Massachusetts Financial Services Co. MA Acquires Shares of 13,236 Tutor Perini Co. (NYSE:TPC)

Massachusetts Financial Services Co. MA bought a new position in shares of Tutor Perini Co. (NYSE:TPC) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 13,236 shares of the construction company’s stock, valued at approximately $359,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP lifted its holdings in Tutor Perini by 9.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,399,544 shares of the construction company’s stock worth $52,263,000 after buying an additional 198,348 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Tutor Perini by 1.1% in the first quarter. Vanguard Group Inc. now owns 2,333,269 shares of the construction company’s stock worth $33,739,000 after acquiring an additional 25,246 shares in the last quarter. American Century Companies Inc. boosted its holdings in 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 last quarter. Hennessy Advisors Inc. purchased a new stake in Tutor Perini during the 2nd quarter worth approximately $12,362,000. Finally, Acadian Asset Management LLC raised its position 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 purchasing an additional 246,901 shares in the last quarter. 65.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Ronald N. Tutor sold 50,000 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $30.78, for a total transaction of $1,539,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,362,267 shares in the company, valued at $72,710,578.26. This represents a 2.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Raymond R. Oneglia sold 100,000 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 400,000 shares of the company’s stock, valued at $11,492,000. This represents a 20.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 325,000 shares of company stock valued at $9,686,000. 19.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

TPC has been the subject of a number of recent analyst reports. B. Riley raised their price target 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 lowered shares of Tutor Perini from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Finally, UBS Group upped their target price on shares of Tutor Perini from $27.00 to $39.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd.

Tutor Perini Price Performance

Shares of TPC opened at $27.25 on Thursday. Tutor Perini Co. has a 52 week low of $7.83 and a 52 week high of $34.55. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.53. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of -10.86 and a beta of 1.50. The stock has a 50 day moving average of $27.51 and a 200-day moving average of $23.83.

Tutor Perini (NYSE:TPC) last released 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). The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.17 billion. Tutor Perini had a negative return on equity of 9.56% and a negative net margin of 3.08%. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.71) EPS. As a group, analysts forecast that Tutor Perini Co. will post -1.47 EPS for the current year.

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.