Verus Capital Partners LLC Has $6.88 Million Stake in Tutor Perini Co. (NYSE:TPC)

Verus Capital Partners LLC reduced its holdings in shares of Tutor Perini Co. (NYSE:TPC) by 12.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 284,280 shares of the construction company’s stock after selling 39,340 shares during the period. Tutor Perini accounts for approximately 0.6% of Verus Capital Partners LLC’s investment portfolio, making the stock its 26th biggest holding. Verus Capital Partners LLC owned approximately 0.54% of Tutor Perini worth $6,880,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in TPC. Fred Alger Management LLC acquired a new stake in Tutor Perini in the third quarter worth $16,034,000. JPMorgan Chase & Co. boosted its position in shares of Tutor Perini by 611.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 536,384 shares of the construction company’s stock worth $14,568,000 after purchasing an additional 460,945 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its stake in shares of 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 valued at $21,277,000 after buying an additional 441,858 shares during the period. Allspring Global Investments Holdings LLC increased its position in Tutor Perini by 40,975.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 140,477 shares of the construction company’s stock valued at $3,400,000 after buying an additional 140,135 shares in the last quarter. Finally, Barclays PLC raised its stake in Tutor Perini by 298.0% during the 3rd quarter. Barclays PLC now owns 69,875 shares of the construction company’s stock worth $1,898,000 after buying an additional 52,319 shares during the period. 65.01% of the stock is owned by institutional investors.

Tutor Perini Stock Performance

NYSE:TPC opened at $21.86 on Friday. Tutor Perini Co. has a 52-week low of $9.03 and a 52-week high of $34.55. The business’s fifty day moving average is $23.87 and its 200 day moving average is $25.15. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.55 and a current ratio of 1.55. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of -8.71 and a beta of 1.52.

Tutor Perini (NYSE:TPC) last released its quarterly earnings results on Thursday, February 27th. The construction company reported ($1.51) EPS for the quarter, missing analysts’ consensus estimates 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 previous year, the business earned ($0.91) EPS.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on TPC shares. B. Riley lifted 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. Vertical Research began coverage on shares of 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 downgraded shares of 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.