Tutor Perini Corporation $TPC Shares Sold by American Century Companies Inc.

American Century Companies Inc. trimmed its stake in shares of Tutor Perini Corporation (NYSE:TPC) by 29.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 794,883 shares of the construction company’s stock after selling 333,196 shares during the period. American Century Companies Inc. owned about 1.51% of Tutor Perini worth $18,425,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. SG Americas Securities LLC purchased a new stake in shares of Tutor Perini during the first quarter valued at $965,000. GAMMA Investing LLC lifted its holdings in shares of 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 last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Tutor Perini by 7.6% during the first quarter. Bank of New York Mellon Corp now owns 127,546 shares of the construction company’s stock valued at $2,957,000 after purchasing an additional 9,001 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Tutor Perini by 75.1% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,363 shares of the construction company’s stock valued at $542,000 after purchasing an additional 10,018 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Tutor Perini by 8.8% during the fourth quarter. Ameriprise Financial Inc. now owns 211,843 shares of the construction company’s stock valued at $5,127,000 after purchasing an additional 17,217 shares during the last quarter. 65.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on TPC. UBS Group upped their price target on Tutor Perini from $59.00 to $67.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. Wall Street Zen raised Tutor Perini from a “buy” rating to a “strong-buy” rating in a research report on Monday, August 11th. Zacks Research raised Tutor Perini to a “strong-buy” rating in a research report on Friday, August 8th. Finally, B. Riley upped their price target on Tutor Perini from $50.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company’s stock. Based on data from MarketBeat, Tutor Perini currently has a consensus rating of “Buy” and a consensus price target of $60.00.

Insider Activity

In other news, Chairman Ronald N. Tutor sold 130,478 shares of the company’s stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $40.93, for a total transaction of $5,340,464.54. Following the completion of the sale, the chairman owned 4,570,985 shares in the company, valued at approximately $187,090,416.05. This represents a 2.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders sold 310,000 shares of company stock worth $12,270,901. Corporate insiders own 17.30% of the company’s stock.

Tutor Perini Stock Performance

Shares of TPC stock opened at $58.5010 on Monday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.32 and a quick ratio of 1.32. Tutor Perini Corporation has a fifty-two week low of $18.33 and a fifty-two week high of $63.96. The stock’s 50-day moving average is $48.52 and its two-hundred day moving average is $34.54. The firm has a market cap of $3.09 billion, a P/E ratio of -23.21 and a beta of 1.83.

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

Tutor Perini 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.