Quantbot Technologies LP Acquires 9,691 Shares of Tutor Perini Co. (NYSE:TPC)

Quantbot Technologies LP raised its holdings in Tutor Perini Co. (NYSE:TPC) by 88.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 20,597 shares of the construction company’s stock after buying an additional 9,691 shares during the period. Quantbot Technologies LP’s holdings in Tutor Perini were worth $559,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. CWM LLC grew its holdings in shares of Tutor Perini by 142.8% in the second quarter. CWM LLC now owns 1,714 shares of the construction company’s stock worth $37,000 after purchasing an additional 1,008 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in Tutor Perini in the 2nd quarter worth about $51,000. Plato Investment Management Ltd purchased a new position in shares of Tutor Perini during the third quarter worth approximately $52,000. nVerses Capital LLC bought a new stake in shares of Tutor Perini during the second quarter valued at approximately $63,000. Finally, Quest Partners LLC boosted its holdings in shares of Tutor Perini by 537.2% in the second quarter. Quest Partners LLC now owns 4,148 shares of the construction company’s stock valued at $90,000 after purchasing an additional 3,497 shares during the period. Hedge funds and other institutional investors own 65.01% of the company’s stock.

Insiders Place Their Bets

In other Tutor Perini news, CEO Ronald N. Tutor sold 125,000 shares of Tutor Perini stock in a transaction on Monday, November 11th. The shares were sold at an average price of $30.72, for a total value of $3,840,000.00. Following the transaction, the chief executive officer now directly owns 3,257,313 shares of the company’s stock, valued at approximately $100,064,655.36. The trade was a 3.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Raymond R. Oneglia sold 50,000 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $28.68, for a total value of $1,434,000.00. Following the sale, the director now owns 250,000 shares of the company’s stock, valued at approximately $7,170,000. This represents a 16.67 % 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 worth $9,686,000. 19.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have commented on the company. UBS Group raised their price objective on Tutor Perini from $27.00 to $39.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. StockNews.com lowered Tutor Perini from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Finally, B. Riley upped their price objective on shares of Tutor Perini from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th.

Tutor Perini Price Performance

NYSE TPC opened at $27.15 on Tuesday. The company has a market cap of $1.42 billion, a PE ratio of -10.83 and a beta of 1.49. Tutor Perini Co. has a 52-week low of $7.83 and a 52-week high of $34.55. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.55 and a current ratio of 1.55. The firm’s 50 day moving average price is $27.60 and its 200-day moving average price is $24.00.

Tutor Perini (NYSE:TPC) last announced its quarterly earnings results on Wednesday, November 6th. The construction company reported ($1.92) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.89) by ($0.03). The company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Tutor Perini had a negative net margin of 3.08% and a negative return on equity of 9.56%. The company’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.71) earnings per share. Sell-side analysts forecast that Tutor Perini Co. will post -1.47 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.