The Manufacturers Life Insurance Company Decreases Holdings in Tutor Perini Co. (NYSE:TPC)

The Manufacturers Life Insurance Company cut its holdings in shares of Tutor Perini Co. (NYSE:TPC) by 3.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 21,980 shares of the construction company’s stock after selling 847 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Tutor Perini were worth $532,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Tudor Investment Corp ET AL purchased a new position in shares of Tutor Perini during the fourth quarter worth approximately $284,000. Aquatic Capital Management LLC purchased a new position in shares of Tutor Perini during the fourth quarter worth approximately $793,000. Miller Value Partners LLC raised its stake in shares of Tutor Perini by 38.8% during the fourth quarter. Miller Value Partners LLC now owns 76,040 shares of the construction company’s stock worth $1,840,000 after acquiring an additional 21,240 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Tutor Perini by 15.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 111,873 shares of the construction company’s stock worth $2,708,000 after acquiring an additional 14,572 shares in the last quarter. Finally, Hsbc Holdings PLC raised its stake in shares of Tutor Perini by 9.8% during the fourth quarter. Hsbc Holdings PLC now owns 31,031 shares of the construction company’s stock worth $743,000 after acquiring an additional 2,759 shares in the last quarter. 65.01% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on TPC. StockNews.com raised shares of Tutor Perini from a “hold” rating to a “buy” rating in a research note on Thursday, May 8th. UBS Group raised their target price on shares of Tutor Perini from $40.00 to $41.00 and gave the stock a “buy” rating in a report on Friday, May 9th. Finally, B. Riley upgraded shares of Tutor Perini to a “strong-buy” rating in a report on Tuesday, March 18th.

Insider Activity at Tutor Perini

In related news, Director Raymond R. Oneglia sold 75,000 shares of Tutor Perini stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $36.23, for a total value of $2,717,250.00. Following the sale, the director now owns 115,470 shares in the company, valued at $4,183,478.10. The trade was a 39.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 17.30% of the stock is currently owned by company insiders.

Tutor Perini Stock Up 1.1%

Shares of Tutor Perini stock opened at $36.75 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.55 and a current ratio of 1.55. Tutor Perini Co. has a 52-week low of $14.50 and a 52-week high of $37.08. The stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of -14.64 and a beta of 1.62. The company’s 50 day moving average price is $24.25 and its 200-day moving average price is $25.10.

Tutor Perini (NYSE:TPC) last released its quarterly earnings results on Wednesday, May 7th. The construction company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.47. The business had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Tutor Perini had a negative net margin of 3.08% and a negative return on equity of 9.56%. The firm’s revenue for the quarter was up 18.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.30 earnings per share.

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.