Intech Investment Management LLC Makes New Investment in Tutor Perini Co. (NYSE:TPC)

Intech Investment Management LLC purchased a new position in shares of Tutor Perini Co. (NYSE:TPC) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 12,468 shares of the construction company’s stock, valued at approximately $339,000.

Other institutional investors have also recently bought and sold shares of the company. CWM LLC boosted its stake in Tutor Perini by 142.8% during the second quarter. CWM LLC now owns 1,714 shares of the construction company’s stock worth $37,000 after buying an additional 1,008 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Tutor Perini during the second quarter worth $51,000. Plato Investment Management Ltd acquired a new stake in Tutor Perini during the third quarter worth $52,000. nVerses Capital LLC acquired a new stake in Tutor Perini during the second quarter worth $63,000. Finally, Quest Partners LLC lifted its holdings in shares of Tutor Perini by 537.2% during the second quarter. Quest Partners LLC now owns 4,148 shares of the construction company’s stock valued at $90,000 after acquiring an additional 3,497 shares during the period. Institutional investors and hedge funds own 65.01% of the company’s stock.

Tutor Perini Stock Up 0.6 %

Tutor Perini stock opened at $27.32 on Wednesday. The stock has a 50-day simple moving average of $27.63 and a 200 day simple moving average of $24.05. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.53. Tutor Perini Co. has a 12-month low of $7.83 and a 12-month high of $34.55.

Tutor Perini (NYSE:TPC) last released its quarterly earnings results on Wednesday, November 6th. The construction company reported ($1.92) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.89) by ($0.03). Tutor Perini had a negative net margin of 3.08% and a negative return on equity of 9.56%. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the prior year, the firm earned ($0.71) earnings per share. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, equities research analysts predict that Tutor Perini Co. will post -1.47 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TPC has been the subject of a number of analyst reports. StockNews.com cut Tutor Perini from a “buy” rating to a “hold” rating in a report on Friday, November 15th. B. Riley lifted their price objective on Tutor Perini from $38.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, UBS Group lifted their price objective on Tutor Perini from $27.00 to $39.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd.

Insider Activity at Tutor Perini

In related news, Director Raymond R. Oneglia sold 50,000 shares of Tutor Perini stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $28.68, for a total value of $1,434,000.00. Following the completion of the sale, the director now directly owns 250,000 shares in the company, valued at $7,170,000. This trade represents a 16.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ronald N. Tutor sold 125,000 shares of Tutor Perini stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $30.72, for a total value of $3,840,000.00. Following the completion of the sale, the chief executive officer now owns 3,257,313 shares of the company’s stock, valued at approximately $100,064,655.36. The trade was a 3.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 325,000 shares of company stock valued at $9,686,000 over the last ninety days. 19.50% of the stock is owned by insiders.

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.