Charles Schwab Investment Management Inc. Has $33.59 Million Stake in Tutor Perini Co. (NYSE:TPC)

Charles Schwab Investment Management Inc. trimmed its stake in Tutor Perini Co. (NYSE:TPC) by 23.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,236,687 shares of the construction company’s stock after selling 387,984 shares during the period. Charles Schwab Investment Management Inc. owned about 2.36% of Tutor Perini worth $33,588,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Tutor Perini by 1.1% during the first quarter. Vanguard Group Inc. now owns 2,333,269 shares of the construction company’s stock valued at $33,739,000 after acquiring an additional 25,246 shares during the last quarter. Price T Rowe Associates Inc. MD bought a new stake in Tutor Perini during the first quarter valued at $177,000. CWM LLC boosted its position in Tutor Perini by 142.8% during the second quarter. CWM LLC now owns 1,714 shares of the construction company’s stock valued at $37,000 after acquiring an additional 1,008 shares during the last quarter. Hennessy Advisors Inc. bought a new position in shares of Tutor Perini during the 2nd quarter worth about $12,362,000. Finally, Bank of New York Mellon Corp boosted its position in shares of Tutor Perini by 8.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 155,931 shares of the construction company’s stock worth $3,396,000 after purchasing an additional 12,622 shares in the last quarter. 65.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. B. Riley increased their price objective on shares of Tutor Perini from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. UBS Group upped their target price on shares of Tutor Perini from $27.00 to $39.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, StockNews.com lowered shares of Tutor Perini from a “buy” rating to a “hold” rating in a report on Friday, November 15th.

Tutor Perini Trading Up 0.6 %

Shares of TPC stock opened at $27.32 on Wednesday. The company has a 50 day moving average of $27.63 and a 200-day moving average of $24.05. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.53. Tutor Perini Co. has a 12-month low of $7.83 and a 12-month high of $34.55. The firm has a market cap of $1.43 billion, a P/E ratio of -10.88 and a beta of 1.49.

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

Insider Buying and Selling at Tutor Perini

In related news, CEO Ronald N. Tutor sold 50,000 shares of Tutor Perini stock in a transaction on Friday, November 8th. The shares were sold at an average price of $30.78, for a total value of $1,539,000.00. Following the transaction, the chief executive officer now owns 2,362,267 shares in the company, valued at $72,710,578.26. This trade represents a 2.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Raymond R. Oneglia sold 100,000 shares of Tutor Perini stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $28.73, for a total transaction of $2,873,000.00. Following the completion of the transaction, the director now owns 400,000 shares in the company, valued at approximately $11,492,000. The trade was a 20.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 325,000 shares of company stock valued at $9,686,000 in the last three months. Company insiders own 19.50% of the company’s stock.

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.