Public Employees Retirement System of Ohio Cuts Holdings in Tutor Perini Corporation $TPC

Public Employees Retirement System of Ohio trimmed its holdings in shares of Tutor Perini Corporation (NYSE:TPC) by 11.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 57,654 shares of the construction company’s stock after selling 7,120 shares during the quarter. Public Employees Retirement System of Ohio owned approximately 0.11% of Tutor Perini worth $2,697,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of TPC. Two Sigma Investments LP increased its holdings in Tutor Perini by 110.3% during the fourth quarter. Two Sigma Investments LP now owns 47,810 shares of the construction company’s stock valued at $1,157,000 after buying an additional 25,076 shares during the period. Squarepoint Ops LLC increased its holdings in Tutor Perini by 107.9% during the fourth quarter. Squarepoint Ops LLC now owns 24,865 shares of the construction company’s stock valued at $602,000 after buying an additional 12,903 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Tutor Perini by 47.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 89,032 shares of the construction company’s stock valued at $2,155,000 after buying an additional 28,701 shares during the period. GAMMA Investing LLC increased its holdings in Tutor Perini by 2,971.0% during the first quarter. GAMMA Investing LLC now owns 48,214 shares of the construction company’s stock valued at $1,118,000 after buying an additional 46,644 shares during the period. Finally, SG Americas Securities LLC purchased a new position in Tutor Perini during the first quarter valued at approximately $965,000. 65.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Zacks Research raised shares of Tutor Perini to a “strong-buy” rating in a report on Friday, August 8th. UBS Group lifted their price target on shares of Tutor Perini from $59.00 to $67.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Wall Street Zen raised shares of Tutor Perini from a “buy” rating to a “strong-buy” rating in a report on Monday, August 11th. Finally, B. Riley lifted their price target 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 given a Buy rating to the company. Based on data from MarketBeat, Tutor Perini currently has an average rating of “Buy” and an average price target of $60.00.

Insider Buying and Selling at Tutor Perini

In related news, Chairman Ronald N. Tutor sold 83,144 shares of the business’s stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $64.94, for a total transaction of $5,399,371.36. Following the completion of the transaction, the chairman directly owned 4,062,985 shares in the company, valued at $263,850,245.90. The trade was a 2.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Sidney J. Feltenstein sold 124,668 shares of the business’s stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $65.96, for a total transaction of $8,223,101.28. Following the transaction, the director owned 187,274 shares of the company’s stock, valued at $12,352,593.04. This represents a 39.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 725,000 shares of company stock valued at $44,824,931 over the last quarter. Insiders own 17.30% of the company’s stock.

Tutor Perini Trading Down 2.7%

NYSE:TPC opened at $63.80 on Thursday. Tutor Perini Corporation has a 12 month low of $18.33 and a 12 month high of $68.09. The firm has a fifty day simple moving average of $58.19 and a 200-day simple moving average of $41.93. 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 capitalization of $3.36 billion, a P/E ratio of -25.32 and a beta of 1.86.

Tutor Perini (NYSE:TPC) last posted its quarterly earnings data on Wednesday, August 6th. The construction company reported $1.41 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the previous year, the firm posted $0.02 earnings per share. The business’s revenue for the quarter 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.