Hennessy Advisors Inc. Decreases Holdings in Tutor Perini Corporation (TPC)
Hennessy Advisors Inc. cut its stake in shares of Tutor Perini Corporation (NYSE:TPC) by 1.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 128,700 shares of the construction company’s stock after selling 2,500 shares during the period. Hennessy Advisors Inc. owned about 0.26% of Tutor Perini Corporation worth $3,700,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Ameritas Investment Partners Inc. purchased a new stake in Tutor Perini Corporation during the 1st quarter valued at $101,000. Envestnet Asset Management Inc. raised its stake in Tutor Perini Corporation by 8.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 4,516 shares of the construction company’s stock valued at $144,000 after buying an additional 340 shares during the last quarter. Pinnacle Associates Ltd. purchased a new stake in Tutor Perini Corporation during the 1st quarter valued at $205,000. Raymond James Financial Services Advisors Inc. purchased a new stake in Tutor Perini Corporation during the 1st quarter valued at $218,000. Finally, BNP Paribas Arbitrage SA raised its stake in Tutor Perini Corporation by 239.8% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 8,112 shares of the construction company’s stock valued at $233,000 after buying an additional 5,725 shares during the last quarter. Institutional investors and hedge funds own 81.11% of the company’s stock.
Shares of Tutor Perini Corporation (NYSE TPC) opened at 25.95 on Friday. Tutor Perini Corporation has a 12 month low of $18.05 and a 12 month high of $33.00. The company has a market cap of $1.29 billion, a P/E ratio of 12.76 and a beta of 2.45. The stock’s 50 day moving average is $26.03 and its 200-day moving average is $28.21.
Tutor Perini Corporation (NYSE:TPC) last released its quarterly earnings results on Monday, August 7th. The construction company reported $0.59 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.02. The company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.42 billion. Tutor Perini Corporation had a net margin of 2.08% and a return on equity of 6.60%. The firm’s revenue was down 4.7% on a year-over-year basis. During the same quarter last year, the business earned $0.43 earnings per share. On average, equities analysts forecast that Tutor Perini Corporation will post $2.26 EPS for the current year.
A number of equities research analysts have weighed in on TPC shares. Canaccord Genuity reiterated a “buy” rating on shares of Tutor Perini Corporation in a research note on Friday, June 23rd. BidaskClub raised shares of Tutor Perini Corporation from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 27th. Zacks Investment Research raised shares of Tutor Perini Corporation from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a research report on Wednesday, July 5th. Finally, KeyCorp reissued a “hold” rating on shares of Tutor Perini Corporation in a research report on Friday, August 25th. 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. Tutor Perini Corporation has a consensus rating of “Hold” and a consensus price target of $31.29.
In other news, major shareholder N. Tutor Separate Prope Ronald sold 25,000 shares of Tutor Perini Corporation stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $26.11, for a total value of $652,750.00. Following the sale, the insider now owns 5,923,120 shares in the company, valued at $154,652,663.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 24.50% of the stock is currently owned by company insiders.
Tutor Perini Corporation Profile
Tutor Perini Corporation is a construction company offering general contracting, construction management and design-build services to private customers and public agencies across the world. The Company operates through three segments: Civil, Building and Specialty Contractors. Its Civil segment specializes in public works construction and the repair, replacement and reconstruction of infrastructure across various geographic regions of the United States.
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