Argyle Capital Management Lowers stake in Tutor Perini Corp (TPC)

Tutor Perini Corp (TPC) : Argyle Capital Management reduced its stake in Tutor Perini Corp by 5.96% during the most recent quarter end. The investment management company now holds a total of 15,766 shares of Tutor Perini Corp which is valued at $404,398 after selling 1,000 shares in Tutor Perini Corp , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.Tutor Perini Corp makes up approximately 0.17% of Argyle Capital Management’s portfolio.

Other Hedge Funds, Including , American Century Companies Inc boosted its stake in TPC in the latest quarter, The investment management firm added 3,947 additional shares and now holds a total of 81,841 shares of Tutor Perini Corp which is valued at $2,099,222. Meeder Asset Management Inc added TPC to its portfolio by purchasing 12,302 company shares during the most recent quarter which is valued at $302,137. Tutor Perini Corp makes up approx 0.03% of Meeder Asset Management Inc’s portfolio. Simplex Trading sold out all of its stake in TPC during the most recent quarter. The investment firm sold 1,313 shares of TPC which is valued $32,707. Livforsakringsbolaget Skandia Omsesidigt added TPC to its portfolio by purchasing 12,281 company shares during the most recent quarter which is valued at $307,271. Tutor Perini Corp makes up approx 0.01% of Livforsakringsbolaget Skandia Omsesidigt’s portfolio.Bnp Paribas Arbitrage Sa boosted its stake in TPC in the latest quarter, The investment management firm added 2,214 additional shares and now holds a total of 2,806 shares of Tutor Perini Corp which is valued at $68,214.

Tutor Perini Corp closed down -0.49 points or -1.91% at $25.12 with 4,18,035 shares getting traded on Friday. Post opening the session at $25.56, the shares hit an intraday low of $25.02 and an intraday high of $25.58 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Tutor Perini Corp reported $0.31 EPS for the quarter, beating the analyst consensus estimate by $ 0.13 according to the earnings call on May 4, 2016. Analyst had a consensus of $0.18. The company had revenue of $1085.36 million for the quarter, compared to analysts expectations of $1141.22 million. The company’s revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.10 EPS.

Many Wall Street Analysts have commented on Tutor Perini Corp. Company shares were Reiterated by FBR Capital on Jun 30, 2016 to “Outperform”, Firm has raised the Price Target to $ 26 from a previous price target of $22 .Tutor Perini Corp was Initiated by MKM Partners to “Neutral” on Jun 29, 2016. Tutor Perini Corp was Downgraded by Standpoint Research to ” Hold” on May 24, 2016.

Tutor Perini Corporation is a construction company engaged in providing general contracting construction management and design-build services to private customers and public agencies. The Company operates through three segments: Civil Building and Specialty Contractors. The Civil segment focuses on public works construction and the repair replacement and reconstruction of infrastructure including highways bridges mass transit systems and water management and wastewater treatment facilities. Its Building segment provides services to various specialized building markets including the hospitality and gaming transportation healthcare municipal offices sports and entertainment educational and correctional facilities among others. Its Specialty Contractors segment provides electrical mechanical plumbing HVAC fire protection systems and pneumatically placed concrete for a range of civil and building construction projects.

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