KLP Kapitalforvaltning AS Boosts Stock Holdings in Tutor Perini Corporation $TPC

KLP Kapitalforvaltning AS grew its position in shares of Tutor Perini Corporation (NYSE:TPC) by 3.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,900 shares of the construction company’s stock after acquiring an additional 300 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Tutor Perini were worth $463,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC boosted its holdings in shares of Tutor Perini by 32.5% in the 1st quarter. GAMMA Investing LLC now owns 2,080 shares of the construction company’s stock worth $48,000 after buying an additional 510 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Tutor Perini by 7.6% in the 1st quarter. Bank of New York Mellon Corp now owns 127,546 shares of the construction company’s stock worth $2,957,000 after buying an additional 9,001 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Tutor Perini by 75.1% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,363 shares of the construction company’s stock valued at $542,000 after acquiring an additional 10,018 shares during the period. Voya Investment Management LLC raised its stake in Tutor Perini by 70.0% in the 1st quarter. Voya Investment Management LLC now owns 22,573 shares of the construction company’s stock valued at $523,000 after acquiring an additional 9,294 shares during the period. Finally, New Age Alpha Advisors LLC bought a new stake in Tutor Perini in the 1st quarter valued at about $54,000. 65.01% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Zacks Research cut Tutor Perini from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Wall Street Zen upgraded Tutor Perini from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 11th. UBS Group boosted their price objective on Tutor Perini from $59.00 to $67.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. B. Riley boosted their price objective on Tutor Perini from $50.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Tutor Perini in a research note on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $60.00.

Tutor Perini Stock Up 0.1%

Shares of NYSE TPC opened at $64.28 on Friday. Tutor Perini Corporation has a 12 month low of $18.33 and a 12 month high of $68.09. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $3.39 billion, a price-to-earnings ratio of -25.51 and a beta of 1.86. The business has a 50-day moving average of $61.53 and a 200-day moving average of $45.09.

Tutor Perini (NYSE:TPC) last issued its quarterly earnings data on Wednesday, August 6th. The construction company reported $1.41 EPS for the quarter, topping the consensus estimate of $0.29 by $1.12. Tutor Perini had a negative return on equity of 6.41% and a negative net margin of 2.77%.The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same quarter in the previous year, the firm earned $0.02 earnings per share. Tutor Perini’s revenue was up 21.8% on a year-over-year basis.

Insider Activity

In other news, Director Sidney J. Feltenstein sold 124,668 shares of the business’s stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $65.96, for a total transaction of $8,223,101.28. Following the completion of the transaction, the director owned 187,274 shares of the company’s stock, valued at approximately $12,352,593.04. The trade was a 39.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Ronald N. Tutor sold 116,856 shares of the business’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $64.21, for a total value of $7,503,323.76. Following the transaction, the chairman directly owned 4,154,129 shares of the company’s stock, valued at $266,736,623.09. The trade was a 2.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 725,000 shares of company stock valued at $44,824,931 in the last three months. 17.30% of the stock is owned by insiders.

Tutor Perini Company 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.