Chicago Equity Partners LLC increased its stake in shares of Tutor Perini Corporation (NYSE:TPC) by 4.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,770 shares of the company’s stock after purchasing an additional 2,960 shares during the quarter. Chicago Equity Partners LLC owned approximately 0.13% of Tutor Perini Corporation worth $1,839,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Foundry Partners LLC increased its position in Tutor Perini Corporation by 3.3% during the 3rd quarter. Foundry Partners LLC now owns 427,101 shares of the company’s stock worth $12,130,000 after purchasing an additional 13,580 shares in the last quarter. Emerald Mutual Fund Advisers Trust increased its position in Tutor Perini Corporation by 2.7% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 746,521 shares of the company’s stock worth $21,201,000 after purchasing an additional 19,640 shares in the last quarter. Parametrica Management Ltd acquired a new position in Tutor Perini Corporation during the 3rd quarter worth approximately $688,000. Victory Capital Management Inc. increased its position in Tutor Perini Corporation by 119.4% during the 3rd quarter. Victory Capital Management Inc. now owns 6,877 shares of the company’s stock worth $195,000 after purchasing an additional 3,743 shares in the last quarter. Finally, TrueNorth Inc. increased its position in Tutor Perini Corporation by 94.9% during the 3rd quarter. TrueNorth Inc. now owns 86,054 shares of the company’s stock worth $2,444,000 after purchasing an additional 41,902 shares in the last quarter. Institutional investors and hedge funds own 81.53% of the company’s stock.
Several brokerages have issued reports on TPC. B. Riley restated a “buy” rating on shares of Tutor Perini Corporation in a research report on Wednesday, November 1st. Zacks Investment Research cut shares of Tutor Perini Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. ValuEngine cut shares of Tutor Perini Corporation from a “buy” rating to a “hold” rating in a research report on Friday. Canaccord Genuity decreased their price target on shares of Tutor Perini Corporation from $35.00 to $32.00 and set a “buy” rating for the company in a research report on Friday. Finally, BidaskClub cut shares of Tutor Perini Corporation from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 1st. 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. The company currently has a consensus rating of “Buy” and a consensus price target of C$33.17.
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Shares of Tutor Perini Corporation (TPC) opened at C$24.20 on Monday. The company has a market cap of $1,204.70, a price-to-earnings ratio of 12.54, a PEG ratio of 1.33 and a beta of 2.39. Tutor Perini Corporation has a 12 month low of C$22.60 and a 12 month high of C$33.00. 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 issued its earnings results on Thursday, November 9th. The company reported C$0.47 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.69 by C($0.22). The company had revenue of C$1.20 billion for the quarter, compared to the consensus estimate of C$1.54 billion. Tutor Perini Corporation had a return on equity of 6.22% and a net margin of 2.03%. The firm’s revenue was down 10.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.57 earnings per share. sell-side analysts anticipate that Tutor Perini Corporation will post 1.83 earnings per share for the current year.
In related news, CEO Ronald N. Tutor sold 3,617 shares of the 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder N. Tutor Separate Prope Ronald sold 25,000 shares of the stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of C$26.11, for a total transaction of C$652,750.00. Following the transaction, the insider now directly owns 5,923,120 shares in the company, valued at C$154,652,663.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 175,000 shares of company stock worth $4,566,711. 24.50% of the stock is owned by insiders.
Tutor Perini Corporation 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.
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