Sculati Wealth Management LLC cut its holdings in shares of Tutor Perini Co. (NYSE:TPC - Free Report) by 15.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 130,869 shares of the construction company's stock after selling 23,943 shares during the period. Tutor Perini makes up about 1.2% of Sculati Wealth Management LLC's investment portfolio, making the stock its 21st largest holding. Sculati Wealth Management LLC owned about 0.25% of Tutor Perini worth $3,167,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in TPC. Barclays PLC increased its holdings in shares of Tutor Perini by 298.0% during the third quarter. Barclays PLC now owns 69,875 shares of the construction company's stock valued at $1,898,000 after purchasing an additional 52,319 shares during the period. Franklin Resources Inc. increased its stake in Tutor Perini by 10.4% during the 4th quarter. Franklin Resources Inc. now owns 88,216 shares of the construction company's stock valued at $2,135,000 after buying an additional 8,309 shares during the period. Ameriprise Financial Inc. raised its position in shares of Tutor Perini by 8.8% during the 4th quarter. Ameriprise Financial Inc. now owns 211,843 shares of the construction company's stock worth $5,127,000 after buying an additional 17,217 shares in the last quarter. Deutsche Bank AG lifted its stake in shares of Tutor Perini by 34.2% in the 4th quarter. Deutsche Bank AG now owns 48,285 shares of the construction company's stock worth $1,168,000 after acquiring an additional 12,296 shares during the period. Finally, Empowered Funds LLC boosted its holdings in shares of Tutor Perini by 5.1% in the fourth quarter. Empowered Funds LLC now owns 282,247 shares of the construction company's stock valued at $6,830,000 after acquiring an additional 13,726 shares in the last quarter. 65.01% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on TPC shares. Wall Street Zen upgraded Tutor Perini from a "hold" rating to a "buy" rating in a research report on Thursday, May 8th. UBS Group upped their price objective on Tutor Perini from $40.00 to $41.00 and gave the company a "buy" rating in a report on Friday, May 9th. Finally, B. Riley upgraded shares of Tutor Perini to a "strong-buy" rating in a research report on Tuesday, March 18th.
Get Our Latest Stock Report on TPC
Insider Buying and Selling
In other news, Director Raymond R. Oneglia sold 75,000 shares of Tutor Perini stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $36.23, for a total transaction of $2,717,250.00. Following the transaction, the director now owns 115,470 shares in the company, valued at approximately $4,183,478.10. The trade was a 39.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 17.30% of the company's stock.
Tutor Perini Price Performance
Shares of NYSE TPC traded down $0.30 during trading on Thursday, hitting $37.15. The company had a trading volume of 354,766 shares, compared to its average volume of 550,140. Tutor Perini Co. has a 52 week low of $14.50 and a 52 week high of $38.16. The business's 50-day moving average is $25.98 and its 200 day moving average is $25.54. The company has a market cap of $1.96 billion, a P/E ratio of -14.80 and a beta of 1.62. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.55 and a current ratio of 1.55.
Tutor Perini (NYSE:TPC - Get Free Report) last posted its quarterly earnings data 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. Tutor Perini had a negative return on equity of 9.56% and a negative net margin of 3.08%. The firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the previous year, the company earned $0.30 EPS. The business's revenue for the quarter was up 18.8% compared to the same quarter last year.
About Tutor Perini
(
Free Report)
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.
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