Tutor Perini Co. (NYSE:TPC) Shares Acquired by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Tutor Perini Co. (NYSE:TPC) by 7.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 60,331 shares of the construction company’s stock after purchasing an additional 4,070 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.12% of Tutor Perini worth $1,639,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. CWM LLC raised its position in shares of Tutor Perini by 142.8% in the 2nd quarter. CWM LLC now owns 1,714 shares of the construction company’s stock worth $37,000 after buying an additional 1,008 shares during the period. Hennessy Advisors Inc. acquired a new stake in Tutor Perini during the second quarter worth about $12,362,000. Bank of New York Mellon Corp raised its holdings in shares of Tutor Perini by 8.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 155,931 shares of the construction company’s stock worth $3,396,000 after purchasing an additional 12,622 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of Tutor Perini in the 2nd quarter valued at about $51,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Tutor Perini during the 2nd quarter worth about $202,000. Institutional investors and hedge funds own 65.01% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. B. Riley raised their price target on shares of Tutor Perini from $38.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Vertical Research assumed coverage on shares of Tutor Perini in a report on Tuesday, December 10th. They set a “buy” rating and a $38.00 target price on the stock. StockNews.com upgraded Tutor Perini from a “hold” rating to a “buy” rating in a research note on Monday. Finally, UBS Group increased their target price on Tutor Perini from $27.00 to $39.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd.

Insider Transactions at Tutor Perini

In other Tutor Perini news, CEO Ronald N. Tutor sold 125,000 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $30.72, for a total value of $3,840,000.00. Following the sale, the chief executive officer now directly owns 3,257,313 shares of the company’s stock, valued at $100,064,655.36. This trade represents a 3.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Raymond R. Oneglia sold 50,000 shares of the firm’s stock in a transaction 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 completion of the sale, the director now owns 250,000 shares in the company, valued at $7,170,000. The trade was a 16.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 325,000 shares of company stock worth $9,686,000. 19.50% of the stock is currently owned by corporate insiders.

Tutor Perini Price Performance

TPC stock opened at $26.47 on Tuesday. The stock’s 50 day moving average is $27.66 and its two-hundred day moving average is $24.44. Tutor Perini Co. has a 52-week low of $7.83 and a 52-week high of $34.55. The company has a market capitalization of $1.39 billion, a PE ratio of -10.55 and a beta of 1.49. 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 posted its quarterly earnings data on Wednesday, November 6th. The construction company reported ($1.92) EPS for the quarter, missing analysts’ consensus estimates of ($1.89) by ($0.03). The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.17 billion. Tutor Perini had a negative net margin of 3.08% and a negative return on equity of 9.56%. The company’s revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the company earned ($0.71) earnings per share. Analysts predict 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.