Tutor Perini Corporation (NYSE:TPC) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas lessened its stake in Tutor Perini Corporation (NYSE:TPC - Free Report) by 62.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,405 shares of the construction company's stock after selling 21,879 shares during the quarter. Teacher Retirement System of Texas' holdings in Tutor Perini were worth $311,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in TPC. GAMMA Investing LLC increased its stake in shares of Tutor Perini by 32.5% during the first quarter. GAMMA Investing LLC now owns 2,080 shares of the construction company's stock valued at $48,000 after acquiring an additional 510 shares during the period. State of Wyoming increased its holdings in shares of Tutor Perini by 39.7% in the fourth quarter. State of Wyoming now owns 6,212 shares of the construction company's stock valued at $150,000 after buying an additional 1,764 shares in the last quarter. Optimize Financial Inc acquired a new stake in shares of Tutor Perini during the 4th quarter valued at $221,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Tutor Perini during the 4th quarter valued at $232,000. Finally, Commonwealth Equity Services LLC boosted its stake 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 in the last quarter. 65.01% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on TPC shares. B. Riley reaffirmed a "buy" rating and issued a $50.00 price target (up previously from $40.00) on shares of Tutor Perini in a research report on Friday, June 6th. UBS Group boosted their price objective on Tutor Perini from $41.00 to $59.00 and gave the stock a "buy" rating in a research report on Thursday, July 10th. Finally, Wall Street Zen cut Tutor Perini from a "strong-buy" rating to a "buy" rating in a research report on Friday.

Insider Transactions at Tutor Perini

In other news, Director Raymond R. Oneglia sold 25,000 shares of the business'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 transaction, the director directly owned 90,470 shares of the company's stock, valued at $3,269,585.80. The trade was a 21.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Ronald N. Tutor sold 130,478 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $40.93, for a total transaction of $5,340,464.54. Following the sale, the chairman directly owned 4,570,985 shares of the company's stock, valued at approximately $187,090,416.05. This represents a 2.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 410,000 shares of company stock worth $15,891,651 in the last ninety days. Insiders own 17.30% of the company's stock.

Tutor Perini Stock Performance

Shares of Tutor Perini stock traded down $0.43 on Tuesday, reaching $48.55. 484,848 shares of the company traded hands, compared to its average volume of 570,930. Tutor Perini Corporation has a 52 week low of $14.50 and a 52 week high of $51.98. The company has a 50 day moving average of $41.17 and a 200 day moving average of $29.66. The firm has a market capitalization of $2.56 billion, a PE ratio of -16.86 and a beta of 1.79. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 1.33.

Tutor Perini (NYSE:TPC - Get Free Report) last posted 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 business had revenue of $1.25 billion for the quarter, compared to analysts' expectations of $1.08 billion. Tutor Perini had a negative net margin of 3.35% and a negative return on equity of 11.64%. The business's revenue for the quarter was up 18.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.30 EPS.

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.