Westside Investment Management Inc. Has $6.01 Million Position in Tutor Perini Co. (NYSE:TPC)

Westside Investment Management Inc. reduced its stake in shares of Tutor Perini Co. (NYSE:TPC) by 2.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 248,203 shares of the construction company’s stock after selling 5,545 shares during the quarter. Tutor Perini accounts for 1.3% of Westside Investment Management Inc.’s portfolio, making the stock its 18th largest position. Westside Investment Management Inc.’s holdings in Tutor Perini were worth $6,007,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently bought and sold shares of TPC. Dimensional Fund Advisors LP grew its holdings in shares of 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 worth $52,263,000 after purchasing an additional 198,348 shares during the last quarter. Geode Capital Management LLC grew its holdings 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 last quarter. State Street Corp grew its holdings in shares of Tutor Perini by 2.0% during 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 during the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of Tutor Perini by 129.4% during the third 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. Finally, Hennessy Advisors Inc. grew its holdings in shares of Tutor Perini by 6.8% during the fourth quarter. Hennessy Advisors Inc. now owns 682,981 shares of the construction company’s stock worth $16,528,000 after purchasing an additional 43,600 shares during the last quarter. 65.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on TPC shares. Vertical Research started coverage on Tutor Perini in a report on Tuesday, December 10th. They issued a “buy” rating and a $38.00 price target on the stock. StockNews.com upgraded Tutor Perini from a “hold” rating to a “buy” rating in a report on Friday, January 3rd. UBS Group raised their price target on Tutor Perini from $27.00 to $39.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, B. Riley raised their price target on Tutor Perini from $38.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, November 7th.

Tutor Perini Trading Up 0.8 %

NYSE TPC opened at $27.64 on Wednesday. The firm has a market cap of $1.45 billion, a P/E ratio of -7.88 and a beta of 1.54. 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’s 50-day moving average is $26.00 and its 200-day moving average is $25.06. Tutor Perini Co. has a one year low of $8.34 and a one year high of $34.55.

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

Insiders Place Their Bets

In other news, Director Raymond R. Oneglia sold 50,000 shares of Tutor Perini stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $28.68, for a total transaction of $1,434,000.00. Following the completion of the transaction, the director now directly owns 250,000 shares in the company, valued at approximately $7,170,000. The trade was a 16.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ronald N. Tutor sold 125,000 shares of Tutor Perini stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $30.72, for a total value of $3,840,000.00. Following the transaction, the chief executive officer now owns 3,257,313 shares of the company’s stock, valued at $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 have sold 325,000 shares of company stock valued at $9,686,000 in the last 90 days. 19.50% of the stock is currently owned by insiders.

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.