Lesa Sroufe & Co Reduces Position in Tutor Perini Corporation $TPC

Key Points

• Lesa Sroufe & Co has decreased its stake in Tutor Perini Corporation by 43.7% in Q2, resulting in ownership of approximately 70,535 shares, valued at about $3.3 million.
• Institutional investors now control 65.01% of Tutor Perini's stock, with several notable new investments made during the same quarter, including Amanah Holdings Trust's $19.2 million position.
• Analyst ratings are mixed for Tutor Perini, with three analysts giving it a "Buy" rating and one rating it as a "Sell," reflecting a variety of opinions on the stock's future performance.

Lesa Sroufe & Co lessened its position in Tutor Perini Corporation (NYSE:TPC - Free Report) by 43.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 70,535 shares of the construction company's stock after selling 54,844 shares during the quarter. Tutor Perini comprises about 3.0% of Lesa Sroufe & Co's investment portfolio, making the stock its 9th biggest position. Lesa Sroufe & Co owned about 0.13% of Tutor Perini worth $3,300,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. KLP Kapitalforvaltning AS raised its holdings in Tutor Perini by 3.1% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 9,900 shares of the construction company's stock worth $463,000 after acquiring an additional 300 shares during the period. Counterpoint Mutual Funds LLC bought a new position in Tutor Perini in the 2nd quarter worth $389,000. Lingohr Asset Management GmbH bought a new position in Tutor Perini in the 2nd quarter worth $206,000. Amanah Holdings Trust bought a new position in Tutor Perini in the 2nd quarter worth $19,163,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in Tutor Perini in the 2nd quarter worth $145,000. Institutional investors own 65.01% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on TPC. UBS Group lifted their target price on shares of Tutor Perini from $59.00 to $67.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Weiss Ratings restated a "sell (d-)" rating on shares of Tutor Perini in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of Tutor Perini from a "buy" rating to a "strong-buy" rating in a report on Monday, August 11th. Zacks Research downgraded shares of Tutor Perini from a "strong-buy" rating to a "hold" rating in a report on Monday, October 6th. Finally, B. Riley boosted their price objective on shares of Tutor Perini from $50.00 to $75.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $60.00.

Insider Activity

In other news, Chairman Ronald N. Tutor sold 83,144 shares of Tutor Perini stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $64.94, for a total transaction of $5,399,371.36. Following the sale, the chairman directly owned 4,062,985 shares in the company, valued at approximately $263,850,245.90. The trade was a 2.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sidney J. Feltenstein sold 124,668 shares of Tutor Perini stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $65.96, for a total transaction of $8,223,101.28. Following the sale, the director owned 187,274 shares in the company, valued at approximately $12,352,593.04. This trade represents a 39.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 725,000 shares of company stock worth $44,824,931. 17.30% of the stock is owned by company insiders.

Tutor Perini Stock Performance

NYSE:TPC opened at $63.28 on Thursday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.32 and a current ratio of 1.32. The firm's 50-day moving average is $61.19 and its 200-day moving average is $44.52. Tutor Perini Corporation has a 52-week low of $18.33 and a 52-week high of $68.09. The company has a market cap of $3.34 billion, a price-to-earnings ratio of -25.11 and a beta of 1.86.

Tutor Perini (NYSE:TPC - Get Free Report) last issued its earnings results on Wednesday, August 6th. The construction company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $0.29 by $1.12. Tutor Perini had a negative net margin of 2.77% and a negative return on equity of 6.41%. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same period in the previous year, the business earned $0.02 EPS. The firm's revenue was up 21.8% on a year-over-year basis.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.