BNP Paribas Financial Markets Cuts Stock Position in Tutor Perini Co. (NYSE:TPC)

BNP Paribas Financial Markets decreased its position in Tutor Perini Co. (NYSE:TPC) by 65.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,360 shares of the construction company’s stock after selling 31,445 shares during the period. BNP Paribas Financial Markets’ holdings in Tutor Perini were worth $444,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. CWM LLC lifted its position in shares of 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 acquiring an additional 1,008 shares in the last quarter. Plato Investment Management Ltd bought a new stake in shares of Tutor Perini in the 3rd quarter worth approximately $52,000. Allspring Global Investments Holdings LLC bought a new position in shares of Tutor Perini during the second quarter valued at about $51,000. nVerses Capital LLC purchased a new position in Tutor Perini in the 2nd quarter worth approximately $63,000. Finally, USA Financial Formulas raised its holdings in Tutor Perini by 19.6% during the 3rd quarter. USA Financial Formulas now owns 3,451 shares of the construction company’s stock valued at $94,000 after buying an additional 566 shares during the last quarter. Institutional investors own 65.01% of the company’s stock.

Insider Buying and Selling at Tutor Perini

In other news, CEO Ronald N. Tutor sold 125,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were 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 trade represents a 3.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Raymond R. Oneglia sold 100,000 shares of the company’s stock in a transaction on 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 completion of the sale, the director now owns 400,000 shares of the company’s stock, valued at $11,492,000. This represents a 20.00 % 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.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on TPC shares. Vertical Research began coverage on Tutor Perini in a research report on Tuesday, December 10th. They issued a “buy” rating and a $38.00 price objective on the stock. StockNews.com downgraded Tutor Perini from a “buy” rating to a “hold” rating in a report on Friday, November 15th. B. Riley lifted their target price on Tutor Perini from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, UBS Group boosted their target price on shares of Tutor Perini from $27.00 to $39.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd.

Tutor Perini Trading Up 0.5 %

Shares of NYSE:TPC opened at $26.20 on Friday. The stock has a 50 day moving average of $27.66 and a 200 day moving average of $24.40. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.53. The company has a market cap of $1.37 billion, a PE ratio of -10.44 and a beta of 1.49. Tutor Perini Co. has a 12-month low of $7.83 and a 12-month high of $34.55.

Tutor Perini (NYSE:TPC) last posted 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). The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Tutor Perini had a negative net margin of 3.08% and a negative return on equity of 9.56%. The business’s revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the business posted ($0.71) earnings per share. As a group, equities research analysts expect that Tutor Perini Co. will post -1.47 EPS for the current 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.