Tutor Perini Co. (NYSE:TPC) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lowered its holdings in Tutor Perini Co. (NYSE:TPC) by 70.7% in the third quarter, Holdings Channel.com reports. The firm owned 41,931 shares of the construction company’s stock after selling 101,200 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Tutor Perini were worth $1,139,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in TPC. Hennessy Advisors Inc. purchased a new stake in shares of Tutor Perini in the second quarter valued at $12,362,000. American Century Companies Inc. grew its position in Tutor Perini by 59.9% during the second quarter. American Century Companies Inc. now owns 759,665 shares of the construction company’s stock valued at $16,546,000 after acquiring an additional 284,627 shares during the period. Acadian Asset Management LLC grew its position in Tutor Perini by 84.4% during the second quarter. Acadian Asset Management LLC now owns 539,336 shares of the construction company’s stock valued at $11,742,000 after acquiring an additional 246,901 shares during the period. Dimensional Fund Advisors LP grew its position in Tutor Perini by 9.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,399,544 shares of the construction company’s stock valued at $52,263,000 after acquiring an additional 198,348 shares during the period. Finally, Algert Global LLC purchased a new stake in Tutor Perini during the second quarter valued at about $4,138,000. Hedge funds and other institutional investors own 65.01% of the company’s stock.

Tutor Perini Price Performance

Shares of NYSE TPC opened at $27.25 on Thursday. Tutor Perini Co. has a 1-year low of $7.83 and a 1-year high of $34.55. The business has a 50-day moving average of $27.51 and a 200-day moving average of $23.83. 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 company has a market capitalization of $1.43 billion, a price-to-earnings ratio of -10.90 and a beta of 1.50.

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 the consensus estimate 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 during the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the previous year, the company earned ($0.71) EPS. Tutor Perini’s quarterly revenue was up 2.1% on a year-over-year basis. On average, equities analysts anticipate that Tutor Perini Co. will post -1.47 EPS for the current fiscal year.

Insider Transactions at Tutor Perini

In related news, Director Raymond R. Oneglia sold 100,000 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $28.73, for a total value of $2,873,000.00. Following the transaction, the director now owns 400,000 shares in the company, valued at approximately $11,492,000. The trade was a 20.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ronald N. Tutor sold 50,000 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $30.78, for a total value of $1,539,000.00. Following the completion of the transaction, the chief executive officer now owns 2,362,267 shares in the company, valued at approximately $72,710,578.26. This trade represents a 2.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 325,000 shares of company stock valued at $9,686,000 over the last quarter. Company insiders own 19.50% of the company’s stock.

Wall Street Analyst Weigh In

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

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.