Hennessy Advisors Inc. Grows Stock Position in Tutor Perini Co. (NYSE:TPC)

Hennessy Advisors Inc. lifted its holdings in shares of Tutor Perini Co. (NYSE:TPC) by 6.8% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 682,981 shares of the construction company’s stock after acquiring an additional 43,600 shares during the period. Hennessy Advisors Inc. owned approximately 1.30% of Tutor Perini worth $16,528,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of TPC. Plato Investment Management Ltd purchased a new stake in Tutor Perini during the 3rd quarter worth approximately $52,000. CWM LLC grew its holdings 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. USA Financial Formulas increased its position in shares of 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 during the period. FMR LLC raised its stake in Tutor Perini by 103.1% in the 3rd quarter. FMR LLC now owns 4,725 shares of the construction company’s stock worth $128,000 after acquiring an additional 2,399 shares during the last quarter. Finally, Point72 DIFC Ltd acquired a new stake in Tutor Perini during the 2nd quarter worth about $158,000. Institutional investors and hedge funds own 65.01% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. StockNews.com raised Tutor Perini from a “hold” rating to a “buy” rating in a report on Friday, January 3rd. Vertical Research began coverage on shares of Tutor Perini in a research report on Tuesday, December 10th. They set a “buy” rating and a $38.00 price target for the company. UBS Group increased their price objective on shares of Tutor Perini from $27.00 to $39.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, B. Riley raised their target price on shares of Tutor Perini from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, November 7th.

Insiders Place Their Bets

In related news, Director Raymond R. Oneglia sold 100,000 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $28.73, for a total value of $2,873,000.00. Following the completion of the sale, the director now owns 400,000 shares of the company’s stock, valued at approximately $11,492,000. The trade was a 20.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ronald N. Tutor sold 50,000 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $30.78, for a total transaction of $1,539,000.00. Following the transaction, the chief executive officer now directly owns 2,362,267 shares in the company, valued at approximately $72,710,578.26. The trade was a 2.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 325,000 shares of company stock worth $9,686,000. 19.50% of the stock is owned by corporate insiders.

Tutor Perini Trading Down 20.7 %

Shares of NYSE:TPC opened at $19.62 on Friday. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.53. Tutor Perini Co. has a 12-month low of $7.83 and a 12-month high of $34.55. The business has a 50 day moving average of $26.24 and a two-hundred day moving average of $24.92. The company has a market capitalization of $1.03 billion, a PE ratio of -7.81 and a beta of 1.54.

Tutor Perini (NYSE:TPC) last released its quarterly earnings data on Wednesday, November 6th. The construction company reported ($1.92) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.89) by ($0.03). Tutor Perini had a negative net margin of 3.08% and a negative return on equity of 9.56%. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the previous year, the firm posted ($0.71) EPS. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. As a group, analysts forecast that Tutor Perini Co. will post -1.47 EPS for the current year.

About Tutor Perini

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.