Tutor Perini Co. (NYSE:TPC) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its holdings in Tutor Perini Co. (NYSE:TPC) by 4.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 118,545 shares of the construction company’s stock after selling 4,929 shares during the period. Bank of New York Mellon Corp owned about 0.23% of Tutor Perini worth $2,869,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. FMR LLC grew its holdings in Tutor Perini by 103.1% in the 3rd quarter. FMR LLC now owns 4,725 shares of the construction company’s stock valued at $128,000 after buying an additional 2,399 shares in the last quarter. Martingale Asset Management L P grew its holdings in Tutor Perini by 21.8% during the 3rd quarter. Martingale Asset Management L P now owns 20,806 shares of the construction company’s stock worth $565,000 after acquiring an additional 3,721 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Tutor Perini by 7.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 60,331 shares of the construction company’s stock valued at $1,639,000 after acquiring an additional 4,070 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Tutor Perini by 35.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 22,827 shares of the construction company’s stock valued at $620,000 after buying an additional 5,953 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in Tutor Perini during the 3rd quarter worth approximately $201,000. 65.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TPC has been the subject of several analyst reports. Vertical Research assumed coverage on Tutor Perini in a research note on Tuesday, December 10th. They set a “buy” rating and a $38.00 price objective for the company. StockNews.com lowered shares of Tutor Perini from a “buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Finally, B. Riley raised shares of Tutor Perini to a “strong-buy” rating in a research note on Tuesday.

Tutor Perini Trading Down 0.6 %

TPC opened at $25.57 on Friday. The firm has a market capitalization of $1.34 billion, a P/E ratio of -10.19 and a beta of 1.73. The firm’s 50 day moving average is $24.28 and its 200-day moving average is $25.58. 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 52-week low of $13.15 and a 52-week high of $34.55.

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

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.