Invesco Ltd. Sells 342,683 Shares of Tutor Perini Co. (NYSE:TPC)

Invesco Ltd. trimmed its holdings in shares of Tutor Perini Co. (NYSE:TPC - Free Report) by 37.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 578,587 shares of the construction company's stock after selling 342,683 shares during the period. Invesco Ltd. owned 1.10% of Tutor Perini worth $14,002,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TPC. Commonwealth Equity Services LLC boosted its position in shares of Tutor Perini by 7.3% in the 4th quarter. Commonwealth Equity Services LLC now owns 10,291 shares of the construction company's stock worth $249,000 after purchasing an additional 700 shares during the last quarter. FMR LLC increased its stake in shares of Tutor Perini by 103.1% in the 3rd quarter. FMR LLC now owns 4,725 shares of the construction company's stock valued at $128,000 after acquiring an additional 2,399 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of Tutor Perini by 46.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 14,581 shares of the construction company's stock valued at $353,000 after acquiring an additional 4,649 shares during the period. Wells Fargo & Company MN grew its holdings in Tutor Perini by 11.7% during the fourth quarter. Wells Fargo & Company MN now owns 52,960 shares of the construction company's stock valued at $1,282,000 after purchasing an additional 5,533 shares during the period. Finally, Franklin Resources Inc. raised its holdings in Tutor Perini by 10.4% in the fourth quarter. Franklin Resources Inc. now owns 88,216 shares of the construction company's stock worth $2,135,000 after purchasing an additional 8,309 shares during the period. 65.01% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on TPC. StockNews.com lowered Tutor Perini from a "buy" rating to a "hold" rating in a research report on Tuesday, January 28th. B. Riley raised Tutor Perini to a "strong-buy" rating in a research report on Tuesday, March 18th.

Tutor Perini Stock Performance

Shares of TPC stock traded up $0.65 during midday trading on Friday, hitting $21.90. 425,531 shares of the company were exchanged, compared to its average volume of 535,703. The firm has a market capitalization of $1.15 billion, a P/E ratio of -8.73 and a beta of 1.47. 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 Co. has a 52 week low of $14.50 and a 52 week high of $34.55. The firm's 50 day moving average price is $23.19 and its two-hundred day moving average price is $25.04.

Tutor Perini (NYSE:TPC - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The construction company reported ($1.51) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($1.80). Tutor Perini had a negative net margin of 3.08% and a negative return on equity of 9.56%. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter last year, the firm earned ($0.91) earnings per share.

About Tutor Perini

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.