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

Bank of New York Mellon Corp trimmed its stake in shares of Tutor Perini Co. (NYSE:TPC) by 4.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 118,545 shares of the construction company’s stock after selling 4,929 shares during the quarter. Bank of New York Mellon Corp’s holdings in Tutor Perini were worth $2,869,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in shares of Tutor Perini by 3.9% during the third 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. State Street Corp boosted its holdings in Tutor Perini by 2.0% in the third quarter. State Street Corp now owns 975,082 shares of the construction company’s stock worth $26,483,000 after purchasing an additional 19,518 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in Tutor Perini by 129.4% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 783,396 shares of the construction company’s stock worth $21,277,000 after purchasing an additional 441,858 shares during the last quarter. Hennessy Advisors Inc. raised its holdings in Tutor Perini by 6.8% in the 4th quarter. Hennessy Advisors Inc. now owns 682,981 shares of the construction company’s stock worth $16,528,000 after acquiring an additional 43,600 shares during the period. Finally, Fred Alger Management LLC bought a new stake in Tutor Perini during the 3rd quarter valued at approximately $16,034,000. 65.01% of the stock is owned by institutional investors.

Tutor Perini Stock Performance

Shares of NYSE:TPC opened at $25.57 on Friday. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of -10.19 and a beta of 1.73. The firm’s 50 day simple moving average is $24.28 and its 200 day simple moving average is $25.58. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.55 and a quick ratio of 1.55. Tutor Perini Co. has a fifty-two week low of $13.15 and a fifty-two week high of $34.55.

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 the consensus estimate 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 business 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 firm earned ($0.91) EPS.

Analyst Ratings Changes

A number of research firms recently weighed in on TPC. B. Riley raised Tutor Perini to a “strong-buy” rating in a research report on Tuesday. Vertical Research started coverage on Tutor Perini in a research note on Tuesday, December 10th. They issued a “buy” rating and a $38.00 price objective on the stock. Finally, StockNews.com lowered Tutor Perini from a “buy” rating to a “hold” rating in a research report on Tuesday, January 28th.

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.