Allspring Global Investments Holdings LLC purchased a new position in Tutor Perini Co. (NYSE:TPC – Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 2,336 shares of the construction company’s stock, valued at approximately $51,000.
Several other institutional investors also recently modified their holdings of TPC. Hennessy Advisors Inc. acquired a new stake in shares of Tutor Perini during the 2nd quarter worth approximately $12,362,000. Acadian Asset Management LLC grew its holdings in shares of Tutor Perini by 152.0% during the 1st quarter. Acadian Asset Management LLC now owns 292,435 shares of the construction company’s stock worth $4,227,000 after purchasing an additional 176,398 shares in the last quarter. Donald Smith & CO. Inc. grew its holdings in shares of Tutor Perini by 3.9% during the 1st quarter. Donald Smith & CO. Inc. now owns 4,052,678 shares of the construction company’s stock worth $58,602,000 after purchasing an additional 152,779 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Tutor Perini by 262.2% during the 1st quarter. Assenagon Asset Management S.A. now owns 184,461 shares of the construction company’s stock worth $2,667,000 after purchasing an additional 133,534 shares in the last quarter. Finally, Los Angeles Capital Management LLC boosted its stake in Tutor Perini by 77.8% in the 1st quarter. Los Angeles Capital Management LLC now owns 151,727 shares of the construction company’s stock valued at $2,194,000 after buying an additional 66,408 shares in the last quarter. Institutional investors and hedge funds own 65.01% of the company’s stock.
Tutor Perini Price Performance
Shares of TPC stock opened at $22.02 on Tuesday. The stock’s fifty day simple moving average is $22.31 and its 200 day simple moving average is $18.72. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.65 and a quick ratio of 1.65. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of -10.79 and a beta of 1.51. Tutor Perini Co. has a one year low of $6.85 and a one year high of $26.88.
Analyst Upgrades and Downgrades
Separately, UBS Group raised Tutor Perini from a “neutral” rating to a “buy” rating and boosted their price target for the company from $14.00 to $27.00 in a research note on Friday, June 14th.
Read Our Latest Stock Report on Tutor Perini
Insiders Place Their Bets
In other Tutor Perini news, CEO Ronald N. Tutor sold 25,000 shares of the business’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $19.40, for a total value of $485,000.00. Following the transaction, the chief executive officer now owns 2,387,267 shares of the company’s stock, valued at $46,312,979.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 19.50% of the company’s stock.
Tutor Perini Company 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.
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