Tutor Perini Corp (TPC) Shares Sold by Daiwa Securities Group Inc.

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Daiwa Securities Group Inc. reduced its holdings in shares of Tutor Perini Corp (NYSE:TPC) by 13.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 190,600 shares of the construction company’s stock after selling 29,600 shares during the quarter. Daiwa Securities Group Inc. owned 0.38% of Tutor Perini worth $3,583,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. Frontier Capital Management Co. LLC lifted its holdings in shares of Tutor Perini by 3.1% during the third quarter. Frontier Capital Management Co. LLC now owns 4,157,638 shares of the construction company’s stock valued at $78,164,000 after purchasing an additional 126,831 shares in the last quarter. Boston Partners lifted its holdings in shares of Tutor Perini by 6.9% during the second quarter. Boston Partners now owns 2,811,270 shares of the construction company’s stock valued at $51,868,000 after purchasing an additional 182,040 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Tutor Perini by 1.7% during the second quarter. BlackRock Inc. now owns 2,563,435 shares of the construction company’s stock valued at $47,295,000 after purchasing an additional 42,243 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Tutor Perini by 15.3% during the third quarter. Russell Investments Group Ltd. now owns 1,504,798 shares of the construction company’s stock valued at $28,289,000 after purchasing an additional 199,814 shares in the last quarter. Finally, Towle & Co. lifted its holdings in shares of Tutor Perini by 9.2% during the second quarter. Towle & Co. now owns 1,044,940 shares of the construction company’s stock valued at $19,279,000 after purchasing an additional 88,370 shares in the last quarter. 87.33% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts have recently issued reports on TPC shares. ValuEngine downgraded Tutor Perini from a “sell” rating to a “strong sell” rating in a report on Saturday, September 22nd. B. Riley lowered their price target on Tutor Perini from $28.00 to $26.00 and set a “buy” rating on the stock in a report on Wednesday, August 8th. Zacks Investment Research downgraded Tutor Perini from a “buy” rating to a “hold” rating in a report on Thursday, July 12th. MKM Partners set a $28.00 price target on Tutor Perini and gave the company a “buy” rating in a report on Tuesday, August 28th. Finally, UBS Group set a $24.00 price target on Tutor Perini and gave the company a “buy” rating in a report on Thursday. Two analysts have rated the stock with a sell rating and eight have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $28.50.

Tutor Perini stock opened at $17.79 on Friday. The firm has a market cap of $910.30 million, a P/E ratio of 12.35, a PEG ratio of 0.85 and a beta of 2.08. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.97 and a quick ratio of 1.97. Tutor Perini Corp has a one year low of $14.92 and a one year high of $28.30.

Tutor Perini (NYSE:TPC) last posted its quarterly earnings data on Wednesday, November 7th. The construction company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.32). The firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.35 billion. Tutor Perini had a net margin of 2.58% and a return on equity of 4.55%. The firm’s revenue was down 6.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.47 EPS. As a group, research analysts anticipate that Tutor Perini Corp will post 2.13 earnings per share for the current year.

In related news, major shareholder N. Tutor Separate Prope Ronald sold 12,618 shares of the company’s stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $20.32, for a total transaction of $256,397.76. Following the completion of the sale, the insider now owns 5,698,983 shares in the company, valued at $115,803,334.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Ronald N. Tutor sold 32,574 shares of the company’s stock in a transaction on Tuesday, August 28th. The shares were sold at an average price of $20.10, for a total value of $654,737.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 117,574 shares of company stock valued at $2,367,300. 24.50% of the stock is owned by company insiders.

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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 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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Institutional Ownership by Quarter for Tutor Perini (NYSE:TPC)

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