Public Employees Retirement Association of Colorado Lowers Stock Holdings in Tutor Perini Co. (NYSE:TPC)

Public Employees Retirement Association of Colorado lessened its position in Tutor Perini Co. (NYSE:TPC) by 10.7% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 7,551 shares of the construction company’s stock after selling 906 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Tutor Perini were worth $164,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. CWM LLC increased its stake in Tutor Perini by 142.8% during the second quarter. CWM LLC now owns 1,714 shares of the construction company’s stock worth $37,000 after purchasing an additional 1,008 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in Tutor Perini during the 2nd quarter worth approximately $51,000. nVerses Capital LLC purchased a new stake in Tutor Perini during the 2nd quarter worth approximately $63,000. EntryPoint Capital LLC acquired a new stake in Tutor Perini during the 1st quarter worth approximately $77,000. Finally, Quest Partners LLC boosted its position in Tutor Perini by 537.2% in the 2nd quarter. Quest Partners LLC now owns 4,148 shares of the construction company’s stock valued at $90,000 after buying an additional 3,497 shares during the period. Institutional investors and hedge funds own 65.01% of the company’s stock.

Analysts Set New Price Targets

Separately, UBS Group upgraded Tutor Perini from a “neutral” rating to a “buy” rating and increased their price objective for the company from $14.00 to $27.00 in a research note on Friday, June 14th.

Tutor Perini Stock Up 0.9 %

TPC stock opened at $25.84 on Monday. The company’s 50 day moving average price is $22.84 and its 200 day moving average price is $20.05. The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of -12.67 and a beta of 1.51. Tutor Perini Co. has a fifty-two week low of $6.85 and a fifty-two week high of $27.05. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.65 and a current ratio of 1.65.

Tutor Perini (NYSE:TPC) last announced its quarterly earnings data on Thursday, August 1st. The construction company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.15). The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Tutor Perini had a negative net margin of 1.59% and a negative return on equity of 4.49%. The company’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same period in the prior year, the company posted ($0.72) earnings per share. On average, equities research analysts anticipate that Tutor Perini Co. will post 1.12 EPS for the current fiscal year.

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.