Hotchkis & Wiley Capital Management LLC reduced its position in Tutor Perini Corporation (NYSE:TPC) by 0.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,375,748 shares of the construction company’s stock after selling 6,870 shares during the period. Hotchkis & Wiley Capital Management LLC owned about 2.77% of Tutor Perini Corporation worth $39,553,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Nationwide Fund Advisors raised its holdings in Tutor Perini Corporation by 15.8% in the 2nd quarter. Nationwide Fund Advisors now owns 125,393 shares of the construction company’s stock worth $3,605,000 after acquiring an additional 17,091 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in Tutor Perini Corporation by 86.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 162,956 shares of the construction company’s stock worth $4,682,000 after acquiring an additional 75,407 shares during the last quarter. TIAA CREF Investment Management LLC raised its holdings in Tutor Perini Corporation by 8.7% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 146,439 shares of the construction company’s stock worth $4,210,000 after acquiring an additional 11,708 shares during the last quarter. Teachers Advisors LLC raised its holdings in Tutor Perini Corporation by 0.8% in the 2nd quarter. Teachers Advisors LLC now owns 67,275 shares of the construction company’s stock worth $1,934,000 after acquiring an additional 511 shares during the last quarter. Finally, Systematic Financial Management LP raised its holdings in Tutor Perini Corporation by 20.5% in the 2nd quarter. Systematic Financial Management LP now owns 301,318 shares of the construction company’s stock worth $8,663,000 after acquiring an additional 51,238 shares during the last quarter. Institutional investors own 81.11% of the company’s stock.
In other news, CEO Ronald N. Tutor sold 75,000 shares of Tutor Perini Corporation stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $26.09, for a total transaction of $1,956,750.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder N. Tutor Separate Prope Ronald sold 25,000 shares of Tutor Perini Corporation stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $26.11, for a total transaction of $652,750.00. Following the sale, the insider now owns 5,923,120 shares of the company’s stock, valued at $154,652,663.20. The disclosure for this sale can be found here. Insiders have sold 175,000 shares of company stock valued at $4,566,711 over the last quarter. Insiders own 24.50% of the company’s stock.
Shares of Tutor Perini Corporation (NYSE TPC) traded up 1.14% during midday trading on Friday, reaching $26.60. 302,807 shares of the company’s stock were exchanged. Tutor Perini Corporation has a one year low of $18.05 and a one year high of $33.00. The firm has a market cap of $1.32 billion, a PE ratio of 13.08 and a beta of 2.45. The stock’s 50-day moving average is $25.82 and its 200 day moving average is $28.09.
Tutor Perini Corporation (NYSE:TPC) last posted its quarterly earnings data on Monday, August 7th. The construction company reported $0.59 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.02. Tutor Perini Corporation had a net margin of 2.08% and a return on equity of 6.60%. The business had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the previous year, the firm posted $0.43 earnings per share. The business’s revenue for the quarter was down 4.7% compared to the same quarter last year. Analysts anticipate that Tutor Perini Corporation will post $2.26 EPS for the current year.
A number of equities analysts recently weighed in on TPC shares. BidaskClub lowered shares of Tutor Perini Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Zacks Investment Research lowered shares of Tutor Perini Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, July 6th. KeyCorp reiterated a “hold” rating on shares of Tutor Perini Corporation in a research note on Friday, August 25th. Finally, Canaccord Genuity reiterated a “buy” rating on shares of Tutor Perini Corporation in a research note on Friday, June 23rd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $31.29.
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Tutor Perini Corporation Profile
Tutor Perini Corporation is a construction company offering general contracting, construction management and design-build services to private customers and public agencies across the world. The Company operates through three segments: Civil, Building and Specialty Contractors. Its Civil segment specializes in public works construction and the repair, replacement and reconstruction of infrastructure across various geographic regions of the United States.
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