Bank of New York Mellon Corp Acquires 12,622 Shares of Tutor Perini Co. (NYSE:TPC)

Bank of New York Mellon Corp grew its holdings in shares of Tutor Perini Co. (NYSE:TPC) by 8.8% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 155,931 shares of the construction company’s stock after purchasing an additional 12,622 shares during the period. Bank of New York Mellon Corp’s holdings in Tutor Perini were worth $3,396,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. CWM LLC raised its holdings in Tutor Perini by 142.8% during the second quarter. CWM LLC now owns 1,714 shares of the construction company’s stock worth $37,000 after acquiring an additional 1,008 shares in the last quarter. EntryPoint Capital LLC acquired a new position in shares of Tutor Perini during the 1st quarter worth approximately $77,000. Price T Rowe Associates Inc. MD bought a new stake in shares of Tutor Perini during the 1st quarter worth approximately $177,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Tutor Perini in the 4th quarter valued at approximately $184,000. Finally, Hillsdale Investment Management Inc. bought a new position in shares of Tutor Perini in the first quarter valued at $224,000. 65.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, UBS Group raised shares of Tutor Perini from a “neutral” rating to a “buy” rating and upped their price target for the stock from $14.00 to $27.00 in a research report on Friday, June 14th.

Tutor Perini Trading Up 3.6 %

Shares of NYSE:TPC opened at $24.18 on Friday. The company has a 50-day simple moving average of $22.44 and a 200 day simple moving average of $19.04. The company has a market capitalization of $1.27 billion, a P/E ratio of -11.85 and a beta of 1.51. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.65 and a current ratio of 1.65. Tutor Perini Co. has a 52-week low of $6.85 and a 52-week high of $26.88.

Tutor Perini (NYSE:TPC) last released its quarterly earnings data on Thursday, August 1st. The construction company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.15). The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.14 billion. Tutor Perini had a negative net margin of 1.59% and a negative return on equity of 4.49%. The business’s quarterly revenue was up 10.4% on a year-over-year basis. During the same period in the previous year, the business earned ($0.72) earnings per share. Sell-side analysts forecast that Tutor Perini Co. will post 1.12 earnings per share 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.