KCG Holdings Inc. cut its stake in Tutor Perini Corporation (NYSE:TPC) by 33.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,500 shares of the construction company’s stock after selling 4,819 shares during the period. KCG Holdings Inc.’s holdings in Tutor Perini Corporation were worth $302,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of TPC. Norges Bank bought a new stake in shares of Tutor Perini Corporation during the fourth quarter valued at $1,646,000. Foundry Partners LLC boosted its position in Tutor Perini Corporation by 15.9% in the first quarter. Foundry Partners LLC now owns 394,070 shares of the construction company’s stock valued at $12,531,000 after buying an additional 54,180 shares during the last quarter. Shell Asset Management Co. acquired a new position in Tutor Perini Corporation during the first quarter valued at about $1,165,000. ClariVest Asset Management LLC boosted its position in Tutor Perini Corporation by 23.8% in the first quarter. ClariVest Asset Management LLC now owns 234,245 shares of the construction company’s stock valued at $7,448,000 after buying an additional 45,000 shares during the last quarter. Finally, KAMES CAPITAL plc acquired a new position in Tutor Perini Corporation during the first quarter valued at about $737,000. 82.15% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Tutor Perini Corporation (NYSE TPC) traded down 1.43% on Friday, reaching $24.15. The company had a trading volume of 227,916 shares. The firm has a market cap of $1.20 billion, a P/E ratio of 11.87 and a beta of 2.42. Tutor Perini Corporation has a one year low of $18.05 and a one year high of $33.00. The company has a 50-day moving average price of $27.47 and a 200-day moving average price of $28.70.
Tutor Perini Corporation (NYSE:TPC) last issued its quarterly earnings data on Monday, August 7th. The construction company reported $0.59 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.02. Tutor Perini Corporation had a return on equity of 6.60% and a net margin of 2.08%. The firm had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter in the previous year, the company posted $0.43 EPS. The business’s revenue for the quarter was down 4.7% compared to the same quarter last year. On average, analysts expect that Tutor Perini Corporation will post $2.27 earnings per share for the current fiscal year.
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Several research analysts have recently issued reports on TPC shares. Canaccord Genuity reissued a “buy” rating on shares of Tutor Perini Corporation in a research note on Friday, June 23rd. BidaskClub raised Tutor Perini Corporation from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 27th. Finally, Zacks Investment Research raised Tutor Perini Corporation from a “hold” rating to a “buy” rating and set a $32.00 price target for the company in a research note on Wednesday, July 5th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company. Tutor Perini Corporation has a consensus rating of “Buy” and an average price target of $31.29.
Tutor Perini Corporation Company Profile
Tutor Perini Corporation is a construction company offering general contracting, construction management and design-build services to private customers and public agencies across the world. The Company operates through three segments: Civil, Building and Specialty Contractors. Its Civil segment specializes in public works construction and the repair, replacement and reconstruction of infrastructure across various geographic regions of the United States.
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