Verus Capital Partners LLC Sells 22,280 Shares of Tutor Perini Co. (NYSE:TPC)

Verus Capital Partners LLC lessened its position in Tutor Perini Co. (NYSE:TPC) by 6.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 323,620 shares of the construction company’s stock after selling 22,280 shares during the quarter. Tutor Perini comprises about 0.8% of Verus Capital Partners LLC’s investment portfolio, making the stock its 24th biggest position. Verus Capital Partners LLC owned about 0.62% of Tutor Perini worth $8,790,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. XTX Topco Ltd acquired a new stake in shares of Tutor Perini in the second quarter valued at $746,000. Acadian Asset Management LLC raised its stake in shares of Tutor Perini by 152.0% in the first quarter. Acadian Asset Management LLC now owns 292,435 shares of the construction company’s stock worth $4,227,000 after acquiring an additional 176,398 shares during the last quarter. Dark Forest Capital Management LP acquired a new position in shares of Tutor Perini during the second quarter worth approximately $482,000. Caxton Associates LP raised its position in Tutor Perini by 254.0% in the 2nd quarter. Caxton Associates LP now owns 77,466 shares of the construction company’s stock worth $1,687,000 after purchasing an additional 55,583 shares during the last quarter. Finally, Texas Capital Bank Wealth Management Services Inc bought a new position in Tutor Perini in the 2nd quarter valued at $503,000. 65.01% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on TPC. StockNews.com upgraded shares of Tutor Perini from a “hold” rating to a “buy” rating in a research report on Thursday, November 7th. UBS Group boosted their target price on Tutor Perini from $27.00 to $39.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, B. Riley lifted their target price on Tutor Perini from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, November 7th.

Tutor Perini Stock Up 0.3 %

Shares of TPC opened at $30.59 on Tuesday. Tutor Perini Co. has a 12 month low of $7.22 and a 12 month high of $34.55. The company has a current ratio of 1.55, a quick ratio of 1.65 and a debt-to-equity ratio of 0.53. The stock’s 50-day moving average price is $26.21 and its two-hundred day moving average price is $23.00. The company has a market capitalization of $1.60 billion, a PE ratio of -12.19 and a beta of 1.50.

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 the consensus estimate 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 company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the previous year, the firm earned ($0.71) EPS. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. On average, analysts anticipate that Tutor Perini Co. will post -1.47 EPS for the current year.

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.