Public Employees Retirement System of Ohio lifted its stake in Tutor Perini Co. (NYSE:TPC – Free Report) by 71.6% during the third quarter, HoldingsChannel.com reports. The firm owned 76,149 shares of the construction company’s stock after purchasing an additional 31,772 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Tutor Perini were worth $2,068,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the company. USA Financial Formulas lifted its position in Tutor Perini by 19.6% in the 3rd quarter. USA Financial Formulas now owns 3,451 shares of the construction company’s stock valued at $94,000 after acquiring an additional 566 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Tutor Perini by 3.5% during the second quarter. The Manufacturers Life Insurance Company now owns 16,874 shares of the construction company’s stock valued at $368,000 after purchasing an additional 571 shares in the last quarter. CWM LLC boosted its position in shares of Tutor Perini by 53.0% during the third quarter. CWM LLC now owns 2,622 shares of the construction company’s stock valued at $71,000 after buying an additional 908 shares during the last quarter. Plato Investment Management Ltd bought a new stake in Tutor Perini in the 3rd quarter worth about $52,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in Tutor Perini in the 2nd quarter worth about $51,000. Institutional investors own 65.01% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts recently weighed in on the stock. StockNews.com upgraded shares of Tutor Perini from a “hold” rating to a “buy” rating in a research report on Monday. B. Riley increased their price target on Tutor Perini from $38.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Vertical Research assumed coverage on Tutor Perini in a report on Tuesday, December 10th. They issued a “buy” rating and a $38.00 price objective for the company. Finally, UBS Group increased their target price on Tutor Perini from $27.00 to $39.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd.
Insider Buying and Selling at Tutor Perini
In other Tutor Perini news, Director Raymond R. Oneglia sold 100,000 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $28.73, for a total transaction of $2,873,000.00. Following the completion of the sale, the director now directly owns 400,000 shares of the company’s stock, valued at $11,492,000. This trade represents a 20.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Ronald N. Tutor sold 50,000 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $30.78, for a total transaction of $1,539,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,362,267 shares in the company, valued at $72,710,578.26. This trade represents a 2.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 325,000 shares of company stock valued at $9,686,000 over the last 90 days. 19.50% of the stock is currently owned by corporate insiders.
Tutor Perini Trading Down 0.3 %
Shares of TPC stock opened at $26.40 on Wednesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.55 and a quick ratio of 1.55. The company has a market cap of $1.38 billion, a price-to-earnings ratio of -10.52 and a beta of 1.49. Tutor Perini Co. has a 1 year low of $7.83 and a 1 year high of $34.55. The firm has a fifty day moving average price of $27.65 and a 200-day moving average price of $24.47.
Tutor Perini (NYSE:TPC – Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The construction company reported ($1.92) EPS for the quarter, missing the consensus estimate of ($1.89) by ($0.03). The company 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%. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period last year, the business earned ($0.71) EPS. As a group, equities analysts predict 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.
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