Acadian Asset Management LLC Sells 325,547 Shares of Tutor Perini Corporation $TPC

Acadian Asset Management LLC lessened its holdings in Tutor Perini Corporation (NYSE:TPC) by 86.9% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 49,041 shares of the construction company’s stock after selling 325,547 shares during the period. Acadian Asset Management LLC owned approximately 0.09% of Tutor Perini worth $1,135,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Ameriprise Financial Inc. increased its stake in Tutor Perini by 8.8% in the fourth quarter. Ameriprise Financial Inc. now owns 211,843 shares of the construction company’s stock valued at $5,127,000 after acquiring an additional 17,217 shares during the last quarter. Bank of America Corp DE grew its position in shares of Tutor Perini by 25.0% during the 4th quarter. Bank of America Corp DE now owns 206,941 shares of the construction company’s stock valued at $5,008,000 after acquiring an additional 41,451 shares during the period. Captrust Financial Advisors bought a new stake in Tutor Perini during the fourth quarter valued at about $251,000. Deutsche Bank AG raised its position in shares of Tutor Perini by 34.2% during the 4th quarter. Deutsche Bank AG now owns 48,285 shares of the construction company’s stock valued at $1,168,000 after buying an additional 12,296 shares in the last quarter. Finally, Millennium Management LLC raised its position in Tutor Perini by 90.8% in the 4th quarter. Millennium Management LLC now owns 144,597 shares of the construction company’s stock worth $3,499,000 after purchasing an additional 68,807 shares during the period. Institutional investors own 65.01% of the company’s stock.

Tutor Perini Stock Performance

TPC opened at $63.54 on Thursday. The business has a fifty day simple moving average of $54.31 and a 200 day simple moving average of $39.17. The company has a market capitalization of $3.35 billion, a PE ratio of -25.21 and a beta of 1.88. 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 1 year low of $18.33 and a 1 year high of $65.60.

Tutor Perini (NYSE:TPC) last posted its quarterly earnings results on Wednesday, August 6th. The construction company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter in the previous year, the firm earned $0.02 EPS. Tutor Perini’s revenue was up 21.8% on a year-over-year basis.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Tutor Perini

In other Tutor Perini news, Chairman Ronald N. Tutor sold 44,312 shares of the firm’s stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $59.13, for a total transaction of $2,620,168.56. Following the sale, the chairman owned 4,270,985 shares in the company, valued at $252,543,343.05. This trade represents a 1.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 400,000 shares of company stock worth $23,677,555 over the last three months. 17.30% of the stock is currently owned by company insiders.

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.