IndexIQ Advisors LLC Has $774,000 Holdings in Tutor Perini Corporation (TPC)

IndexIQ Advisors LLC lifted its stake in Tutor Perini Corporation (NYSE:TPC) by 83.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 27,257 shares of the company’s stock after buying an additional 12,376 shares during the quarter. IndexIQ Advisors LLC owned approximately 0.05% of Tutor Perini Corporation worth $774,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. lifted its holdings in shares of Tutor Perini Corporation by 86.1% in the second quarter. Ameriprise Financial Inc. now owns 162,956 shares of the company’s stock worth $4,682,000 after buying an additional 75,407 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Tutor Perini Corporation by 64.7% in the first quarter. Bank of America Corp DE now owns 311,710 shares of the company’s stock worth $9,913,000 after buying an additional 122,419 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of Tutor Perini Corporation by 3.3% in the second quarter. First Trust Advisors LP now owns 253,480 shares of the company’s stock worth $7,288,000 after buying an additional 8,011 shares in the last quarter. TIAA CREF Investment Management LLC lifted its holdings in shares of Tutor Perini Corporation by 8.7% in the second quarter. TIAA CREF Investment Management LLC now owns 146,439 shares of the company’s stock worth $4,210,000 after buying an additional 11,708 shares in the last quarter. Finally, Parametrica Management Ltd purchased a new position in shares of Tutor Perini Corporation in the third quarter worth $688,000. 81.53% of the stock is currently owned by hedge funds and other institutional investors.

In other Tutor Perini Corporation news, major shareholder N. Tutor Separate Prope Ronald sold 25,000 shares of the business’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of C$26.11, for a total transaction of C$652,750.00. Following the transaction, the insider now owns 5,923,120 shares in the company, valued at C$154,652,663.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ronald N. Tutor sold 3,617 shares of the business’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of C$26.02, for a total transaction of C$94,114.34. The disclosure for this sale can be found here. Insiders sold 175,000 shares of company stock worth $4,566,711 in the last 90 days. 24.50% of the stock is currently owned by company insiders.

Several equities analysts have recently commented on the stock. Zacks Investment Research raised shares of Tutor Perini Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, October 11th. Seaport Global Securities downgraded shares of Tutor Perini Corporation from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $40.00 to $31.00 in a report on Wednesday, October 11th. BidaskClub downgraded shares of Tutor Perini Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. B. Riley reissued a “buy” rating on shares of Tutor Perini Corporation in a report on Wednesday, November 1st. Finally, Canaccord Genuity reissued a “buy” rating and issued a $35.00 target price on shares of Tutor Perini Corporation in a report on Saturday, August 26th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of C$33.17.

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Shares of Tutor Perini Corporation (NYSE TPC) opened at C$24.20 on Monday. Tutor Perini Corporation has a 1 year low of C$22.60 and a 1 year high of C$33.00. The firm has a market cap of $1,200.00, a price-to-earnings ratio of 12.54, a P/E/G ratio of 1.33 and a beta of 2.39. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.07 and a quick ratio of 2.07.

Tutor Perini Corporation (NYSE:TPC) last announced its quarterly earnings results on Thursday, November 9th. The company reported C$0.47 earnings per share for the quarter, missing the consensus estimate of C$0.69 by C($0.22). Tutor Perini Corporation had a return on equity of 6.22% and a net margin of 2.03%. The business had revenue of C$1.20 billion during the quarter, compared to the consensus estimate of C$1.54 billion. During the same quarter in the prior year, the firm posted $0.57 EPS. The company’s revenue for the quarter was down 10.0% on a year-over-year basis. analysts forecast that Tutor Perini Corporation will post 1.83 EPS for the current fiscal year.

Tutor Perini Corporation Company Profile

Tutor Perini Corporation is a construction company offering general contracting, construction management and design-build services to private customers and public agencies across the world. The Company operates through three segments: Civil, Building and Specialty Contractors. Its Civil segment specializes in public works construction and the repair, replacement and reconstruction of infrastructure across various geographic regions of the United States.

Institutional Ownership by Quarter for Tutor Perini Corporation (NYSE:TPC)

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