Tutor Perini Co. (NYSE:TPC) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. trimmed its holdings in shares of Tutor Perini Co. (NYSE:TPC) by 31.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,385 shares of the construction company’s stock after selling 11,400 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Tutor Perini were worth $689,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TPC. CWM LLC increased its position in shares of Tutor Perini by 142.8% during the 2nd quarter. CWM LLC now owns 1,714 shares of the construction company’s stock worth $37,000 after purchasing an additional 1,008 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Tutor Perini during the 2nd quarter worth about $51,000. Plato Investment Management Ltd acquired a new stake in shares of Tutor Perini during the 3rd quarter worth about $52,000. nVerses Capital LLC acquired a new stake in shares of Tutor Perini during the 2nd quarter worth about $63,000. Finally, EntryPoint Capital LLC acquired a new position in Tutor Perini in the 1st quarter valued at about $77,000. 65.01% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insider Activity

In related news, CEO Ronald N. Tutor sold 125,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was 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 owns 3,257,313 shares in the company, valued at $100,064,655.36. The trade was a 3.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 19.50% of the company’s stock.

Tutor Perini Stock Performance

NYSE TPC opened at $27.73 on Friday. The stock has a 50-day moving average of $26.70 and a two-hundred day moving average of $23.22. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.55 and a quick ratio of 1.55. The company has a market cap of $1.45 billion, a P/E ratio of -11.05 and a beta of 1.50. Tutor Perini Co. has a 1-year low of $7.74 and a 1-year high of $34.55.

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

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.