Charles Schwab Investment Management Inc. Sells 387,984 Shares of Tutor Perini Co. (NYSE:TPC)

Charles Schwab Investment Management Inc. lessened its position in Tutor Perini Co. (NYSE:TPC) by 23.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,236,687 shares of the construction company’s stock after selling 387,984 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Tutor Perini were worth $33,588,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TPC. Massachusetts Financial Services Co. MA purchased a new position in shares of Tutor Perini during the third quarter valued at approximately $359,000. Foundry Partners LLC raised its holdings in shares of Tutor Perini by 18.2% during the third quarter. Foundry Partners LLC now owns 216,915 shares of the construction company’s stock valued at $5,891,000 after purchasing an additional 33,440 shares during the last quarter. Intech Investment Management LLC purchased a new position in shares of Tutor Perini during the third quarter valued at approximately $339,000. Advisors Asset Management Inc. raised its holdings in shares of Tutor Perini by 7.6% during the third quarter. Advisors Asset Management Inc. now owns 115,546 shares of the construction company’s stock valued at $3,138,000 after purchasing an additional 8,153 shares during the last quarter. Finally, Segall Bryant & Hamill LLC purchased a new position in shares of Tutor Perini during the third quarter valued at approximately $1,410,000. Institutional investors own 65.01% of the company’s stock.

Insider Buying and Selling at Tutor Perini

In related news, Director Raymond R. Oneglia sold 100,000 shares of Tutor Perini stock in a transaction dated Wednesday, November 20th. The shares were 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 directly owns 400,000 shares of the company’s stock, valued at approximately $11,492,000. The trade was a 20.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ronald N. Tutor sold 125,000 shares of Tutor Perini stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $30.72, for a total transaction of $3,840,000.00. Following the transaction, the chief executive officer now directly owns 3,257,313 shares of the company’s stock, valued at approximately $100,064,655.36. This represents a 3.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 325,000 shares of company stock worth $9,686,000 over the last 90 days. 19.50% of the stock is owned by insiders.

Tutor Perini Stock Performance

Shares of NYSE TPC opened at $27.32 on Wednesday. The firm has a fifty day moving average price of $27.63 and a 200-day moving average price of $24.05. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.55 and a quick ratio of 1.55. The stock has a market cap of $1.43 billion, a PE ratio of -10.88 and a beta of 1.49. Tutor Perini Co. has a 1 year low of $7.83 and a 1 year high of $34.55.

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

Analyst Ratings Changes

A number of analysts have commented on TPC shares. StockNews.com cut shares of Tutor Perini from a “buy” rating to a “hold” rating in a report on Friday, November 15th. B. Riley upped their target price on shares of Tutor Perini from $38.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, UBS Group upped their target price on shares of Tutor Perini from $27.00 to $39.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd.

Tutor Perini 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.