Asset Management One Co. Ltd. Invests $2.91 Million in Tutor Perini Corporation $TPC

Asset Management One Co. Ltd. bought a new position in shares of Tutor Perini Corporation (NYSE:TPC) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 62,246 shares of the construction company’s stock, valued at approximately $2,912,000. Asset Management One Co. Ltd. owned 0.12% of Tutor Perini as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Donald Smith & CO. Inc. raised its position in shares of Tutor Perini by 16.8% during the first quarter. Donald Smith & CO. Inc. now owns 4,031,220 shares of the construction company’s stock worth $93,444,000 after purchasing an additional 580,963 shares during the period. Vanguard Group Inc. raised its position in shares of Tutor Perini by 4.8% during the first quarter. Vanguard Group Inc. now owns 2,829,370 shares of the construction company’s stock worth $65,585,000 after purchasing an additional 130,747 shares during the period. Boston Partners grew its holdings in Tutor Perini by 53.3% during the first quarter. Boston Partners now owns 928,264 shares of the construction company’s stock worth $21,509,000 after buying an additional 322,814 shares in the last quarter. Invesco Ltd. grew its holdings in Tutor Perini by 34.4% during the first quarter. Invesco Ltd. now owns 777,417 shares of the construction company’s stock worth $18,021,000 after buying an additional 198,830 shares in the last quarter. Finally, Brightline Capital Management LLC grew its holdings in Tutor Perini by 24.7% during the first quarter. Brightline Capital Management LLC now owns 702,000 shares of the construction company’s stock worth $16,272,000 after buying an additional 139,000 shares in the last quarter. 65.01% of the stock is owned by institutional investors and hedge funds.

Tutor Perini Stock Performance

NYSE:TPC opened at $69.07 on Thursday. The business’s 50-day moving average price is $63.21 and its two-hundred day moving average price is $47.86. Tutor Perini Corporation has a twelve month low of $18.33 and a twelve month high of $71.07. The stock has a market cap of $3.64 billion, a P/E ratio of -27.41 and a beta of 1.86. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.32.

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

Insider Activity at Tutor Perini

In related news, Director Sidney J. Feltenstein sold 124,668 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director directly owned 187,274 shares in the company, valued at $12,352,593.04. This trade represents a 39.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Ronald N. Tutor sold 116,856 shares of the firm’s stock in a transaction that occurred on 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 owned 4,154,129 shares in the company, valued at approximately $266,736,623.09. The trade was a 2.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 725,000 shares of company stock worth $44,824,931. 17.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. B. Riley upped their price target on Tutor Perini from $50.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tutor Perini in a report on Wednesday, October 8th. UBS Group upped their price target on Tutor Perini from $59.00 to $67.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Wall Street Zen upgraded Tutor Perini from a “buy” rating to a “strong-buy” rating in a report on Monday, August 11th. Finally, Zacks Research downgraded Tutor Perini from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Three investment 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. According to MarketBeat, Tutor Perini has an average rating of “Hold” and a consensus target price of $60.00.

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.