Tutor Perini Co. (NYSE:TPC) Shares Bought by Rhumbline Advisers

Rhumbline Advisers grew its stake in shares of Tutor Perini Co. (NYSE:TPC) by 3.1% during the 2nd quarter, Holdings Channel.com reports. The firm owned 84,385 shares of the construction company’s stock after acquiring an additional 2,534 shares during the period. Rhumbline Advisers’ holdings in Tutor Perini were worth $1,838,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in TPC. Donald Smith & CO. Inc. boosted its position in shares of Tutor Perini by 3.9% in the 1st quarter. Donald Smith & CO. Inc. now owns 4,052,678 shares of the construction company’s stock worth $58,602,000 after buying an additional 152,779 shares in the last quarter. Vanguard Group Inc. increased its position in Tutor Perini by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 2,333,269 shares of the construction company’s stock worth $33,739,000 after purchasing an additional 25,246 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Tutor Perini by 2.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,085,769 shares of the construction company’s stock worth $18,981,000 after purchasing an additional 55,823 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Tutor Perini by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,992,319 shares of the construction company’s stock worth $18,130,000 after purchasing an additional 53,927 shares in the last quarter. Finally, Hennessy Advisors Inc. purchased a new position in Tutor Perini in the 2nd quarter worth approximately $12,362,000. 65.01% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, UBS Group upgraded 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 report on Friday, June 14th.

Tutor Perini Stock Performance

Tutor Perini stock opened at $26.22 on Friday. The stock has a market cap of $1.37 billion, a P/E ratio of -13.18 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 stock has a 50 day moving average of $22.64 and a 200-day moving average of $19.37. Tutor Perini Co. has a 52 week low of $6.85 and a 52 week high of $27.05.

Tutor Perini (NYSE:TPC) last issued its earnings results on Thursday, August 1st. The construction company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.15). Tutor Perini had a negative return on equity of 4.49% and a negative net margin of 1.59%. The company 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 business earned ($0.72) earnings per share. Tutor Perini’s quarterly revenue was up 10.4% on a year-over-year basis. On average, analysts expect that Tutor Perini Co. will post 1.12 EPS for the current fiscal year.

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.