State Street Corp Purchases 19,518 Shares of Tutor Perini Co. (NYSE:TPC)

State Street Corp lifted its position in shares of Tutor Perini Co. (NYSE:TPC) by 2.0% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 975,082 shares of the construction company’s stock after buying an additional 19,518 shares during the quarter. State Street Corp’s holdings in Tutor Perini were worth $26,483,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of TPC. Plato Investment Management Ltd bought a new position in shares of Tutor Perini in the third quarter worth about $52,000. Allspring Global Investments Holdings LLC purchased a new position in Tutor Perini in the 2nd quarter worth approximately $51,000. CWM LLC boosted its stake in Tutor Perini by 53.0% in the 3rd quarter. CWM LLC now owns 2,622 shares of the construction company’s stock worth $71,000 after purchasing an additional 908 shares during the period. nVerses Capital LLC bought a new position in Tutor Perini in the 2nd quarter worth approximately $63,000. Finally, USA Financial Formulas grew its holdings in Tutor Perini by 19.6% during the 3rd quarter. USA Financial Formulas now owns 3,451 shares of the construction company’s stock valued at $94,000 after buying an additional 566 shares in the last quarter. Hedge funds and other institutional investors own 65.01% of the company’s stock.

Analyst Ratings Changes

TPC has been the topic of several research analyst reports. StockNews.com raised shares of Tutor Perini from a “hold” rating to a “buy” rating in a report on Monday, December 16th. B. Riley boosted their price target on shares of Tutor Perini from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Vertical Research started coverage on Tutor Perini in a research report on Tuesday, December 10th. They set a “buy” rating and a $38.00 price objective for the company. Finally, UBS Group boosted their target price on Tutor Perini from $27.00 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd.

Tutor Perini Trading Up 1.3 %

Shares of TPC opened at $25.65 on Monday. The stock has a market capitalization of $1.34 billion, a PE ratio of -10.22 and a beta of 1.49. The company’s fifty day moving average is $27.59 and its 200 day moving average is $24.53. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.55 and a current ratio of 1.55. Tutor Perini Co. has a fifty-two week low of $7.83 and a fifty-two week high of $34.55.

Tutor Perini (NYSE:TPC) last issued its quarterly earnings data on Wednesday, November 6th. The construction company reported ($1.92) earnings per share for the quarter, missing the consensus estimate of ($1.89) by ($0.03). The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.17 billion. Tutor Perini had a negative return on equity of 9.56% and a negative net margin of 3.08%. The company’s revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.71) earnings per share. Sell-side analysts expect that Tutor Perini Co. will post -1.47 earnings per share for the current fiscal year.

Insider Activity

In other Tutor Perini news, Director Raymond R. Oneglia sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $28.73, for a total transaction of $2,873,000.00. Following the completion of the transaction, the director now owns 400,000 shares in the company, valued at $11,492,000. The trade was a 20.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Ronald N. Tutor sold 50,000 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $30.78, for a total value of $1,539,000.00. Following the completion of the sale, the chief executive officer now owns 2,362,267 shares in the company, valued at approximately $72,710,578.26. The trade was a 2.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 325,000 shares of company stock valued at $9,686,000. 19.50% of the stock is currently owned by insiders.

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 in the United States and internationally. It operates through three segments: Civil, Building, and Specialty Contractors.