JPMorgan Chase & Co. Boosts Stock Holdings in Tutor Perini Co. (NYSE:TPC)

JPMorgan Chase & Co. lifted its position in Tutor Perini Co. (NYSE:TPC) by 611.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 536,384 shares of the construction company’s stock after purchasing an additional 460,945 shares during the period. JPMorgan Chase & Co. owned about 1.02% of Tutor Perini worth $14,568,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Dimensional Fund Advisors LP grew its stake in shares of Tutor Perini by 9.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,399,544 shares of the construction company’s stock worth $52,263,000 after purchasing an additional 198,348 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Tutor Perini by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,023,198 shares of the construction company’s stock worth $27,795,000 after buying an additional 38,458 shares during the last quarter. State Street Corp increased its stake in shares of Tutor Perini by 2.0% during the third quarter. State Street Corp now owns 975,082 shares of the construction company’s stock valued at $26,483,000 after buying an additional 19,518 shares during the period. Jacobs Levy Equity Management Inc. raised its holdings in shares of Tutor Perini by 129.4% during 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 acquiring an additional 441,858 shares in the last quarter. Finally, 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 acquiring an additional 284,627 shares in the last quarter. Hedge funds and other institutional investors own 65.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TPC. UBS Group boosted their price objective 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. B. Riley lifted their target price 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. StockNews.com raised shares of Tutor Perini from a “hold” rating to a “buy” rating in a research note on Friday, January 3rd. Finally, Vertical Research initiated coverage on Tutor Perini in a research report on Tuesday, December 10th. They set a “buy” rating and a $38.00 price objective on the stock.

Insider Buying and Selling

In other news, Director Raymond R. Oneglia sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $28.68, for a total value of $1,434,000.00. Following the transaction, the director now owns 250,000 shares in the company, valued at approximately $7,170,000. This represents a 16.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Ronald N. Tutor sold 125,000 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $30.72, for a total transaction of $3,840,000.00. Following the sale, the chief executive officer now owns 3,257,313 shares in the company, valued at approximately $100,064,655.36. The trade was a 3.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 325,000 shares of company stock worth $9,686,000 in the last 90 days. Insiders own 19.50% of the company’s stock.

Tutor Perini Stock Performance

Shares of Tutor Perini stock opened at $23.95 on Friday. The business has a fifty day simple moving average of $26.78 and a two-hundred day simple moving average of $24.87. The firm has a market capitalization of $1.26 billion, a P/E ratio of -9.54 and a beta of 1.54. The company has a current ratio of 1.55, a quick 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 posted its quarterly earnings data on Wednesday, November 6th. The construction company reported ($1.92) 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 for the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the previous year, the firm earned ($0.71) EPS. The company’s revenue was up 2.1% on a year-over-year basis. On average, equities analysts forecast that Tutor Perini Co. will post -1.47 earnings per share for the current fiscal year.

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.