Schwab Charles Investment Management Inc. boosted its holdings in shares of Tutor Perini Corp (NYSE:TPC) by 11.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 427,334 shares of the construction company’s stock after acquiring an additional 42,587 shares during the quarter. Schwab Charles Investment Management Inc. owned about 0.86% of Tutor Perini worth $9,423,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Bronson Point Management LLC increased its stake in Tutor Perini by 172.7% during the fourth quarter. Bronson Point Management LLC now owns 120,000 shares of the construction company’s stock worth $3,042,000 after acquiring an additional 76,000 shares during the last quarter. SeaCrest Wealth Management LLC acquired a new stake in Tutor Perini during the fourth quarter worth $101,000. Assetmark Inc. acquired a new stake in Tutor Perini during the fourth quarter worth $1,479,000. California Public Employees Retirement System increased its stake in Tutor Perini by 17.7% during the fourth quarter. California Public Employees Retirement System now owns 101,674 shares of the construction company’s stock worth $2,577,000 after acquiring an additional 15,313 shares during the last quarter. Finally, Bank of Montreal Can increased its stake in Tutor Perini by 328.5% during the fourth quarter. Bank of Montreal Can now owns 7,550 shares of the construction company’s stock worth $191,000 after acquiring an additional 5,788 shares during the last quarter. 90.21% of the stock is owned by institutional investors.
Several equities research analysts have issued reports on the company. DA Davidson set a $38.00 target price on Tutor Perini and gave the stock a “buy” rating in a research note on Monday, April 23rd. Zacks Investment Research raised Tutor Perini from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 3rd. ValuEngine cut Tutor Perini from a “hold” rating to a “sell” rating in a research note on Wednesday, May 23rd. KeyCorp raised Tutor Perini from a “sector weight” rating to an “overweight” rating and set a $28.00 price objective for the company in a research note on Wednesday, February 28th. They noted that the move was a valuation call. Finally, Alembic Global Advisors reaffirmed a “buy” rating on shares of Tutor Perini in a research note on Monday, March 5th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $31.25.
Shares of Tutor Perini opened at $19.65 on Friday, according to Marketbeat.com. Tutor Perini Corp has a twelve month low of $18.55 and a twelve month high of $29.90. The firm has a market capitalization of $946.03 million, a PE ratio of 13.65, a PEG ratio of 0.84 and a beta of 2.03. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.47.
Tutor Perini (NYSE:TPC) last released its earnings results on Wednesday, May 9th. The construction company reported $0.01 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.22). Tutor Perini had a return on equity of 4.95% and a net margin of 2.62%. The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period in the previous year, the firm earned $0.27 earnings per share. The company’s revenue for the quarter was down 8.0% compared to the same quarter last year. research analysts anticipate that Tutor Perini Corp will post 2.28 EPS for the current year.
In related news, major shareholder N. Tutor Separate Prope Ronald sold 50,000 shares of the business’s stock in a transaction on Wednesday, May 30th. The stock was sold at an average price of $20.53, for a total transaction of $1,026,500.00. Following the completion of the transaction, the insider now directly owns 5,761,601 shares of the company’s stock, valued at approximately $118,285,668.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 24.50% of the company’s stock.
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 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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