Rhumbline Advisers Boosts Holdings in Tutor Perini Co. (NYSE:TPC)

Rhumbline Advisers grew its holdings in Tutor Perini Co. (NYSE:TPC) by 3.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 84,385 shares of the construction company’s stock after purchasing an additional 2,534 shares during the quarter. Rhumbline Advisers owned 0.16% of Tutor Perini worth $1,838,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in TPC. Charles Schwab Investment Management Inc. lifted its stake in Tutor Perini by 2.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,992,319 shares of the construction company’s stock worth $18,130,000 after acquiring an additional 53,927 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Tutor Perini by 2.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,085,769 shares of the construction company’s stock worth $18,981,000 after acquiring an additional 55,823 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Tutor Perini in the fourth quarter worth approximately $184,000. Trexquant Investment LP lifted its stake in Tutor Perini by 32.6% in the fourth quarter. Trexquant Investment LP now owns 84,208 shares of the construction company’s stock worth $766,000 after acquiring an additional 20,709 shares during the last quarter. Finally, Sculati Wealth Management LLC lifted its stake in Tutor Perini by 3.0% in the fourth quarter. Sculati Wealth Management LLC now owns 205,901 shares of the construction company’s stock worth $1,874,000 after acquiring an additional 5,948 shares during the last quarter. Hedge funds and other institutional investors own 65.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, UBS Group upgraded shares of Tutor Perini from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $14.00 to $27.00 in a research note on Friday, June 14th.

Tutor Perini Stock Up 0.7 %

TPC stock opened at $26.22 on Friday. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 0.50. Tutor Perini Co. has a twelve month low of $6.85 and a twelve month high of $27.05. The company’s 50 day moving average is $22.64 and its two-hundred day moving average is $19.37. The stock has a market cap of $1.37 billion, a P/E ratio of -13.18 and a beta of 1.51.

Tutor Perini (NYSE:TPC) last released its quarterly earnings data on Thursday, August 1st. The construction company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.15). Tutor Perini had a negative return on equity of 4.49% and a negative net margin of 1.59%. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period in the previous year, the business posted ($0.72) EPS. The firm’s revenue for the quarter was up 10.4% compared to the same quarter last year. Research analysts expect that Tutor Perini Co. will post 1.12 earnings per share for the current fiscal year.

Tutor Perini Company 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.