Foundry Partners LLC Cuts Stake in Tutor Perini Corp (TPC)

Foundry Partners LLC cut its position in Tutor Perini Corp (NYSE:TPC) by 97.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,175 shares of the construction company’s stock after selling 430,990 shares during the period. Foundry Partners LLC’s holdings in Tutor Perini were worth $224,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Bank of Montreal Can increased its holdings in shares of Tutor Perini by 328.5% in the fourth quarter. Bank of Montreal Can now owns 7,550 shares of the construction company’s stock valued at $191,000 after purchasing an additional 5,788 shares during the period. Global X Management Co. LLC increased its holdings in shares of Tutor Perini by 323.9% in the first quarter. Global X Management Co. LLC now owns 11,128 shares of the construction company’s stock valued at $245,000 after purchasing an additional 8,503 shares during the period. Aperio Group LLC increased its holdings in shares of Tutor Perini by 21.3% in the fourth quarter. Aperio Group LLC now owns 12,019 shares of the construction company’s stock valued at $305,000 after purchasing an additional 2,108 shares during the period. Victory Capital Management Inc. increased its holdings in shares of Tutor Perini by 65.9% in the first quarter. Victory Capital Management Inc. now owns 12,223 shares of the construction company’s stock valued at $270,000 after purchasing an additional 4,856 shares during the period. Finally, Guggenheim Capital LLC acquired a new position in shares of Tutor Perini in the fourth quarter valued at about $323,000. 90.21% of the stock is currently owned by institutional investors and hedge funds.

TPC has been the topic of a number of research reports. DA Davidson reissued a “buy” rating on shares of Tutor Perini in a report on Wednesday, February 28th. ValuEngine raised Tutor Perini from a “sell” rating to a “hold” rating in a report on Monday, May 14th. B. Riley cut their price objective on Tutor Perini from $40.00 to $36.00 and set a “buy” rating on the stock in a report on Wednesday, February 28th. Zacks Investment Research raised Tutor Perini from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a report on Wednesday, May 16th. Finally, MKM Partners set a $27.00 target price on Tutor Perini and gave the stock a “buy” rating in a report on Wednesday, February 28th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $31.25.

Tutor Perini opened at $19.10 on Thursday, MarketBeat Ratings reports. The stock has a market cap of $948.52 million, a P/E ratio of 13.26, a P/E/G ratio of 0.84 and a beta of 2.03. Tutor Perini Corp has a 52 week low of $18.55 and a 52 week high of $29.90. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.47.

Tutor Perini (NYSE:TPC) last posted its earnings results on Wednesday, May 9th. The construction company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.22). The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.12 billion. Tutor Perini had a return on equity of 4.95% and a net margin of 2.62%. The firm’s revenue was down 8.0% on a year-over-year basis. During the same period last year, the business earned $0.27 earnings per share. research analysts anticipate that Tutor Perini Corp will post 2.28 earnings per share for the current fiscal year.

In related news, CEO Ronald N. Tutor sold 50,000 shares of the firm’s stock in a transaction dated Monday, June 11th. The stock was sold at an average price of $19.83, for a total transaction of $991,500.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 24.70% of the stock is owned by company insiders.

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.

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

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