Mirae Asset Global Investments Co. Ltd. Trims Stock Holdings in Tutor Perini Co. (NYSE:TPC)

Mirae Asset Global Investments Co. Ltd. lowered its holdings in Tutor Perini Co. (NYSE:TPC) by 15.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,429,912 shares of the construction company’s stock after selling 252,121 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 2.74% of Tutor Perini worth $20,677,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Highlander Capital Management LLC grew its position in shares of Tutor Perini by 85.7% in the 4th quarter. Highlander Capital Management LLC now owns 6,500 shares of the construction company’s stock worth $59,000 after acquiring an additional 3,000 shares in the last quarter. Tower Research Capital LLC TRC grew its position in shares of Tutor Perini by 606.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,436 shares of the construction company’s stock worth $68,000 after acquiring an additional 6,383 shares in the last quarter. John G Ullman & Associates Inc. acquired a new position in shares of Tutor Perini in the 4th quarter worth approximately $150,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Tutor Perini in the 4th quarter worth approximately $184,000. Finally, Semanteon Capital Management LP acquired a new position in shares of Tutor Perini in the 4th quarter worth approximately $217,000. Hedge funds and other institutional investors own 65.01% of the company’s stock.

Insider Buying and Selling at Tutor Perini

In other Tutor Perini news, Director Michael R. Klein sold 181,155 shares of Tutor Perini stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $19.99, for a total transaction of $3,621,288.45. Following the sale, the director now owns 208,976 shares of the company’s stock, valued at approximately $4,177,430.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Michael R. Klein sold 181,155 shares of Tutor Perini stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $19.99, for a total transaction of $3,621,288.45. Following the transaction, the director now directly owns 208,976 shares in the company, valued at approximately $4,177,430.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Ronald N. Tutor sold 25,718 shares of Tutor Perini stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $20.66, for a total value of $531,333.88. Following the transaction, the chief executive officer now owns 3,411,222 shares in the company, valued at $70,475,846.52. The disclosure for this sale can be found here. Insiders have sold 243,728 shares of company stock valued at $4,870,217 in the last quarter. Corporate insiders own 19.50% of the company’s stock.

Analyst Upgrades and Downgrades

TPC has been the subject of several research reports. StockNews.com upgraded Tutor Perini from a “hold” rating to a “buy” rating in a research report on Friday, April 26th. UBS Group raised Tutor Perini from a “neutral” rating to a “buy” rating and raised their price target for the stock from $14.00 to $27.00 in a report on Friday, June 14th.

Tutor Perini Stock Performance

Shares of NYSE TPC traded down $0.65 during mid-day trading on Friday, hitting $21.14. The company had a trading volume of 303,757 shares, compared to its average volume of 513,424. Tutor Perini Co. has a 12 month low of $6.59 and a 12 month high of $23.19. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.60. The firm’s 50 day simple moving average is $20.37 and its two-hundred day simple moving average is $14.26.

Tutor Perini (NYSE:TPC) last announced its earnings results on Thursday, April 25th. The construction company reported $0.30 earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.48. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $919.60 million. Tutor Perini had a negative return on equity of 8.03% and a negative net margin of 2.56%. As a group, research analysts anticipate that Tutor Perini Co. will post 1.1 earnings per share for the current fiscal year.

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.