Hillcrest Asset Management LLC lessened its stake in Tutor Perini Corporation (NYSE:TPC) by 0.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 391,130 shares of the construction company’s stock after selling 502 shares during the quarter. Tutor Perini Corporation comprises about 2.1% of Hillcrest Asset Management LLC’s investment portfolio, making the stock its 15th largest holding. Hillcrest Asset Management LLC owned about 0.79% of Tutor Perini Corporation worth $11,245,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Afam Capital Inc. increased its holdings in Tutor Perini Corporation by 2.1% in the second quarter. Afam Capital Inc. now owns 168,832 shares of the construction company’s stock valued at $4,854,000 after purchasing an additional 3,548 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in Tutor Perini Corporation by 1.6% in the second quarter. The Manufacturers Life Insurance Company now owns 29,820 shares of the construction company’s stock valued at $858,000 after purchasing an additional 481 shares during the last quarter. Westside Investment Management Inc. increased its holdings in Tutor Perini Corporation by 10.0% in the second quarter. Westside Investment Management Inc. now owns 45,855 shares of the construction company’s stock valued at $1,328,000 after purchasing an additional 4,175 shares during the last quarter. State Street Corp increased its holdings in Tutor Perini Corporation by 4.7% in the second quarter. State Street Corp now owns 750,365 shares of the construction company’s stock valued at $21,576,000 after purchasing an additional 33,774 shares during the last quarter. Finally, Frontier Wealth Management LLC bought a new stake in Tutor Perini Corporation in the second quarter valued at about $292,000. Institutional investors and hedge funds own 81.11% of the company’s stock.

Tutor Perini Corporation (NYSE TPC) traded down 0.36% on Friday, reaching $27.90. The company’s stock had a trading volume of 305,347 shares. Tutor Perini Corporation has a 52-week low of $18.05 and a 52-week high of $33.00. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of 13.72 and a beta of 2.45. The firm’s 50-day moving average price is $27.23 and its 200-day moving average price is $27.82.

Tutor Perini Corporation (NYSE:TPC) last announced its earnings results on Monday, August 7th. The construction company reported $0.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.02. The business had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.42 billion. Tutor Perini Corporation had a return on equity of 6.60% and a net margin of 2.08%. Tutor Perini Corporation’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period last year, the company earned $0.43 EPS. On average, equities analysts expect that Tutor Perini Corporation will post $2.26 earnings per share for the current year.

TPC has been the subject of a number of recent analyst reports. Seaport Global Securities downgraded Tutor Perini Corporation from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $40.00 to $31.00 in a report on Wednesday. BidaskClub downgraded Tutor Perini Corporation from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 1st. Zacks Investment Research upgraded Tutor Perini Corporation from a “sell” rating to a “hold” rating in a report on Wednesday. Canaccord Genuity reiterated a “buy” rating and issued a $35.00 price objective on shares of Tutor Perini Corporation in a report on Saturday, August 26th. Finally, KeyCorp reiterated a “hold” rating on shares of Tutor Perini Corporation in a report on Friday, August 25th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. Tutor Perini Corporation presently has a consensus rating of “Hold” and an average target price of $32.00.

In other news, major shareholder N. Tutor Separate Prope Ronald sold 25,000 shares of Tutor Perini Corporation stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $26.11, for a total value of $652,750.00. Following the completion of the transaction, the insider now directly owns 5,923,120 shares of the company’s stock, valued at approximately $154,652,663.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Ronald N. Tutor sold 3,617 shares of Tutor Perini Corporation stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $26.02, for a total value of $94,114.34. The disclosure for this sale can be found here. Over the last three months, insiders sold 175,000 shares of company stock valued at $4,566,711. Corporate insiders own 24.50% of the company’s stock.

WARNING: This report was originally reported by Watch List News and is the property of of Watch List News. If you are reading this report on another publication, it was illegally stolen and republished in violation of U.S. & international copyright legislation. The original version of this report can be read at https://www.watchlistnews.com/tutor-perini-corporation-tpc-position-reduced-by-hillcrest-asset-management-llc/1630940.html.

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.

Want to see what other hedge funds are holding TPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tutor Perini Corporation (NYSE:TPC).

Institutional Ownership by Quarter for Tutor Perini Corporation (NYSE:TPC)

Receive News & Ratings for Tutor Perini Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tutor Perini Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.