Advisors Asset Management Inc. Lowers Position in Tutor Perini Co. (NYSE:TPC)

Advisors Asset Management Inc. cut its stake in Tutor Perini Co. (NYSE:TPC) by 20.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 91,447 shares of the construction company’s stock after selling 24,099 shares during the quarter. Advisors Asset Management Inc. owned 0.17% of Tutor Perini worth $2,213,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. FMR LLC grew its holdings in shares of Tutor Perini by 103.1% in the third quarter. FMR LLC now owns 4,725 shares of the construction company’s stock valued at $128,000 after acquiring an additional 2,399 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Tutor Perini in the third quarter valued at approximately $201,000. EP Wealth Advisors LLC bought a new position in shares of Tutor Perini in the third quarter valued at approximately $234,000. Commonwealth Equity Services LLC grew its holdings in shares of Tutor Perini by 7.3% in the fourth quarter. Commonwealth Equity Services LLC now owns 10,291 shares of the construction company’s stock valued at $249,000 after acquiring an additional 700 shares in the last quarter. Finally, Intech Investment Management LLC bought a new position in shares of Tutor Perini in the third quarter valued at approximately $339,000. 65.01% of the stock is owned by hedge funds and other institutional investors.

Tutor Perini Price Performance

Shares of NYSE TPC opened at $24.54 on Friday. The stock has a fifty day simple moving average of $24.29 and a two-hundred day simple moving average of $25.60. Tutor Perini Co. has a 1-year low of $13.15 and a 1-year high of $34.55. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of -9.78 and a beta of 1.73. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.53.

Tutor Perini (NYSE:TPC) last announced its quarterly earnings data on Thursday, February 27th. The construction company reported ($1.51) earnings per share for the quarter, missing the consensus estimate of $0.29 by ($1.80). Tutor Perini had a negative net margin of 3.08% and a negative return on equity of 9.56%. The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period last year, the company posted ($0.91) earnings per share.

Wall Street Analyst Weigh In

TPC has been the subject of several recent analyst reports. StockNews.com lowered Tutor Perini from a “buy” rating to a “hold” rating in a report on Tuesday, January 28th. Vertical Research initiated coverage on Tutor Perini in a report on Tuesday, December 10th. They issued a “buy” rating and a $38.00 target price for the company. Finally, B. Riley raised Tutor Perini to a “strong-buy” rating in a report on Tuesday, March 18th.

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 in the United States and internationally. It operates through three segments: Civil, Building, and Specialty Contractors.