Meeder Asset Management Inc. Raises Position in Tutor Perini Co. (NYSE:TPC)

Meeder Asset Management Inc. grew its position in Tutor Perini Co. (NYSE:TPC) by 1,231.3% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 5,352 shares of the construction company’s stock after purchasing an additional 4,950 shares during the quarter. Meeder Asset Management Inc.’s holdings in Tutor Perini were worth $74,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of TPC. Captrust Financial Advisors raised its holdings in Tutor Perini by 315.2% in the first quarter. Captrust Financial Advisors now owns 1,416 shares of the construction company’s stock worth $27,000 after buying an additional 1,075 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Tutor Perini in the second quarter worth about $58,000. Paloma Partners Management Co purchased a new position in Tutor Perini in the first quarter worth about $233,000. Dynamic Technology Lab Private Ltd raised its holdings in Tutor Perini by 26.9% in the first quarter. Dynamic Technology Lab Private Ltd now owns 15,025 shares of the construction company’s stock worth $285,000 after buying an additional 3,186 shares during the last quarter. Finally, JS Capital Management LLC purchased a new position in Tutor Perini in the first quarter worth about $341,000. 67.17% of the stock is owned by institutional investors and hedge funds.

Shares of TPC stock opened at $13.24 on Wednesday. The company has a 50 day moving average price of $13.85 and a 200-day moving average price of $15.47. Tutor Perini Co. has a 52 week low of $10.79 and a 52 week high of $20.24. The firm has a market capitalization of $676.19 million, a PE ratio of 5.68 and a beta of 1.39. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 0.58.

Tutor Perini (NYSE:TPC) last announced its quarterly earnings results on Wednesday, August 4th. The construction company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.10. Tutor Perini had a net margin of 2.29% and a return on equity of 7.67%. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.21 billion. Analysts anticipate that Tutor Perini Co. will post 2.09 earnings per share for the current year.

Separately, Zacks Investment Research cut shares of Tutor Perini from a “buy” rating to a “hold” rating in a report on Friday, September 10th.

In other news, CEO Ronald N. Tutor sold 50,000 shares of Tutor Perini stock in a transaction that occurred on Friday, September 10th. The shares were sold at an average price of $13.55, for a total value of $677,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 150,000 shares of company stock valued at $2,055,500 over the last quarter. Company insiders own 22.20% of the company’s stock.

Tutor Perini Profile

Tutor Perini Corp. engages in the provision of construction services. It operates though the following business segments: Civil, Building, and Specialty Contractors. The Civil segment specializes in public works construction and the replacement and reconstruction of infrastructure across the major geographic regions of the United States.

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

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