California State Teachers Retirement System trimmed its position in shares of Tutor Perini Corp (NYSE:TPC) by 9.7% during the third quarter, HoldingsChannel reports. The institutional investor owned 59,835 shares of the construction company’s stock after selling 6,410 shares during the quarter. California State Teachers Retirement System’s holdings in Tutor Perini were worth $1,699,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TPC. SG Americas Securities LLC bought a new position in Tutor Perini during the 3rd quarter worth approximately $135,000. Victory Capital Management Inc. grew its position in Tutor Perini by 119.4% during the 3rd quarter. Victory Capital Management Inc. now owns 6,877 shares of the construction company’s stock worth $195,000 after acquiring an additional 3,743 shares during the last quarter. Macquarie Group Ltd. bought a new position in Tutor Perini during the 3rd quarter worth approximately $207,000. BNP Paribas Arbitrage SA grew its position in Tutor Perini by 239.8% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 8,112 shares of the construction company’s stock worth $233,000 after acquiring an additional 5,725 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in Tutor Perini during the 3rd quarter worth approximately $282,000. 81.78% of the stock is currently owned by institutional investors.

TPC has been the topic of several recent research reports. Seaport Global Securities lowered Tutor Perini from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $40.00 to $31.00 in a research report on Wednesday, October 11th. B. Riley reduced their price target on Tutor Perini from $37.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday, November 14th. reduced their price target on Tutor Perini from $37.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, November 15th. Canaccord Genuity reduced their price target on Tutor Perini from $35.00 to $32.00 and set a “buy” rating on the stock in a research report on Friday, November 10th. Finally, ValuEngine lowered Tutor Perini from a “buy” rating to a “hold” rating in a research report on Friday, November 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $33.83.

In other news, major shareholder N. Tutor Separate Prope Ronald sold 25,000 shares of Tutor Perini stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $25.60, for a total value of $640,000.00. Following the sale, the insider now directly owns 5,798,120 shares in the company, valued at approximately $148,431,872. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Dale Ann Reiss sold 4,829 shares of Tutor Perini stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $27.28, for a total value of $131,735.12. Following the completion of the sale, the director now owns 20,625 shares in the company, valued at $562,650. The disclosure for this sale can be found here. Over the last quarter, insiders sold 54,829 shares of company stock worth $1,400,985. Corporate insiders own 24.50% of the company’s stock.

Tutor Perini Corp (TPC) opened at $27.05 on Friday. The stock has a market capitalization of $1,350.00, a P/E ratio of 14.02, a P/E/G ratio of 1.02 and a beta of 2.37. Tutor Perini Corp has a 1 year low of $22.60 and a 1 year high of $33.00. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.52.

Tutor Perini (NYSE:TPC) last issued its quarterly earnings data on Thursday, November 9th. The construction company reported $0.47 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.69 by ($0.22). The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.54 billion. Tutor Perini had a return on equity of 6.16% and a net margin of 2.03%. Tutor Perini’s quarterly revenue was down 10.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.57 earnings per share. analysts predict that Tutor Perini Corp will post 1.83 earnings per share for the current year.

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

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