Fmr LLC Acquires 2,399 Shares of Tutor Perini Co. (NYSE:TPC)

Fmr LLC raised its holdings in shares of Tutor Perini Co. (NYSE:TPC) by 103.1% during the third quarter, according to its most recent filing with the SEC. The firm owned 4,725 shares of the construction company’s stock after purchasing an additional 2,399 shares during the period. Fmr LLC’s holdings in Tutor Perini were worth $128,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its stake in shares of Tutor Perini by 9.0% during the 2nd 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. American Century Companies Inc. lifted its position 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. Acadian Asset Management LLC lifted its position in shares of Tutor Perini by 84.4% during the second quarter. Acadian Asset Management LLC now owns 539,336 shares of the construction company’s stock valued at $11,742,000 after buying an additional 246,901 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Tutor Perini by 20.3% in the 2nd quarter. Renaissance Technologies LLC now owns 515,380 shares of the construction company’s stock valued at $11,225,000 after buying an additional 86,800 shares in the last quarter. Finally, Verus Capital Partners LLC grew its position in shares of Tutor Perini by 61.9% in the 2nd quarter. Verus Capital Partners LLC now owns 345,900 shares of the construction company’s stock worth $7,534,000 after buying an additional 132,200 shares during the last quarter. Hedge funds and other institutional investors own 65.01% of the company’s stock.

Tutor Perini Trading Up 1.3 %

NYSE:TPC opened at $25.65 on Monday. The company has a market capitalization of $1.34 billion, a P/E ratio of -10.22 and a beta of 1.49. 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. The firm has a fifty day simple moving average of $27.59 and a 200-day simple moving average of $24.53.

Tutor Perini (NYSE:TPC) last issued its quarterly earnings results on Wednesday, November 6th. The construction company reported ($1.92) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period in the prior year, the firm posted ($0.71) EPS. The business’s revenue was up 2.1% compared to the same quarter last year. On average, equities research analysts anticipate that Tutor Perini Co. will post -1.47 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on TPC shares. StockNews.com raised shares of Tutor Perini from a “hold” rating to a “buy” rating in a research report on Monday, December 16th. Vertical Research initiated coverage on Tutor Perini in a report on Tuesday, December 10th. They set a “buy” rating and a $38.00 price objective for the company. UBS Group boosted their target price on Tutor Perini from $27.00 to $39.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, B. Riley increased their price target on Tutor Perini from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, November 7th.

Insider Activity at Tutor Perini

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

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.