Hennessy Advisors Inc. Trims Position in Tutor Perini Co. (NYSE:TPC)

Hennessy Advisors Inc. cut its holdings in Tutor Perini Co. (NYSE:TPC - Free Report) by 10.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 612,881 shares of the construction company's stock after selling 70,100 shares during the period. Hennessy Advisors Inc. owned 1.17% of Tutor Perini worth $14,207,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in shares of Tutor Perini by 32.5% during the 1st quarter. GAMMA Investing LLC now owns 2,080 shares of the construction company's stock worth $48,000 after acquiring an additional 510 shares during the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of Tutor Perini by 7.3% during the 4th quarter. Commonwealth Equity Services LLC now owns 10,291 shares of the construction company's stock worth $249,000 after acquiring an additional 700 shares during the last quarter. Sterling Capital Management LLC lifted its holdings in shares of Tutor Perini by 7.0% during the 4th quarter. Sterling Capital Management LLC now owns 18,836 shares of the construction company's stock worth $456,000 after acquiring an additional 1,235 shares during the last quarter. Gotham Asset Management LLC lifted its holdings in shares of Tutor Perini by 4.3% during the 4th quarter. Gotham Asset Management LLC now owns 38,684 shares of the construction company's stock worth $936,000 after acquiring an additional 1,609 shares during the last quarter. Finally, EP Wealth Advisors LLC lifted its holdings in shares of Tutor Perini by 19.5% during the 4th quarter. EP Wealth Advisors LLC now owns 10,294 shares of the construction company's stock worth $249,000 after acquiring an additional 1,680 shares during the last quarter. 65.01% of the stock is owned by institutional investors.

Tutor Perini Stock Down 1.7%

Shares of NYSE TPC traded down $0.74 during midday trading on Friday, hitting $41.98. The stock had a trading volume of 549,361 shares, compared to its average volume of 553,198. The business's 50 day moving average is $29.98 and its 200-day moving average is $26.43. The company has a market cap of $2.21 billion, a P/E ratio of -16.73 and a beta of 1.74. Tutor Perini Co. has a 52 week low of $14.50 and a 52 week high of $42.78. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.53.

Tutor Perini (NYSE:TPC - Get Free Report) last issued its earnings results on Wednesday, May 7th. The construction company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.47. The firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.08 billion. Tutor Perini had a negative net margin of 3.08% and a negative return on equity of 9.56%. The business's revenue was up 18.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.30 earnings per share.

Analyst Upgrades and Downgrades

TPC has been the topic of a number of analyst reports. B. Riley reiterated a "buy" rating and issued a $50.00 target price (up previously from $40.00) on shares of Tutor Perini in a research report on Friday, June 6th. Wall Street Zen upgraded shares of Tutor Perini from a "hold" rating to a "buy" rating in a research report on Thursday, May 8th. Finally, UBS Group boosted their price target on shares of Tutor Perini from $40.00 to $41.00 and gave the company a "buy" rating in a research report on Friday, May 9th.

Insider Transactions at Tutor Perini

In other Tutor Perini news, Director Raymond R. Oneglia sold 25,000 shares of the company's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $36.14, for a total transaction of $903,500.00. Following the completion of the sale, the director now directly owns 90,470 shares of the company's stock, valued at approximately $3,269,585.80. This represents a 21.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Ronald N. Tutor sold 100,000 shares of the company's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $38.62, for a total transaction of $3,862,000.00. Following the sale, the chairman now directly owns 4,730,985 shares of the company's stock, valued at approximately $182,710,640.70. This represents a 2.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 410,000 shares of company stock worth $15,891,651. Corporate insiders own 17.30% of the company's stock.

Tutor Perini Company Profile

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.