Tutor Perini Co. (NYSE:TPC) Position Lessened by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. decreased its stake in Tutor Perini Co. (NYSE:TPC – Get Rating) by 3.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 950,268 shares of the construction company’s stock after selling 30,054 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Tutor Perini were worth $7,175,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. BlackRock Inc. lifted its holdings in shares of Tutor Perini by 5.2% in the 3rd quarter. BlackRock Inc. now owns 5,225,053 shares of the construction company’s stock worth $28,842,000 after purchasing an additional 260,354 shares during the last quarter. Donald Smith & CO. Inc. raised its stake in Tutor Perini by 7.3% during the 3rd quarter. Donald Smith & CO. Inc. now owns 3,197,087 shares of the construction company’s stock valued at $17,648,000 after acquiring an additional 216,857 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Tutor Perini by 2.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,658,964 shares of the construction company’s stock valued at $28,716,000 after acquiring an additional 69,285 shares in the last quarter. State Street Corp raised its stake in Tutor Perini by 0.8% during the 3rd quarter. State Street Corp now owns 1,094,570 shares of the construction company’s stock valued at $6,042,000 after acquiring an additional 9,121 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Tutor Perini by 14.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,075,219 shares of the construction company’s stock valued at $11,613,000 after acquiring an additional 131,866 shares in the last quarter. Institutional investors own 65.86% of the company’s stock.

Tutor Perini Stock Down 5.3 %

Shares of TPC stock opened at $5.85 on Monday. Tutor Perini Co. has a 1 year low of $4.90 and a 1 year high of $10.62. The business’s fifty day moving average is $5.80 and its 200-day moving average is $7.28. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.66.

Tutor Perini (NYSE:TPC – Get Rating) last issued its quarterly earnings results on Wednesday, March 15th. The construction company reported ($1.80) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($1.82). Tutor Perini had a negative net margin of 6.57% and a negative return on equity of 16.06%. The firm had revenue of $906.65 million for the quarter, compared to analyst estimates of $976.17 million. During the same quarter last year, the business posted $0.57 earnings per share. The firm’s revenue for the quarter was down 12.6% compared to the same quarter last year. Analysts forecast that Tutor Perini Co. will post -0.94 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TPC has been the topic of several recent analyst reports. StockNews.com initiated coverage on Tutor Perini in a research note on Thursday. They set a “hold” rating on the stock. B. Riley cut their target price on Tutor Perini from $10.00 to $8.00 in a research note on Friday, March 17th.

Insider Activity

In related news, Director Sidney J. Feltenstein bought 75,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 18th. The shares were acquired at an average cost of $5.96 per share, for a total transaction of $447,000.00. Following the acquisition, the director now directly owns 292,677 shares of the company’s stock, valued at approximately $1,744,354.92. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 21.30% of the stock is owned by insiders.

Tutor Perini Profile

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Tutor Perini Corp. engages in the provision of construction services. It operates through the following business segments: Civil, Building, and Specialty Contractors. The Civil segment specializes in public works construction and the replacement and reconstruction of infrastructure across the major geographic regions of the United States.