Tutor Perini Co. (NYSE:TPC) Shares Acquired by Advisors Asset Management Inc.

Advisors Asset Management Inc. grew its stake in Tutor Perini Co. (NYSE:TPC) by 7.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 115,546 shares of the construction company’s stock after buying an additional 8,153 shares during the period. Advisors Asset Management Inc.’s holdings in Tutor Perini were worth $3,138,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP raised its stake in shares of Tutor Perini by 9.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,399,544 shares of the construction company’s stock worth $52,263,000 after purchasing an additional 198,348 shares during the last quarter. Vanguard Group Inc. increased its holdings in Tutor Perini by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 2,333,269 shares of the construction company’s stock worth $33,739,000 after buying an additional 25,246 shares during the period. American Century Companies Inc. raised its position in Tutor Perini by 59.9% during the 2nd quarter. American Century Companies Inc. now owns 759,665 shares of the construction company’s stock worth $16,546,000 after buying an additional 284,627 shares during the last quarter. Hennessy Advisors Inc. acquired a new stake in Tutor Perini during the 2nd quarter valued at approximately $12,362,000. Finally, Acadian Asset Management LLC boosted its holdings in shares of Tutor Perini by 84.4% in the 2nd quarter. Acadian Asset Management LLC now owns 539,336 shares of the construction company’s stock valued at $11,742,000 after acquiring an additional 246,901 shares during the last quarter. 65.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on TPC shares. UBS Group raised their target price on shares of Tutor Perini from $27.00 to $39.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. B. Riley lifted their price objective on Tutor Perini from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, StockNews.com downgraded Tutor Perini from a “buy” rating to a “hold” rating in a research note on Friday, November 15th.

Tutor Perini Stock Performance

Shares of NYSE TPC opened at $28.52 on Friday. The company has a market capitalization of $1.50 billion, a PE ratio of -11.36 and a beta of 1.50. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.55 and a current ratio of 1.55. The company’s fifty day moving average price is $27.31 and its 200 day moving average price is $23.66. Tutor Perini Co. has a 1 year low of $7.83 and a 1 year high of $34.55.

Tutor Perini (NYSE:TPC) last posted its quarterly earnings data on Wednesday, November 6th. The construction company reported ($1.92) EPS 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 business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter last year, the firm earned ($0.71) earnings per share. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, research analysts predict that Tutor Perini Co. will post -1.47 earnings per share for the current year.

Insider Activity

In other news, Director Raymond R. Oneglia sold 100,000 shares of Tutor Perini stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $28.73, for a total value of $2,873,000.00. Following the sale, the director now directly owns 400,000 shares of the company’s stock, valued at $11,492,000. The trade was a 20.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 value of $1,539,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,362,267 shares of the company’s stock, valued at approximately $72,710,578.26. This represents a 2.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 325,000 shares of company stock worth $9,686,000 over the last 90 days. 19.50% of the stock is currently owned by company insiders.

Tutor Perini Company 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.