $63.96. The stock has a market cap of $3.09 billion, a price-to-earnings ratio of -23.21 and a beta of 1.83. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.32.

Tutor Perini (NYSE:TPC) last released its quarterly earnings results on Wednesday, August 6th. The construction company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $1.12. The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.27 billion. Tutor Perini had a negative return on equity of 6.41% and a negative net margin of 2.77%.Tutor Perini’s quarterly revenue was up 21.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.02 EPS.

Wall Street Analyst Weigh In

TPC has been the subject of a number of research reports. Zacks Research raised Tutor Perini to a “strong-buy” rating in a research note on Friday, August 8th. Wall Street Zen upgraded Tutor Perini from a “buy” rating to a “strong-buy” rating in a report on Monday, August 11th. UBS Group boosted their price target on shares of Tutor Perini from $59.00 to $67.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. Finally, B. Riley upped their price objective on shares of Tutor Perini from $50.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $60.00.

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.