Allspring Global Investments Holdings LLC Buys Shares of 11,677 Tutor Perini Co. (NYSE:TPC)

Allspring Global Investments Holdings LLC bought a new stake in shares of Tutor Perini Co. (NYSE:TPC) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 11,677 shares of the construction company’s stock, valued at approximately $83,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. BlackRock Inc. lifted its stake in shares of Tutor Perini by 5.2% in the 3rd quarter. BlackRock Inc. now owns 5,225,053 shares of the construction company’s stock valued at $28,842,000 after purchasing an additional 260,354 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Tutor Perini by 2.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,658,964 shares of the construction company’s stock worth $28,716,000 after acquiring an additional 69,285 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Tutor Perini by 8.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,773,000 shares of the construction company’s stock worth $10,939,000 after acquiring an additional 136,700 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Tutor Perini by 50.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,425,450 shares of the construction company’s stock worth $8,795,000 after acquiring an additional 475,182 shares during the last quarter. Finally, AQR Capital Management LLC lifted its position in Tutor Perini by 18.6% during the 1st quarter. AQR Capital Management LLC now owns 1,274,943 shares of the construction company’s stock worth $7,866,000 after acquiring an additional 199,881 shares during the last quarter. Institutional investors and hedge funds own 63.61% of the company’s stock.

Tutor Perini Stock Performance

NYSE:TPC opened at $7.79 on Friday. The firm’s 50-day moving average is $7.60 and its 200-day moving average is $7.39. Tutor Perini Co. has a 52-week low of $4.90 and a 52-week high of $9.60. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.75 and a current ratio of 1.75. The company has a market cap of $405.24 million, a price-to-earnings ratio of -1.86 and a beta of 1.52.

Tutor Perini (NYSE:TPC) last posted its quarterly earnings data on Thursday, November 9th. The construction company reported ($0.71) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.77). Tutor Perini had a negative return on equity of 15.65% and a negative net margin of 5.75%. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.01 billion. Equities research analysts anticipate that Tutor Perini Co. will post -1.63 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on TPC. StockNews.com began coverage on shares of Tutor Perini in a research report on Thursday, October 5th. They set a “hold” rating for the company. B. Riley boosted their target price on shares of Tutor Perini from $8.00 to $11.00 in a research report on Tuesday, August 8th.

Insider Activity at Tutor Perini

In related news, CEO Ronald N. Tutor sold 50,000 shares of the company’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $8.05, for a total value of $402,500.00. Following the sale, the chief executive officer now owns 3,486,940 shares of the company’s stock, valued at $28,069,867. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Ronald N. Tutor sold 25,000 shares of the company’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $8.00, for a total value of $200,000.00. Following the sale, the chief executive officer now owns 3,536,940 shares of the company’s stock, valued at $28,295,520. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Ronald N. Tutor sold 50,000 shares of the company’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $8.05, for a total transaction of $402,500.00. Following the sale, the chief executive officer now directly owns 3,486,940 shares in the company, valued at $28,069,867. The disclosure for this sale can be found here. Insiders have sold a total of 100,000 shares of company stock valued at $809,250 over the last quarter. 20.90% of the stock is owned by company insiders.

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 worldwide. It operates in three segments: Civil, Building, and Specialty Contractors. The Civil segment engages in the public works construction and the replacement and reconstruction of infrastructure; and offers civil contracting services, including construction and rehabilitation of highways, bridges, tunnels, mass-transit systems, military defense facilities, and water management and wastewater treatment facilities, as well as provides drilling, foundation, and excavation support for shoring, bridges, piers, roads, and highway projects.