Levin Capital Strategies L.P. Sells 18,000 Shares of Tutor Perini Corporation $TPC

Levin Capital Strategies L.P. cut its position in Tutor Perini Corporation (NYSE:TPC) by 78.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,000 shares of the construction company’s stock after selling 18,000 shares during the quarter. Levin Capital Strategies L.P.’s holdings in Tutor Perini were worth $328,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Plato Investment Management Ltd raised its stake in Tutor Perini by 5,803.4% in the 3rd quarter. Plato Investment Management Ltd now owns 6,966 shares of the construction company’s stock worth $453,000 after purchasing an additional 6,848 shares in the last quarter. Thompson Davis & CO. Inc. bought a new stake in shares of Tutor Perini during the 3rd quarter valued at $784,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Tutor Perini in the third quarter worth $5,177,000. M&G PLC acquired a new position in Tutor Perini in the third quarter valued at about $15,658,000. Finally, Navellier & Associates Inc. bought a new stake in Tutor Perini during the third quarter worth about $1,433,000. Institutional investors and hedge funds own 65.01% of the company’s stock.

Insider Transactions at Tutor Perini

In related news, Director Peter Arkley bought 24,853 shares of the business’s stock in a transaction on Monday, November 24th. The shares were purchased at an average cost of $63.96 per share, with a total value of $1,589,597.88. Following the acquisition, the director owned 176,570 shares of the company’s stock, valued at $11,293,417.20. This represents a 16.38% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 17.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tutor Perini in a report on Wednesday, January 21st. B. Riley Financial reaffirmed a “buy” rating on shares of Tutor Perini in a report on Thursday, November 6th. Wall Street Zen lowered Tutor Perini from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 22nd. Finally, UBS Group upped their price objective on Tutor Perini from $67.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $80.50.

Tutor Perini Stock Performance

Tutor Perini stock opened at $81.27 on Thursday. The business has a 50 day moving average of $74.64 and a 200-day moving average of $66.79. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.30 and a quick ratio of 1.30. Tutor Perini Corporation has a 1 year low of $18.33 and a 1 year high of $89.40. The company has a market capitalization of $4.29 billion, a P/E ratio of -153.34 and a beta of 2.21.

Tutor Perini Company Profile

Tutor Perini Corporation is a leading U.S. construction company that provides diversified general contracting, construction management and design-build services to private clients and public agencies. The company operates through three principal market segments—Civil, Building and Specialty Contractors—serving a broad range of infrastructure and vertical construction needs.

In its Civil segment, Tutor Perini delivers heavy civil infrastructure projects including highways and bridges, water management, dams, tunnels and rail systems.