Tutor Perini Co. (NYSE:TPC) Stock Position Lifted by Geode Capital Management LLC

Geode Capital Management LLC boosted its stake in Tutor Perini Co. (NYSE:TPC) by 3.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,023,198 shares of the construction company’s stock after buying an additional 38,458 shares during the quarter. Geode Capital Management LLC owned approximately 1.95% of Tutor Perini worth $27,795,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Allspring Global Investments Holdings LLC purchased a new stake in shares of Tutor Perini during the second quarter worth $51,000. Plato Investment Management Ltd purchased a new stake in shares of Tutor Perini during the 3rd quarter worth about $52,000. nVerses Capital LLC acquired a new stake in shares of Tutor Perini during the 2nd quarter valued at about $63,000. CWM LLC grew its stake in shares of Tutor Perini by 53.0% in the 3rd quarter. CWM LLC now owns 2,622 shares of the construction company’s stock valued at $71,000 after buying an additional 908 shares in the last quarter. Finally, Quest Partners LLC grew its stake in shares of Tutor Perini by 537.2% in the 2nd quarter. Quest Partners LLC now owns 4,148 shares of the construction company’s stock valued at $90,000 after buying an additional 3,497 shares in the last quarter. 65.01% of the stock is currently owned by hedge funds and other institutional investors.

Tutor Perini Trading Up 0.6 %

NYSE:TPC opened at $24.48 on Friday. The company’s 50 day moving average is $27.37 and its 200-day moving average is $24.61. 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. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of -9.75 and a beta of 1.49.

Tutor Perini (NYSE:TPC) last posted its 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). The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.17 billion. Tutor Perini had a negative net margin of 3.08% and a negative return on equity of 9.56%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.71) earnings per share. Equities analysts anticipate that Tutor Perini Co. will post -1.47 EPS for the current year.

Insider Transactions at Tutor Perini

In other news, Director Raymond R. Oneglia sold 100,000 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $28.73, for a total value of $2,873,000.00. Following the sale, the director now owns 400,000 shares in the company, valued at approximately $11,492,000. This trade represents a 20.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Ronald N. Tutor sold 125,000 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $30.72, for a total transaction of $3,840,000.00. Following the transaction, the chief executive officer now directly owns 3,257,313 shares in the company, valued at $100,064,655.36. This trade represents a 3.70 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 325,000 shares of company stock worth $9,686,000. Company insiders own 19.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on TPC. StockNews.com cut shares of Tutor Perini from a “buy” rating to a “hold” rating in a research note on Wednesday. UBS Group lifted their price objective on shares of Tutor Perini from $27.00 to $39.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. B. Riley increased their target price on shares of Tutor Perini from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Vertical Research assumed coverage on Tutor Perini in a report on Tuesday, December 10th. They set a “buy” rating and a $38.00 target price on the stock.

About Tutor Perini

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.