MetLife Investment Advisors LLC decreased its holdings in Tutor Perini Corp (NYSE:TPC) by 33.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,192 shares of the construction company’s stock after selling 9,618 shares during the quarter. MetLife Investment Advisors LLC’s holdings in Tutor Perini were worth $306,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. Prudential Financial Inc. bought a new position in Tutor Perini during the third quarter valued at approximately $427,000. United Services Automobile Association lifted its position in Tutor Perini by 4.2% during the third quarter. United Services Automobile Association now owns 99,480 shares of the construction company’s stock valued at $1,870,000 after purchasing an additional 4,026 shares during the period. GSA Capital Partners LLP bought a new position in Tutor Perini during the third quarter valued at approximately $458,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Tutor Perini during the third quarter valued at approximately $260,000. Finally, Teachers Advisors LLC lifted its position in Tutor Perini by 4.5% during the third quarter. Teachers Advisors LLC now owns 80,762 shares of the construction company’s stock valued at $1,518,000 after purchasing an additional 3,480 shares during the period. Institutional investors own 90.80% of the company’s stock.
Several research analysts have weighed in on TPC shares. DA Davidson downgraded shares of Tutor Perini from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $32.00 to $20.00 in a research report on Tuesday, January 22nd. Zacks Investment Research upgraded shares of Tutor Perini from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research report on Wednesday, March 27th. TheStreet upgraded shares of Tutor Perini from a “c+” rating to a “b-” rating in a research report on Wednesday, March 20th. UBS Group downgraded shares of Tutor Perini from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $24.00 to $19.00 in a research report on Friday, February 1st. Finally, MKM Partners set a $27.00 price target on shares of Tutor Perini and gave the stock a “buy” rating in a research report on Thursday, February 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. Tutor Perini has an average rating of “Hold” and a consensus target price of $22.17.
Tutor Perini (NYSE:TPC) last released its quarterly earnings results on Wednesday, February 27th. The construction company reported $0.98 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.17. Tutor Perini had a net margin of 1.87% and a return on equity of 5.56%. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same period last year, the firm earned $1.60 earnings per share. The company’s quarterly revenue was down .8% on a year-over-year basis. On average, equities analysts anticipate that Tutor Perini Corp will post 2.12 EPS for the current year.
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 worldwide. The company operates through three segments: Civil, Building, and Specialty Contractors. The Civil segment engages in the public works construction, replacement, and reconstruction of infrastructure, including highways, bridges, tunnels, mass-transit systems, and water management and wastewater treatment facilities.
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