Tutor Perini Co. (NYSE:TPC) Stock Position Raised by Barclays PLC

Barclays PLC boosted its holdings in Tutor Perini Co. (NYSE:TPC) by 298.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 69,875 shares of the construction company’s stock after acquiring an additional 52,319 shares during the period. Barclays PLC owned about 0.13% of Tutor Perini worth $1,898,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its holdings in shares of Tutor Perini by 9.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,399,544 shares of the construction company’s stock worth $52,263,000 after acquiring an additional 198,348 shares during the period. State Street Corp grew its position in Tutor Perini by 2.0% in the 3rd quarter. State Street Corp now owns 975,082 shares of the construction company’s stock worth $26,483,000 after purchasing an additional 19,518 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its stake in shares of Tutor Perini by 129.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 783,396 shares of the construction company’s stock valued at $21,277,000 after purchasing an additional 441,858 shares during the period. American Century Companies Inc. raised its holdings in shares of Tutor Perini by 59.9% during the second quarter. American Century Companies Inc. now owns 759,665 shares of the construction company’s stock valued at $16,546,000 after buying an additional 284,627 shares during the last quarter. Finally, Fred Alger Management LLC acquired a new position in shares of Tutor Perini during the third quarter worth approximately $16,034,000. 65.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Tutor Perini news, CEO Ronald N. Tutor sold 50,000 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $30.78, for a total transaction of $1,539,000.00. Following the sale, the chief executive officer now owns 2,362,267 shares in the company, valued at approximately $72,710,578.26. The trade was a 2.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Raymond R. Oneglia sold 100,000 shares of Tutor Perini stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $28.73, for a total transaction of $2,873,000.00. Following the completion of the transaction, the director now directly 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 325,000 shares of company stock worth $9,686,000. Insiders own 19.50% of the company’s stock.

Analyst Ratings Changes

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

Tutor Perini Trading Up 0.6 %

Shares of TPC stock opened at $24.48 on Friday. The stock has a 50-day simple moving average of $27.37 and a 200 day simple moving average of $24.61. The stock has a market capitalization of $1.28 billion, a P/E ratio of -9.75 and a beta of 1.49. Tutor Perini Co. has a fifty-two week low of $7.83 and a fifty-two week high of $34.55. 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 (NYSE:TPC) last announced its quarterly earnings data on Wednesday, November 6th. The construction company reported ($1.92) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.89) by ($0.03). Tutor Perini had a negative return on equity of 9.56% and a negative net margin of 3.08%. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same period in the prior year, the firm earned ($0.71) EPS. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, sell-side analysts expect that Tutor Perini Co. will post -1.47 earnings per share for the current fiscal year.

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.