Invesco Ltd. Has $14 Million Stock Position in Tutor Perini Co. (NYSE:TPC)

Invesco Ltd. cut its stake in shares of Tutor Perini Co. (NYSE:TPC) by 37.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 578,587 shares of the construction company’s stock after selling 342,683 shares during the period. Invesco Ltd.’s holdings in Tutor Perini were worth $14,002,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Barclays PLC increased its holdings in Tutor Perini by 298.0% in the 3rd quarter. Barclays PLC now owns 69,875 shares of the construction company’s stock worth $1,898,000 after purchasing an additional 52,319 shares in the last quarter. JPMorgan Chase & Co. boosted its position in 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 buying an additional 460,945 shares during the period. Assenagon Asset Management S.A. grew its holdings in Tutor Perini by 67.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 93,202 shares of the construction company’s stock worth $2,255,000 after acquiring an additional 37,478 shares during the last quarter. Geode Capital Management LLC increased its position in Tutor Perini by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,023,198 shares of the construction company’s stock valued at $27,795,000 after acquiring an additional 38,458 shares during the period. Finally, State Street Corp lifted 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 period. 65.01% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TPC. StockNews.com lowered Tutor Perini from a “buy” rating to a “hold” rating in a research report on Tuesday, January 28th. B. Riley upgraded Tutor Perini to a “strong-buy” rating in a report on Tuesday, March 18th.

Tutor Perini Stock Performance

TPC stock opened at $19.75 on Tuesday. Tutor Perini Co. has a 1-year low of $13.29 and a 1-year high of $34.55. 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 stock has a 50-day moving average price of $23.38 and a 200-day moving average price of $25.18. The firm has a market cap of $1.04 billion, a PE ratio of -7.87 and a beta of 1.47.

Tutor Perini (NYSE:TPC) last issued its quarterly earnings results on Thursday, February 27th. The construction company reported ($1.51) earnings per share (EPS) 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%. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same period last year, the firm posted ($0.91) earnings per share.

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.