Arizona State Retirement System Takes Position in Tutor Perini Co. (NYSE:TPC)

Arizona State Retirement System acquired a new stake in Tutor Perini Co. (NYSE:TPC) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 12,379 shares of the construction company’s stock, valued at approximately $270,000.

Other institutional investors have also modified their holdings of the company. Empowered Funds LLC grew its stake in shares of Tutor Perini by 17.3% in the first quarter. Empowered Funds LLC now owns 218,925 shares of the construction company’s stock valued at $3,166,000 after buying an additional 32,325 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Tutor Perini by 2.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,992,319 shares of the construction company’s stock valued at $18,130,000 after purchasing an additional 53,927 shares during the period. Los Angeles Capital Management LLC boosted its holdings in Tutor Perini by 77.8% in the first quarter. Los Angeles Capital Management LLC now owns 151,727 shares of the construction company’s stock valued at $2,194,000 after purchasing an additional 66,408 shares during the period. Acadian Asset Management LLC boosted its holdings in Tutor Perini by 152.0% in the first quarter. Acadian Asset Management LLC now owns 292,435 shares of the construction company’s stock valued at $4,227,000 after purchasing an additional 176,398 shares during the period. Finally, CWM LLC boosted its holdings in Tutor Perini by 142.8% in the second quarter. CWM LLC now owns 1,714 shares of the construction company’s stock valued at $37,000 after purchasing an additional 1,008 shares during the period. 65.01% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, UBS Group upgraded Tutor Perini from a “neutral” rating to a “buy” rating and lifted their target price for the company from $14.00 to $27.00 in a report on Friday, June 14th.

Tutor Perini Trading Up 0.7 %

NYSE:TPC opened at $24.10 on Wednesday. The firm has a market cap of $1.26 billion, a PE ratio of -11.82 and a beta of 1.51. The stock has a fifty day moving average price of $22.48 and a 200 day moving average price of $19.20. Tutor Perini Co. has a 12-month low of $6.85 and a 12-month high of $26.88. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 0.50.

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