Westside Investment Management Inc. Has $6.01 Million Stake in Tutor Perini Co. (NYSE:TPC)

Westside Investment Management Inc. decreased its holdings in Tutor Perini Co. (NYSE:TPC) by 2.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 248,203 shares of the construction company’s stock after selling 5,545 shares during the period. Tutor Perini comprises 1.3% of Westside Investment Management Inc.’s portfolio, making the stock its 18th largest holding. Westside Investment Management Inc. owned about 0.47% of Tutor Perini worth $6,007,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. USA Financial Formulas grew its stake in shares of Tutor Perini by 19.6% in the 3rd quarter. USA Financial Formulas now owns 3,451 shares of the construction company’s stock valued at $94,000 after buying an additional 566 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Tutor Perini by 3.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,874 shares of the construction company’s stock valued at $368,000 after buying an additional 571 shares in the last quarter. CWM LLC grew its stake in shares of Tutor Perini by 53.0% in the 3rd quarter. CWM LLC now owns 2,622 shares of the construction company’s stock valued at $71,000 after buying an additional 908 shares in the last quarter. Plato Investment Management Ltd bought a new stake in Tutor Perini during the third quarter worth approximately $52,000. Finally, FMR LLC boosted its position in Tutor Perini by 103.1% during the third quarter. FMR LLC now owns 4,725 shares of the construction company’s stock worth $128,000 after purchasing an additional 2,399 shares during the period. Institutional investors own 65.01% of the company’s stock.

Tutor Perini Stock Up 0.8 %

TPC opened at $27.64 on Wednesday. Tutor Perini Co. has a 1-year low of $8.34 and a 1-year high of $34.55. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of -7.88 and a beta of 1.54. The business has a 50 day moving average of $26.00 and a 200-day moving average of $25.06.

Tutor Perini (NYSE:TPC) last posted its quarterly earnings data on Wednesday, November 6th. The construction company reported ($1.92) earnings per share for the quarter, missing the consensus estimate of ($1.89) by ($0.03). Tutor Perini had a negative net margin of 3.08% and a negative return on equity of 9.56%. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the prior year, the company posted ($0.71) earnings per share. The firm’s revenue was up 2.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Tutor Perini Co. will post -1.47 earnings per share for the current year.

Insider Activity

In related news, CEO Ronald N. Tutor sold 125,000 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $30.72, for a total value of $3,840,000.00. Following the completion of the transaction, the chief executive officer now directly owns 3,257,313 shares in the company, valued at approximately $100,064,655.36. This represents a 3.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Raymond R. Oneglia sold 50,000 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $28.68, for a total value of $1,434,000.00. Following the completion of the transaction, the director now owns 250,000 shares of the company’s stock, valued at $7,170,000. The trade was a 16.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 325,000 shares of company stock valued at $9,686,000. 19.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on TPC shares. Vertical Research started coverage on Tutor Perini in a research report on Tuesday, December 10th. They set a “buy” rating and a $38.00 target price for the company. StockNews.com raised Tutor Perini from a “hold” rating to a “buy” rating in a research report on Friday, January 3rd. B. Riley upped their target price on Tutor Perini from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, UBS Group upped their target price on Tutor Perini from $27.00 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd.

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.