Verus Capital Partners LLC Cuts Stake in Tutor Perini Co. (NYSE:TPC)

Verus Capital Partners LLC lowered its holdings in shares of Tutor Perini Co. (NYSE:TPC) by 12.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 284,280 shares of the construction company’s stock after selling 39,340 shares during the quarter. Tutor Perini accounts for about 0.6% of Verus Capital Partners LLC’s investment portfolio, making the stock its 26th largest holding. Verus Capital Partners LLC’s holdings in Tutor Perini were worth $6,880,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Plato Investment Management Ltd purchased a new stake in Tutor Perini during the third quarter valued at about $52,000. FMR LLC lifted its stake in shares of Tutor Perini by 103.1% in the 3rd quarter. FMR LLC now owns 4,725 shares of the construction company’s stock valued at $128,000 after acquiring an additional 2,399 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in Tutor Perini during the 3rd quarter valued at about $201,000. EP Wealth Advisors LLC bought a new position in Tutor Perini during the 3rd quarter worth approximately $234,000. Finally, Intech Investment Management LLC purchased a new position in Tutor Perini in the 3rd quarter worth approximately $339,000. Hedge funds and other institutional investors own 65.01% of the company’s stock.

Tutor Perini Price Performance

Shares of TPC stock opened at $21.86 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.55 and a current ratio of 1.55. Tutor Perini Co. has a fifty-two week low of $9.03 and a fifty-two week high of $34.55. The firm has a market cap of $1.15 billion, a P/E ratio of -8.71 and a beta of 1.52. The business’s 50 day moving average price is $23.87 and its 200-day moving average price is $25.15.

Tutor Perini (NYSE:TPC) last released its quarterly earnings results 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%. During the same quarter in the prior year, the firm posted ($0.91) earnings per share.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on TPC shares. StockNews.com lowered Tutor Perini from a “buy” rating to a “hold” rating in a research note on Tuesday, January 28th. B. Riley increased their price target on shares of Tutor Perini from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Vertical Research began coverage on shares of Tutor Perini in a report on Tuesday, December 10th. They issued a “buy” rating and a $38.00 price target on the stock.

Tutor Perini Company 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.