State Street Corp Sells 49,475 Shares of Tutor Perini Corporation (TPC)
State Street Corp cut its position in shares of Tutor Perini Corporation (NYSE:TPC) by 6.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 716,591 shares of the construction company’s stock after selling 49,475 shares during the period. State Street Corp’s holdings in Tutor Perini Corporation were worth $22,785,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bank of America Corp DE raised its position in Tutor Perini Corporation by 64.7% in the first quarter. Bank of America Corp DE now owns 311,710 shares of the construction company’s stock worth $9,913,000 after buying an additional 122,419 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of Tutor Perini Corporation by 10.6% in the first quarter. Schwab Charles Investment Management Inc. now owns 366,783 shares of the construction company’s stock worth $11,664,000 after buying an additional 35,110 shares in the last quarter. Clearline Capital LP acquired a new position in shares of Tutor Perini Corporation during the first quarter worth $1,503,000. Dimensional Fund Advisors LP raised its position in shares of Tutor Perini Corporation by 0.3% in the first quarter. Dimensional Fund Advisors LP now owns 4,156,868 shares of the construction company’s stock worth $132,186,000 after buying an additional 13,856 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Tutor Perini Corporation by 7.7% in the first quarter. Geode Capital Management LLC now owns 299,980 shares of the construction company’s stock worth $9,539,000 after buying an additional 21,542 shares in the last quarter. 81.17% of the stock is currently owned by institutional investors and hedge funds.
Shares of Tutor Perini Corporation (NYSE:TPC) traded down 4.64% on Thursday, reaching $26.70. The company had a trading volume of 74,132 shares. Tutor Perini Corporation has a 12 month low of $18.05 and a 12 month high of $33.00. The stock has a 50 day moving average price of $27.87 and a 200-day moving average price of $28.93. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of 13.13 and a beta of 2.42.
Tutor Perini Corporation (NYSE:TPC) last posted its earnings results on Monday, August 7th. The construction company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.57 by $0.02. Tutor Perini Corporation had a return on equity of 6.60% and a net margin of 2.08%. The firm had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same period last year, the firm earned $0.43 EPS. The firm’s revenue was down 4.7% compared to the same quarter last year. Analysts forecast that Tutor Perini Corporation will post $2.26 EPS for the current fiscal year.
A number of brokerages recently weighed in on TPC. Zacks Investment Research lowered Tutor Perini Corporation from a “hold” rating to a “sell” rating in a report on Thursday. BidaskClub lowered Tutor Perini Corporation from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 1st. Finally, Canaccord Genuity reaffirmed a “buy” rating on shares of Tutor Perini Corporation in a report on Friday, June 23rd. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company’s stock. Tutor Perini Corporation has a consensus rating of “Buy” and a consensus price target of $31.29.
Tutor Perini Corporation Company 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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