Segall Bryant & Hamill LLC Takes $1.41 Million Position in Tutor Perini Co. (NYSE:TPC)

Segall Bryant & Hamill LLC acquired a new position in Tutor Perini Co. (NYSE:TPC) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 51,931 shares of the construction company’s stock, valued at approximately $1,410,000. Segall Bryant & Hamill LLC owned approximately 0.10% of Tutor Perini at the end of the most recent quarter.

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

Tutor Perini Stock Performance

NYSE:TPC opened at $28.52 on Friday. 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 firm’s 50-day moving average is $27.31 and its 200-day moving average is $23.66. Tutor Perini Co. has a 52-week low of $7.83 and a 52-week high of $34.55. The company has a market cap of $1.50 billion, a price-to-earnings ratio of -11.36 and a beta of 1.50.

Tutor Perini (NYSE:TPC) last issued its quarterly earnings results on Wednesday, November 6th. The construction company reported ($1.92) earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the prior year, the firm earned ($0.71) earnings per share. The company’s revenue was up 2.1% on a year-over-year basis. Equities research analysts anticipate that Tutor Perini Co. will post -1.47 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other Tutor Perini news, CEO Ronald N. Tutor sold 125,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $30.72, for a total transaction of $3,840,000.00. Following the completion of the transaction, the chief executive officer now owns 3,257,313 shares in the company, valued at $100,064,655.36. This trade represents a 3.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Raymond R. Oneglia sold 50,000 shares of Tutor Perini stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $28.68, for a total value of $1,434,000.00. Following the sale, the director now directly owns 250,000 shares in the company, valued at $7,170,000. The trade was a 16.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 325,000 shares of company stock valued at $9,686,000 over the last ninety days. 19.50% of the stock is owned by company insiders.

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.