Argyle Capital Management Inc. decreased its position in shares of Tutor Perini Corp. (NYSE:TPC) by 6.0% during the second quarter, Holdings Channel reports. The fund owned 15,766 shares of the company’s stock after selling 1,000 shares during the period. Argyle Capital Management Inc.’s holdings in Tutor Perini Corp. were worth $371,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Peconic Partners LLC increased its position in Tutor Perini Corp. by 22.9% in the first quarter. Peconic Partners LLC now owns 1,165,397 shares of the company’s stock worth $18,110,000 after buying an additional 217,470 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its position in Tutor Perini Corp. by 1.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 985,170 shares of the company’s stock worth $15,310,000 after buying an additional 16,868 shares during the last quarter. Foundry Partners LLC bought a new position in Tutor Perini Corp. during the second quarter worth about $11,588,000. Apex Capital Management increased its position in Tutor Perini Corp. by 19.4% in the first quarter. Apex Capital Management now owns 460,639 shares of the company’s stock worth $7,158,000 after buying an additional 74,779 shares during the last quarter. Finally, Artemis Investment Management LLP bought a new position in Tutor Perini Corp. during the second quarter worth about $8,597,000. Institutional investors own 82.48% of the company’s stock.
Tutor Perini Corp. (NYSE:TPC) traded down 0.85% during mid-day trading on Monday, hitting $21.01. 235,067 shares of the stock traded hands. The firm has a market cap of $1.03 billion, a P/E ratio of 16.04 and a beta of 2.46. Tutor Perini Corp. has a 52-week low of $10.16 and a 52-week high of $25.98. The firm’s 50-day moving average is $22.67 and its 200 day moving average is $20.66.
Tutor Perini Corp. (NYSE:TPC) last issued its earnings results on Tuesday, August 2nd. The company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by $0.08. Tutor Perini Corp. had a return on equity of 5.49% and a net margin of 1.32%. The firm earned $1.31 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the prior year, the business posted $0.41 EPS. The firm’s revenue for the quarter was down .3% on a year-over-year basis. Equities analysts predict that Tutor Perini Corp. will post $2.04 EPS for the current fiscal year.
A number of research analysts recently issued reports on TPC shares. MKM Partners started coverage on shares of Tutor Perini Corp. in a research report on Wednesday, June 29th. They set a “neutral” rating and a $23.00 target price on the stock. Canaccord Genuity reiterated a “buy” rating and set a $30.00 target price on shares of Tutor Perini Corp. in a research report on Thursday, August 4th. TheStreet downgraded shares of Tutor Perini Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, August 3rd. FBR & Co restated an “outperform” rating and set a $26.00 price target (up previously from $22.00) on shares of Tutor Perini Corp. in a research note on Thursday, June 30th. Finally, Zacks Investment Research lowered shares of Tutor Perini Corp. from a “hold” rating to a “sell” rating in a research note on Friday, August 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. Tutor Perini Corp. currently has a consensus rating of “Hold” and a consensus price target of $24.29.
About Tutor Perini Corp.
Tutor Perini Corporation, formerly Perini Corporation, is a construction company offering general contracting, construction management and design-build services to private customers and public agencies. The Company operates through three segments. The Civil segment specializes in public works construction and the repair, replacement and reconstruction of infrastructure.
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