California Public Employees Retirement System raised its holdings in Tutor Perini (NYSE:TPC) by 17.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 101,674 shares of the construction company’s stock after buying an additional 15,313 shares during the period. California Public Employees Retirement System owned about 0.20% of Tutor Perini worth $2,577,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of TPC. Aperio Group LLC grew its holdings in shares of Tutor Perini by 21.3% during the fourth quarter. Aperio Group LLC now owns 12,019 shares of the construction company’s stock worth $305,000 after purchasing an additional 2,108 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Tutor Perini by 119.4% during the third quarter. Victory Capital Management Inc. now owns 6,877 shares of the construction company’s stock worth $195,000 after purchasing an additional 3,743 shares during the last quarter. SeaCrest Wealth Management LLC purchased a new position in shares of Tutor Perini during the fourth quarter worth about $101,000. JPMorgan Chase & Co. grew its holdings in shares of Tutor Perini by 1.4% during the third quarter. JPMorgan Chase & Co. now owns 295,249 shares of the construction company’s stock worth $8,444,000 after purchasing an additional 4,077 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Tutor Perini during the third quarter worth about $135,000. Institutional investors own 85.43% of the company’s stock.
Shares of NYSE TPC traded up $0.15 during midday trading on Thursday, reaching $22.10. 558,828 shares of the company were exchanged, compared to its average volume of 585,330. The company has a quick ratio of 1.94, a current ratio of 1.94 and a debt-to-equity ratio of 0.41. Tutor Perini has a 1 year low of $20.20 and a 1 year high of $32.30. The firm has a market cap of $1,130.26, a P/E ratio of 15.35, a P/E/G ratio of 1.03 and a beta of 2.04.
Tutor Perini (NYSE:TPC) last released its quarterly earnings results on Tuesday, February 27th. The construction company reported $0.55 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.05. Tutor Perini had a return on equity of 5.86% and a net margin of 3.12%. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.37 billion. analysts anticipate that Tutor Perini will post 2.2 earnings per share for the current year.
Several equities analysts have issued reports on TPC shares. Zacks Investment Research raised Tutor Perini from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a report on Saturday, January 20th. Canaccord Genuity reaffirmed a “buy” rating and set a $32.00 price objective on shares of Tutor Perini in a report on Friday, February 16th. KeyCorp raised Tutor Perini from a “sector weight” rating to an “overweight” rating and set a $28.00 price objective on the stock in a report on Wednesday, February 28th. They noted that the move was a valuation call. Alembic Global Advisors reaffirmed a “buy” rating on shares of Tutor Perini in a report on Monday, March 5th. Finally, ValuEngine lowered Tutor Perini from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the stock. Tutor Perini presently has an average rating of “Hold” and an average target price of $30.43.
In related news, major shareholder N. Tutor Separate Prope Ronald sold 50,000 shares of the firm’s stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $22.26, for a total value of $1,113,000.00. Following the completion of the sale, the insider now owns 5,748,120 shares in the company, valued at $127,953,151.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 24.50% of the stock is owned by company insiders.
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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 worldwide. The company operates through three segments: Civil, Building, and Specialty Contractors. The Civil segment engages in the public works construction, replacement, and reconstruction of infrastructure, including highways, bridges, tunnels, mass-transit systems, and water management and wastewater treatment facilities.
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