Tutor Perini Co. (NYSE:TPC) Shares Bought by American Century Companies Inc.

American Century Companies Inc. lifted its position in shares of Tutor Perini Co. (NYSE:TPC) by 59.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 759,665 shares of the construction company’s stock after buying an additional 284,627 shares during the quarter. American Century Companies Inc.’s holdings in Tutor Perini were worth $16,546,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in TPC. Hennessy Advisors Inc. purchased a new position in Tutor Perini during the 2nd quarter valued at about $12,362,000. Acadian Asset Management LLC increased its stake 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 purchasing an additional 246,901 shares in the last quarter. Donald Smith & CO. Inc. raised its position 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 during the last quarter. Verus Capital Partners LLC raised its position in shares of Tutor Perini by 61.9% during the 2nd quarter. Verus Capital Partners LLC now owns 345,900 shares of the construction company’s stock worth $7,534,000 after purchasing an additional 132,200 shares during the last quarter. Finally, Los Angeles Capital Management LLC lifted 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 Trading Up 0.7 %

Shares of TPC stock opened at $26.22 on Friday. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of -12.85 and a beta of 1.51. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 0.50. The firm has a 50-day moving average price of $22.64 and a 200 day moving average price of $19.37. Tutor Perini Co. has a twelve month low of $6.85 and a twelve month high of $27.05.

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

Analysts Set New Price Targets

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

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.