Tutor Perini Co. (NYSE:TPC) Shares Sold by Verition Fund Management LLC

Verition Fund Management LLC lowered its stake in shares of Tutor Perini Co. (NYSE:TPC) by 15.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,173 shares of the construction company’s stock after selling 3,607 shares during the quarter. Verition Fund Management LLC’s holdings in Tutor Perini were worth $521,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CWM LLC boosted its holdings in Tutor Perini by 142.8% in the second 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 period. Allspring Global Investments Holdings LLC bought a new position in shares of Tutor Perini in the 2nd quarter worth about $51,000. Plato Investment Management Ltd acquired a new position in shares of Tutor Perini in the 3rd quarter valued at about $52,000. nVerses Capital LLC bought a new stake in shares of Tutor Perini during the 2nd quarter valued at about $63,000. Finally, Quest Partners LLC raised its stake in Tutor Perini by 537.2% during the second quarter. Quest Partners LLC now owns 4,148 shares of the construction company’s stock worth $90,000 after acquiring an additional 3,497 shares during the period. Institutional investors own 65.01% of the company’s stock.

Insider Buying and Selling

In other Tutor Perini news, CEO Ronald N. Tutor sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $30.78, for a total value of $1,539,000.00. Following the completion of the transaction, the chief executive officer now owns 2,362,267 shares of the company’s stock, valued at $72,710,578.26. This represents a 2.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Raymond R. Oneglia sold 100,000 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $28.73, for a total transaction of $2,873,000.00. Following the completion of the sale, the director now directly owns 400,000 shares in the company, valued at approximately $11,492,000. The trade was a 20.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 325,000 shares of company stock worth $9,686,000. Insiders own 19.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on TPC shares. Vertical Research started coverage on Tutor Perini in a research report on Tuesday. They issued a “buy” rating and a $38.00 target price on the stock. UBS Group increased their price objective on shares of Tutor Perini from $27.00 to $39.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. StockNews.com lowered shares of Tutor Perini from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Finally, B. Riley raised their price target on shares of Tutor Perini from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, November 7th.

Tutor Perini Stock Up 3.4 %

Shares of Tutor Perini stock opened at $27.15 on Thursday. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.53. Tutor Perini Co. has a 12-month low of $7.83 and a 12-month high of $34.55. The firm has a market capitalization of $1.42 billion, a PE ratio of -10.82 and a beta of 1.49. The stock’s fifty day moving average is $27.71 and its 200-day moving average is $24.33.

Tutor Perini (NYSE:TPC) last announced its earnings results 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 firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.17 billion. Tutor Perini had a negative net margin of 3.08% and a negative return on equity of 9.56%. Tutor Perini’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period last year, the firm earned ($0.71) earnings per share. Equities analysts anticipate that Tutor Perini Co. will post -1.47 earnings per share for the current year.

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.