Rhumbline Advisers Decreases Stake in Tutor Perini Corporation $TPC

Rhumbline Advisers cut its stake in shares of Tutor Perini Corporation (NYSE:TPC) by 4.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 78,722 shares of the construction company’s stock after selling 3,757 shares during the period. Rhumbline Advisers owned 0.15% of Tutor Perini worth $1,825,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. GAMMA Investing LLC raised 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. Aristeia Capital L.L.C. raised its position in Tutor Perini by 4.6% during the first quarter. Aristeia Capital L.L.C. now owns 11,957 shares of the construction company’s stock valued at $277,000 after purchasing an additional 530 shares during the period. Comerica Bank raised its position in Tutor Perini by 30.7% during the first quarter. Comerica Bank now owns 2,423 shares of the construction company’s stock valued at $56,000 after purchasing an additional 569 shares during the period. CWM LLC raised its position in Tutor Perini by 32.8% during the first quarter. CWM LLC now owns 3,442 shares of the construction company’s stock valued at $80,000 after purchasing an additional 850 shares during the period. Finally, First Wilshire Securities Management Inc. raised its position in Tutor Perini by 0.3% during the first quarter. First Wilshire Securities Management Inc. now owns 264,758 shares of the construction company’s stock valued at $6,137,000 after purchasing an additional 857 shares during the period. 65.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. UBS Group increased their price target on Tutor Perini from $59.00 to $67.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Zacks Research upgraded Tutor Perini to a “strong-buy” rating in a report 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. Finally, B. Riley increased their price target on Tutor Perini from $50.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $60.00.

Tutor Perini Stock Down 0.5%

Shares of NYSE TPC opened at $63.54 on Thursday. 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 stock has a market capitalization of $3.35 billion, a PE ratio of -25.21 and a beta of 1.88. The stock’s fifty day simple moving average is $54.31 and its two-hundred day simple moving average is $39.17. Tutor Perini Corporation has a 12-month low of $18.33 and a 12-month high of $65.60.

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

Insider Activity at Tutor Perini

In other news, Chairman Ronald N. Tutor sold 44,312 shares of the stock in a transaction on 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 completion of the sale, the chairman owned 4,270,985 shares in the company, valued at approximately $252,543,343.05. This represents a 1.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders sold 400,000 shares of company stock worth $23,677,555. Corporate insiders own 17.30% of the company’s stock.

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.