California Public Employees Retirement System increased its holdings in Tutor Perini Corp (NYSE:TPC) by 7.4% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 86,361 shares of the construction company’s stock after purchasing an additional 5,961 shares during the period. California Public Employees Retirement System owned approximately 0.17% of Tutor Perini worth $2,453,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the company. Asset Management One Co. Ltd. boosted its stake in shares of Tutor Perini by 204.9% in the 3rd quarter. Asset Management One Co. Ltd. now owns 343,589 shares of the construction company’s stock valued at $9,827,000 after purchasing an additional 230,916 shares in the last quarter. Westside Investment Management Inc. raised its holdings in Tutor Perini by 22.7% during the 3rd quarter. Westside Investment Management Inc. now owns 56,280 shares of the construction company’s stock valued at $1,618,000 after buying an additional 10,425 shares during the last quarter. Formula Growth Ltd. bought a new stake in Tutor Perini during the 3rd quarter valued at $7,526,000. Pinnacle Associates Ltd. raised its holdings in Tutor Perini by 183.9% during the 3rd quarter. Pinnacle Associates Ltd. now owns 93,320 shares of the construction company’s stock valued at $2,650,000 after buying an additional 60,445 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its holdings in Tutor Perini by 3.5% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 370,542 shares of the construction company’s stock valued at $10,524,000 after buying an additional 12,604 shares during the last quarter. 81.78% of the stock is owned by institutional investors.
Tutor Perini Corp (TPC) opened at $27.40 on Thursday. 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 Corp has a 1-year low of $22.60 and a 1-year high of $33.00. The company has a market cap of $1,340.00, a price-to-earnings ratio of 14.20, a price-to-earnings-growth ratio of 1.03 and a beta of 2.37.
Tutor Perini (NYSE:TPC) last issued its quarterly earnings data on Thursday, November 9th. The construction company reported $0.47 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by ($0.22). Tutor Perini had a return on equity of 6.16% and a net margin of 2.03%. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter last year, the company posted $0.57 earnings per share. The firm’s revenue for the quarter was down 10.0% compared to the same quarter last year. sell-side analysts predict that Tutor Perini Corp will post 1.83 earnings per share for the current fiscal year.
TPC has been the subject of a number of recent analyst reports. Canaccord Genuity lowered their price target on shares of Tutor Perini from $35.00 to $32.00 and set a “buy” rating for the company in a report on Friday, November 10th. B. Riley reiterated a “buy” rating on shares of Tutor Perini in a report on Wednesday, November 1st. ValuEngine upgraded shares of Tutor Perini from a “hold” rating to a “buy” rating in a report on Friday, December 1st. lowered their price target on shares of Tutor Perini from $37.00 to $35.00 and set a “buy” rating for the company in a report on Wednesday, November 15th. Finally, Zacks Investment Research upgraded shares of Tutor Perini from a “sell” rating to a “hold” rating in a report on Wednesday, October 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $33.83.
In related news, Director Dale Ann Reiss sold 4,829 shares of the stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $27.28, for a total value of $131,735.12. Following the completion of the transaction, the director now directly owns 20,625 shares in the company, valued at approximately $562,650. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder N. Tutor Separate Prope Ronald sold 25,000 shares of the stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $25.17, for a total transaction of $629,250.00. Following the completion of the transaction, the insider now owns 5,823,120 shares of the company’s stock, valued at $146,567,930.40. The disclosure for this sale can be found here. Insiders sold a total of 54,829 shares of company stock valued at $1,400,985 over the last 90 days. Company insiders own 24.50% of the company’s stock.
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About Tutor Perini
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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