Allspring Global Investments Holdings LLC Grows Position in Tutor Perini Co. (NYSE:TPC)

Allspring Global Investments Holdings LLC grew its position in shares of Tutor Perini Co. (NYSE:TPC) by 40,975.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 140,477 shares of the construction company’s stock after acquiring an additional 140,135 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.27% of Tutor Perini worth $3,400,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. CWM LLC boosted its holdings in Tutor Perini by 53.0% during the third quarter. CWM LLC now owns 2,622 shares of the construction company’s stock worth $71,000 after purchasing an additional 908 shares during the last quarter. Creative Planning boosted its stake in shares of Tutor Perini by 62.2% in the 3rd quarter. Creative Planning now owns 23,256 shares of the construction company’s stock worth $632,000 after buying an additional 8,917 shares during the last quarter. Pinnacle Associates Ltd. grew its holdings in shares of Tutor Perini by 3.6% in the third quarter. Pinnacle Associates Ltd. now owns 296,235 shares of the construction company’s stock valued at $8,046,000 after acquiring an additional 10,218 shares in the last quarter. US Bancorp DE grew its holdings in shares of Tutor Perini by 19,259.7% in the third quarter. US Bancorp DE now owns 14,907 shares of the construction company’s stock valued at $405,000 after acquiring an additional 14,830 shares in the last quarter. Finally, Plato Investment Management Ltd purchased a new stake in shares of Tutor Perini during the third quarter valued at approximately $52,000. Institutional investors own 65.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TPC. Vertical Research started coverage on Tutor Perini in a research note on Tuesday, December 10th. They issued a “buy” rating and a $38.00 price objective for the company. B. Riley increased their price target on shares of Tutor Perini from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, StockNews.com lowered shares of Tutor Perini from a “buy” rating to a “hold” rating in a research report on Tuesday, January 28th.

Tutor Perini Stock Performance

Shares of TPC opened at $23.27 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.55 and a quick ratio of 1.55. The firm has a market cap of $1.22 billion, a PE ratio of -9.27 and a beta of 1.52. Tutor Perini Co. has a 1 year low of $8.68 and a 1 year high of $34.55. The stock’s fifty day moving average price is $24.28 and its two-hundred day moving average price is $25.04.

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.