Numeric Investors LLC bought a new position in Tutor Perini Corp (NYSE:TPC) during the fourth quarter, Holdings Channel reports. The institutional investor bought 14,400 shares of the company’s stock, valued at approximately $403,000.
Several other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. increased its stake in Tutor Perini Corp by 7.1% in the third quarter. BlackRock Inc. now owns 21,695 shares of the company’s stock worth $465,000 after buying an additional 1,440 shares during the last quarter. Emerald Advisers Inc. PA raised its stake in Tutor Perini Corp by 0.4% in the third quarter. Emerald Advisers Inc. PA now owns 858,034 shares of the company’s stock worth $18,422,000 after buying an additional 3,050 shares in the last quarter. ClariVest Asset Management LLC raised its stake in Tutor Perini Corp by 3.7% in the third quarter. ClariVest Asset Management LLC now owns 107,900 shares of the company’s stock worth $2,317,000 after buying an additional 3,800 shares in the last quarter. US Bancorp DE raised its stake in Tutor Perini Corp by 746.7% in the third quarter. US Bancorp DE now owns 5,199 shares of the company’s stock worth $112,000 after buying an additional 4,585 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in Tutor Perini Corp during the third quarter worth about $132,000. Institutional investors and hedge funds own 80.29% of the company’s stock.
Shares of Tutor Perini Corp (NYSE:TPC) opened at 29.35 on Tuesday. Tutor Perini Corp has a 12-month low of $14.35 and a 12-month high of $33.00. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of 15.29 and a beta of 2.60. The stock’s 50 day moving average is $30.22 and its 200-day moving average is $25.86.
Tutor Perini Corp (NYSE:TPC) last issued its quarterly earnings data on Thursday, February 23rd. The company reported $0.60 EPS for the quarter, hitting analysts’ consensus estimates of $0.60. Tutor Perini Corp had a net margin of 1.51% and a return on equity of 5.05%. The firm had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the prior year, the firm earned $0.18 EPS. The company’s revenue was up 3.8% on a year-over-year basis. On average, analysts anticipate that Tutor Perini Corp will post $2.25 EPS for the current fiscal year.
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A number of research firms have recently issued reports on TPC. Standpoint Research lowered shares of Tutor Perini Corp from a “buy” rating to a “hold” rating in a report on Thursday, December 1st. FBR & Co restated an “outperform” rating and set a $35.00 price target (up previously from $30.00) on shares of Tutor Perini Corp in a report on Tuesday, December 20th. MKM Partners boosted their price target on shares of Tutor Perini Corp from $31.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, December 28th. KeyCorp began coverage on shares of Tutor Perini Corp in a report on Friday, January 27th. They set a “sector weight” rating on the stock. Finally, DA Davidson restated a “buy” rating on shares of Tutor Perini Corp in a report on Thursday, February 16th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $28.43.
In other Tutor Perini Corp news, COO James A. Frost sold 110,000 shares of the stock in a transaction dated Friday, March 17th. The shares were sold at an average price of $30.27, for a total transaction of $3,329,700.00. Following the sale, the chief operating officer now owns 534,661 shares of the company’s stock, valued at approximately $16,184,188.47. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 23.40% of the stock is owned by corporate insiders.
Tutor Perini Corp Company Profile
Tutor Perini Corporation, formerly Perini Corporation, is a construction company offering general contracting, construction management and design-build services to private customers and public agencies. The Company operates through three segments. The Civil segment specializes in public works construction and the repair, replacement and reconstruction of infrastructure.
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