Verus Capital Partners LLC Reduces Stock Holdings in Tutor Perini Co. (NYSE:TPC)

Verus Capital Partners LLC trimmed its position in shares of Tutor Perini Co. (NYSE:TPC) by 6.4% during the 3rd quarter, Holdings Channel reports. The firm owned 323,620 shares of the construction company’s stock after selling 22,280 shares during the period. Tutor Perini comprises 0.8% of Verus Capital Partners LLC’s investment portfolio, making the stock its 24th biggest position. Verus Capital Partners LLC’s holdings in Tutor Perini were worth $8,790,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. USA Financial Formulas increased its holdings 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 acquiring an additional 566 shares during the period. The Manufacturers Life Insurance Company lifted its stake in 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 worth $368,000 after purchasing 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 during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of Tutor Perini in the 2nd quarter worth approximately $51,000. Finally, Rhumbline Advisers increased its stake in Tutor Perini by 3.1% during the 2nd quarter. Rhumbline Advisers now owns 84,385 shares of the construction company’s stock worth $1,838,000 after buying an additional 2,534 shares during the period. 65.01% of the stock is owned by hedge funds and other institutional investors.

Tutor Perini Stock Up 0.3 %

Shares of NYSE:TPC opened at $30.59 on Tuesday. The stock has a market cap of $1.60 billion, a price-to-earnings ratio of -12.19 and a beta of 1.50. The company has a 50 day moving average of $26.21 and a 200-day moving average of $23.00. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.55 and a quick ratio of 1.65. Tutor Perini Co. has a one year low of $7.22 and a one year high of $34.55.

Tutor Perini (NYSE:TPC) last released its quarterly earnings results 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 return on equity of 9.56% and a negative net margin of 3.08%. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period in the previous year, the business posted ($0.71) earnings per share. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, sell-side analysts forecast that Tutor Perini Co. will post -1.47 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on TPC shares. StockNews.com upgraded Tutor Perini from a “hold” rating to a “buy” rating in a research note on Thursday, November 7th. UBS Group upped their price objective on shares of Tutor Perini from $27.00 to $39.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, B. Riley upped their target price on Tutor Perini from $38.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, November 7th.

Tutor Perini 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.