US Bancorp DE Sells 1,462 Shares of Tutor Perini Corporation $TPC

US Bancorp DE reduced its stake in shares of Tutor Perini Corporation (NYSE:TPC) by 9.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,586 shares of the construction company’s stock after selling 1,462 shares during the quarter. US Bancorp DE’s holdings in Tutor Perini were worth $636,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. GAMMA Investing LLC grew its stake 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. New Age Alpha Advisors LLC bought a new position in Tutor Perini in the first quarter valued at approximately $54,000. Comerica Bank boosted its stake in Tutor Perini by 30.7% in the first quarter. Comerica Bank now owns 2,423 shares of the construction company’s stock valued at $56,000 after acquiring an additional 569 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in Tutor Perini in the second quarter valued at approximately $145,000. Finally, AlphaQuest LLC boosted its stake in Tutor Perini by 849.2% in the first quarter. AlphaQuest LLC now owns 3,436 shares of the construction company’s stock valued at $80,000 after acquiring an additional 3,074 shares during the last quarter. 65.01% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Sidney J. Feltenstein sold 124,668 shares of the firm’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 sale, the director directly owned 187,274 shares in the company, valued at $12,352,593.04. This trade represents a 39.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Ronald N. Tutor sold 83,144 shares of the firm’s stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $64.94, for a total transaction of $5,399,371.36. Following the sale, the chairman owned 4,062,985 shares in the company, valued at approximately $263,850,245.90. The trade was a 2.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 725,000 shares of company stock worth $44,824,931. 17.30% of the stock is currently owned by company insiders.

Tutor Perini Trading Up 0.1%

TPC opened at $64.28 on Monday. The firm’s fifty day moving average is $61.53 and its two-hundred day moving average is $45.24. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.32 and a current ratio of 1.32. The firm has a market cap of $3.39 billion, a PE ratio of -25.51 and a beta of 1.86. Tutor Perini Corporation has a twelve month low of $18.33 and a twelve month high of $68.09.

Tutor Perini (NYSE:TPC) last posted 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 net margin of 2.77% and a negative return on equity of 6.41%. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same period last year, the business posted $0.02 earnings per share. The business’s revenue for the quarter was up 21.8% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on TPC shares. Zacks Research cut shares of Tutor Perini from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. UBS Group raised their price objective on shares of Tutor Perini from $59.00 to $67.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. 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. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tutor Perini in a research note on Wednesday, October 8th. Finally, B. Riley increased their target price 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. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $60.00.

About Tutor Perini

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.