Tutor Perini Co. (NYSE:TPC) Position Increased by Barclays PLC

Barclays PLC raised its position in Tutor Perini Co. (NYSE:TPC) by 298.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,875 shares of the construction company’s stock after purchasing an additional 52,319 shares during the quarter. Barclays PLC’s holdings in Tutor Perini were worth $1,898,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC acquired a new stake in shares of Tutor Perini during the 2nd quarter valued at about $51,000. Plato Investment Management Ltd acquired a new stake in Tutor Perini in the third quarter valued at approximately $52,000. nVerses Capital LLC bought a new stake in Tutor Perini in the second quarter worth approximately $63,000. CWM LLC increased its stake in shares of Tutor Perini by 53.0% during the 3rd quarter. CWM LLC now owns 2,622 shares of the construction company’s stock worth $71,000 after purchasing an additional 908 shares during the last quarter. Finally, Quest Partners LLC lifted its stake in shares of Tutor Perini by 537.2% in the 2nd 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 last quarter. 65.01% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Tutor Perini

In other Tutor Perini news, Director Raymond R. Oneglia sold 50,000 shares of Tutor Perini stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $28.68, for a total transaction of $1,434,000.00. Following the sale, the director now directly owns 250,000 shares of the company’s stock, valued at approximately $7,170,000. The trade was a 16.67 % 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 this link. Also, CEO Ronald N. Tutor sold 125,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was 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 owns 3,257,313 shares of the company’s stock, valued at $100,064,655.36. This trade represents a 3.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 325,000 shares of company stock valued at $9,686,000 in the last quarter. Corporate insiders own 19.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on TPC shares. StockNews.com downgraded Tutor Perini from a “buy” rating to a “hold” rating in a research note on Wednesday. Vertical Research started coverage on shares of Tutor Perini in a report on Tuesday, December 10th. They set a “buy” rating and a $38.00 price objective for the company. UBS Group boosted their target price on shares of Tutor Perini from $27.00 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, B. Riley raised their price target on Tutor Perini from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, November 7th.

Tutor Perini Trading Up 0.6 %

Shares of Tutor Perini stock opened at $24.48 on Friday. The company has a market cap of $1.28 billion, a price-to-earnings ratio of -9.75 and a beta of 1.49. Tutor Perini Co. has a 1 year low of $7.83 and a 1 year high of $34.55. The company’s fifty day simple moving average is $27.37 and its 200-day simple moving average is $24.61. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.53.

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