Los Angeles Capital Management LLC Lowers Stake in Tutor Perini Co. (NYSE:TPC)

Los Angeles Capital Management LLC lowered its stake in shares of Tutor Perini Co. (NYSE:TPC) by 17.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 48,651 shares of the construction company’s stock after selling 9,960 shares during the period. Los Angeles Capital Management LLC owned approximately 0.09% of Tutor Perini worth $1,177,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Plato Investment Management Ltd purchased a new position in shares of Tutor Perini during the 3rd quarter worth approximately $52,000. FMR LLC boosted its position in shares of Tutor Perini by 103.1% during the 3rd 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. Y Intercept Hong Kong Ltd acquired a new position in shares of Tutor Perini in the third quarter valued at approximately $201,000. EP Wealth Advisors LLC acquired a new position in shares of Tutor Perini in the third quarter valued at approximately $234,000. Finally, Intech Investment Management LLC acquired a new position in shares of Tutor Perini in the third quarter valued at approximately $339,000. Hedge funds and other institutional investors own 65.01% of the company’s stock.

Tutor Perini Stock Up 34.6 %

TPC stock opened at $29.44 on Friday. The company’s 50 day moving average price is $23.95 and its 200 day moving average price is $25.26. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.55 and a current ratio of 1.55. Tutor Perini Co. has a fifty-two week low of $10.32 and a fifty-two week high of $34.55. The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of -11.73 and a beta of 1.52.

Tutor Perini (NYSE:TPC) last released its earnings results on Thursday, February 27th. The construction company reported ($1.51) earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($1.80). Tutor Perini had a negative return on equity of 9.56% and a negative net margin of 3.08%. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the previous year, the company posted ($0.91) earnings per share.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on TPC. Vertical Research began coverage on shares of Tutor Perini in a report on Tuesday, December 10th. They issued a “buy” rating and a $38.00 price objective for the company. StockNews.com cut shares of Tutor Perini from a “buy” rating to a “hold” rating in a report on Tuesday, January 28th. Finally, B. Riley lifted their price objective on shares of Tutor Perini from $38.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, November 7th.

About Tutor Perini

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.