State Street Corp Increases Stake in Tutor Perini Co. (NYSE:TPC)

State Street Corp grew its position in Tutor Perini Co. (NYSE:TPC) by 2.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 975,082 shares of the construction company’s stock after buying an additional 19,518 shares during the period. State Street Corp owned approximately 1.86% of Tutor Perini worth $26,483,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TPC. Foundry Partners LLC increased its position in shares of Tutor Perini by 18.2% during the third quarter. Foundry Partners LLC now owns 216,915 shares of the construction company’s stock valued at $5,891,000 after acquiring an additional 33,440 shares in the last quarter. XTX Topco Ltd purchased a new stake in Tutor Perini during the 2nd quarter valued at $746,000. Empowered Funds LLC increased its holdings in shares of Tutor Perini by 13.9% in the 3rd quarter. Empowered Funds LLC now owns 268,521 shares of the construction company’s stock worth $7,293,000 after purchasing an additional 32,676 shares in the last quarter. Dark Forest Capital Management LP purchased a new position in shares of Tutor Perini in the second quarter worth $482,000. Finally, Caxton Associates LP lifted its holdings in shares of Tutor Perini by 254.0% during the second quarter. Caxton Associates LP now owns 77,466 shares of the construction company’s stock valued at $1,687,000 after purchasing an additional 55,583 shares in the last quarter. Institutional investors own 65.01% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on TPC shares. UBS Group lifted their price objective on Tutor Perini from $27.00 to $39.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. 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 price target on the stock. B. Riley boosted their price objective 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. Finally, StockNews.com upgraded shares of Tutor Perini from a “hold” rating to a “buy” rating in a report on Monday, December 16th.

Insiders Place Their Bets

In other Tutor Perini news, CEO Ronald N. Tutor sold 125,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 3,257,313 shares in the company, valued at $100,064,655.36. This represents a 3.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Raymond R. Oneglia sold 50,000 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $28.68, for a total value of $1,434,000.00. Following the completion of the transaction, the director now directly owns 250,000 shares in the company, valued at $7,170,000. This trade represents a 16.67 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 325,000 shares of company stock worth $9,686,000. Company insiders own 19.50% of the company’s stock.

Tutor Perini Stock Up 1.3 %

TPC stock opened at $25.65 on Monday. The company has a market cap of $1.34 billion, a price-to-earnings ratio of -10.22 and a beta of 1.49. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.55 and a current ratio of 1.55. The business’s 50-day moving average is $27.59 and its two-hundred day moving average is $24.53. Tutor Perini Co. has a fifty-two week low of $7.83 and a fifty-two week high of $34.55.

Tutor Perini (NYSE:TPC) last issued its quarterly earnings data on Wednesday, November 6th. The construction company reported ($1.92) earnings per share for the quarter, missing the consensus estimate of ($1.89) by ($0.03). The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.17 billion. Tutor Perini had a negative return on equity of 9.56% and a negative net margin of 3.08%. Tutor Perini’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter last year, the company earned ($0.71) EPS. As a group, analysts forecast that Tutor Perini Co. will post -1.47 earnings per share for the current 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.