Teacher Retirement System of Texas Cuts Holdings in Tutor Perini Co. (NYSE:TPC)

Teacher Retirement System of Texas decreased its position in Tutor Perini Co. (NYSE:TPC) by 53.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 35,284 shares of the construction company’s stock after selling 40,820 shares during the period. Teacher Retirement System of Texas owned 0.07% of Tutor Perini worth $854,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. Barclays PLC increased its position in shares of Tutor Perini by 298.0% during the third quarter. Barclays PLC now owns 69,875 shares of the construction company’s stock valued at $1,898,000 after acquiring an additional 52,319 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Tutor Perini by 611.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 536,384 shares of the construction company’s stock worth $14,568,000 after purchasing an additional 460,945 shares during the period. Geode Capital Management LLC raised its stake in shares of Tutor Perini by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,023,198 shares of the construction company’s stock worth $27,795,000 after purchasing an additional 38,458 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of Tutor Perini by 67.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 93,202 shares of the construction company’s stock worth $2,255,000 after buying an additional 37,478 shares during the last quarter. Finally, State Street Corp grew its position in Tutor Perini by 2.0% during the third quarter. State Street Corp now owns 975,082 shares of the construction company’s stock valued at $26,483,000 after buying an additional 19,518 shares during the period. Institutional investors own 65.01% of the company’s stock.

Tutor Perini Price Performance

TPC opened at $23.57 on Friday. The firm has a 50-day moving average price of $24.41 and a 200-day moving average price of $25.70. Tutor Perini Co. has a twelve month low of $13.15 and a twelve month high of $34.55. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of -9.39 and a beta of 1.73.

Tutor Perini (NYSE:TPC) last released its quarterly earnings data 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). The business had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Tutor Perini had a negative net margin of 3.08% and a negative return on equity of 9.56%. During the same quarter in the prior year, the firm posted ($0.91) earnings per share.

Analysts Set New Price Targets

Several analysts have commented on the stock. StockNews.com lowered shares of Tutor Perini from a “buy” rating to a “hold” rating in a research report on Tuesday, January 28th. B. Riley upgraded Tutor Perini to a “strong-buy” rating in a research note on Tuesday, March 18th. Finally, Vertical Research initiated coverage on Tutor Perini in a research report on Tuesday, December 10th. They issued a “buy” rating and a $38.00 target price for the company.

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.