Tutor Perini Co. (NYSE:TPC) Shares Purchased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lifted its holdings in Tutor Perini Co. (NYSE:TPC) by 35.3% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 22,827 shares of the construction company’s stock after purchasing an additional 5,953 shares during the period. The Manufacturers Life Insurance Company’s holdings in Tutor Perini were worth $620,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. 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 valued at $37,000 after purchasing an additional 1,008 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Tutor Perini in the second quarter valued at approximately $51,000. Plato Investment Management Ltd acquired a new position in shares of Tutor Perini in the third quarter valued at approximately $52,000. nVerses Capital LLC acquired a new position in shares of Tutor Perini in the second quarter valued at approximately $63,000. Finally, Quest Partners LLC grew 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 in the last quarter. Institutional investors and hedge funds own 65.01% of the company’s stock.

Analyst Upgrades and Downgrades

TPC has been the subject of a number of research reports. B. Riley lifted their price objective on shares of Tutor Perini from $38.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, November 7th. UBS Group boosted their price target on shares of Tutor Perini from $27.00 to $39.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. StockNews.com cut shares of Tutor Perini from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Finally, Vertical Research started coverage on shares of Tutor Perini in a report on Tuesday. They set a “buy” rating and a $38.00 price target for the company.

Tutor Perini Trading Up 0.5 %

NYSE TPC opened at $26.20 on Friday. The stock has a market capitalization of $1.37 billion, a PE ratio of -10.44 and a beta of 1.49. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.53. Tutor Perini Co. has a 52 week low of $7.83 and a 52 week high of $34.55. The firm has a 50 day moving average of $27.66 and a two-hundred day moving average of $24.38.

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

Insider Transactions at Tutor Perini

In related news, Director Raymond R. Oneglia sold 100,000 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $28.73, for a total transaction of $2,873,000.00. Following the completion of the sale, the director now owns 400,000 shares in the company, valued at $11,492,000. This represents a 20.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ronald N. Tutor sold 50,000 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $30.78, for a total transaction of $1,539,000.00. Following the sale, the chief executive officer now owns 2,362,267 shares of the company’s stock, valued at approximately $72,710,578.26. This represents a 2.07 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 325,000 shares of company stock worth $9,686,000. 19.50% of the stock is currently owned by insiders.

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.