Los Angeles Capital Management LLC Trims Stake in Tutor Perini Co. (NYSE:TPC)

Los Angeles Capital Management LLC decreased its position in shares of Tutor Perini Co. (NYSE:TPC) by 12.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 58,611 shares of the construction company’s stock after selling 8,431 shares during the period. Los Angeles Capital Management LLC owned 0.11% of Tutor Perini worth $1,592,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. US Bancorp DE raised its position in Tutor Perini by 19,259.7% in the 3rd quarter. US Bancorp DE now owns 14,907 shares of the construction company’s stock worth $405,000 after purchasing an additional 14,830 shares during the period. Pinnacle Associates Ltd. raised its position in Tutor Perini by 3.6% during the 3rd quarter. Pinnacle Associates Ltd. now owns 296,235 shares of the construction company’s stock valued at $8,046,000 after purchasing an additional 10,218 shares in the last quarter. Creative Planning grew its position in shares of Tutor Perini by 62.2% during the 3rd quarter. Creative Planning now owns 23,256 shares of the construction company’s stock worth $632,000 after buying an additional 8,917 shares in the last quarter. USA Financial Formulas raised its holdings in shares of Tutor Perini by 19.6% in the third quarter. USA Financial Formulas now owns 3,451 shares of the construction company’s stock valued at $94,000 after acquiring an additional 566 shares in the last quarter. Finally, CWM LLC raised its holdings in shares of Tutor Perini by 53.0% in the third quarter. CWM LLC now owns 2,622 shares of the construction company’s stock valued at $71,000 after acquiring an additional 908 shares in the last quarter. 65.01% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Ronald N. Tutor sold 125,000 shares of Tutor Perini stock in a transaction on Monday, November 11th. The shares were sold at an average price of $30.72, for a total transaction of $3,840,000.00. Following the completion of the sale, the chief executive officer now directly owns 3,257,313 shares in the company, valued at approximately $100,064,655.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Tutor Perini news, CEO Ronald N. Tutor sold 50,000 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $30.78, for a total transaction of $1,539,000.00. Following the sale, the chief executive officer now owns 2,362,267 shares in the company, valued at approximately $72,710,578.26. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ronald N. Tutor sold 125,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $30.72, for a total value of $3,840,000.00. Following the completion of the transaction, the chief executive officer now owns 3,257,313 shares of the company’s stock, valued at approximately $100,064,655.36. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 19.50% of the company’s stock.

Tutor Perini Stock Performance

TPC stock opened at $28.20 on Thursday. The firm has a 50-day simple moving average of $26.48 and a two-hundred day simple moving average of $23.12. 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 one year low of $7.74 and a one year high of $34.55. The firm has a market cap of $1.48 billion, a price-to-earnings ratio of -11.24 and a beta of 1.50.

Tutor Perini (NYSE:TPC) last posted its quarterly earnings data on Wednesday, November 6th. The construction company reported ($1.92) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.89) by ($0.03). Tutor Perini had a negative return on equity of 9.56% and a negative net margin of 3.08%. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same period in the previous year, the business earned ($0.71) EPS. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, equities analysts forecast that Tutor Perini Co. will post -1.47 EPS for the current fiscal year.

Analyst Ratings Changes

TPC has been the topic of a number of research reports. StockNews.com raised shares of Tutor Perini from a “hold” rating to a “buy” rating in a research report on Thursday, November 7th. UBS Group lifted their price objective on shares of Tutor Perini from $27.00 to $39.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, B. Riley upped their target price on Tutor Perini from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, November 7th.

Tutor Perini 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.