Tutor Perini Corporation $TPC Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lowered its position in shares of Tutor Perini Corporation (NYSE:TPC) by 40.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 481,753 shares of the construction company’s stock after selling 330,706 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.91% of Tutor Perini worth $11,167,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC raised its stake in Tutor Perini by 32.5% during the first quarter. GAMMA Investing LLC now owns 2,080 shares of the construction company’s stock worth $48,000 after purchasing an additional 510 shares during the period. New Age Alpha Advisors LLC purchased a new position in Tutor Perini during the first quarter worth approximately $54,000. CWM LLC raised its stake in Tutor Perini by 32.8% during the first quarter. CWM LLC now owns 3,442 shares of the construction company’s stock worth $80,000 after purchasing an additional 850 shares during the period. State of Wyoming raised its stake in Tutor Perini by 39.7% during the fourth quarter. State of Wyoming now owns 6,212 shares of the construction company’s stock worth $150,000 after purchasing an additional 1,764 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Tutor Perini during the first quarter worth approximately $229,000. Institutional investors and hedge funds own 65.01% of the company’s stock.

Insider Activity at Tutor Perini

In other news, Chairman Ronald N. Tutor sold 130,478 shares of the firm’s stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $40.93, for a total value of $5,340,464.54. Following the transaction, the chairman owned 4,570,985 shares of the company’s stock, valued at approximately $187,090,416.05. This trade represents a 2.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last quarter, insiders have sold 310,000 shares of company stock valued at $12,270,901. Company insiders own 17.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Wall Street Zen raised shares of Tutor Perini from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 11th. Zacks Research raised shares of Tutor Perini to a “strong-buy” rating in a research note on Friday, August 8th. UBS Group increased their price target on shares of Tutor Perini from $59.00 to $67.00 and gave the stock a “buy” rating in a research note on Thursday, August 7th. Finally, B. Riley increased their price target on shares of Tutor Perini from $50.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company’s stock. According to data from MarketBeat, Tutor Perini presently has a consensus rating of “Buy” and a consensus target price of $60.00.

Tutor Perini Stock Performance

Shares of TPC stock opened at $58.5010 on Monday. The company’s fifty day simple moving average is $48.52 and its 200-day simple moving average is $34.54. Tutor Perini Corporation has a 52 week low of $18.33 and a 52 week high of $63.96. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.32. The company has a market cap of $3.09 billion, a PE 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 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $1.12. Tutor Perini had a negative net margin of 2.77% and a negative return on equity of 6.41%. The business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter last year, the firm posted $0.02 EPS. The business’s revenue for the quarter was up 21.8% compared to the same quarter last year.

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.