Donald Smith & CO. Inc. Lowers Stock Position in Tutor Perini Co. (NYSE:TPC)

Donald Smith & CO. Inc. lowered its position in Tutor Perini Co. (NYSE:TPC) by 18.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,307,039 shares of the construction company’s stock after selling 745,639 shares during the period. Tutor Perini comprises about 1.8% of Donald Smith & CO. Inc.’s portfolio, making the stock its 21st largest position. Donald Smith & CO. Inc. owned about 0.06% of Tutor Perini worth $72,027,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in TPC. Hennessy Advisors Inc. purchased a new stake in Tutor Perini during the second quarter worth about $12,362,000. American Century Companies Inc. increased its holdings in Tutor Perini by 59.9% during the second quarter. American Century Companies Inc. now owns 759,665 shares of the construction company’s stock worth $16,546,000 after buying an additional 284,627 shares during the last quarter. Acadian Asset Management LLC increased its holdings in Tutor Perini by 84.4% during the second quarter. Acadian Asset Management LLC now owns 539,336 shares of the construction company’s stock worth $11,742,000 after buying an additional 246,901 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in 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 buying an additional 198,348 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in Tutor Perini by 262.2% during the first quarter. Assenagon Asset Management S.A. now owns 184,461 shares of the construction company’s stock worth $2,667,000 after buying an additional 133,534 shares during the last quarter. Hedge funds and other institutional investors own 65.01% of the company’s stock.

Analyst Ratings Changes

Separately, UBS Group upgraded shares of Tutor Perini from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $14.00 to $27.00 in a report on Friday, June 14th.

Tutor Perini Price Performance

Shares of NYSE:TPC opened at $24.18 on Monday. The firm has a market capitalization of $1.27 billion, a PE ratio of -11.85 and a beta of 1.51. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 0.50. The company has a 50-day moving average price of $22.44 and a two-hundred day moving average price of $19.11. Tutor Perini Co. has a twelve month low of $6.85 and a twelve month high of $26.88.

Tutor Perini (NYSE:TPC) last released its quarterly earnings data on Thursday, August 1st. The construction company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.15). Tutor Perini had a negative return on equity of 4.49% and a negative net margin of 1.59%. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same period last year, the business posted ($0.72) earnings per share. The firm’s quarterly revenue was up 10.4% on a year-over-year basis. Equities analysts forecast that Tutor Perini Co. will post 1.12 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.