Plato Investment Management Ltd Has $453,000 Stock Position in Tutor Perini Corporation $TPC

Plato Investment Management Ltd boosted its stake in shares of Tutor Perini Corporation (NYSE:TPC) by 5,803.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,966 shares of the construction company’s stock after purchasing an additional 6,848 shares during the quarter. Plato Investment Management Ltd’s holdings in Tutor Perini were worth $453,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. First Trust Advisors LP raised its position in shares of Tutor Perini by 4,166.1% during the second quarter. First Trust Advisors LP now owns 1,153,214 shares of the construction company’s stock valued at $53,947,000 after buying an additional 1,126,182 shares during the last quarter. Prudential Financial Inc. raised its holdings in Tutor Perini by 438.4% in the 2nd quarter. Prudential Financial Inc. now owns 610,720 shares of the construction company’s stock valued at $28,569,000 after acquiring an additional 497,296 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Tutor Perini by 209.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 720,405 shares of the construction company’s stock worth $47,251,000 after acquiring an additional 487,529 shares during the period. Millennium Management LLC grew its holdings in shares of Tutor Perini by 165.2% during the 1st quarter. Millennium Management LLC now owns 383,530 shares of the construction company’s stock worth $8,890,000 after purchasing an additional 238,933 shares in the last quarter. Finally, Cubist Systematic Strategies LLC grew its holdings in shares of Tutor Perini by 397.2% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 292,077 shares of the construction company’s stock worth $13,663,000 after purchasing an additional 233,335 shares in the last quarter. 65.01% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Tutor Perini news, CEO Gary G. Smalley bought 5,000 shares of the stock in a transaction dated Wednesday, November 19th. The stock was bought at an average cost of $61.08 per share, for a total transaction of $305,400.00. Following the completion of the purchase, the chief executive officer owned 118,075 shares in the company, valued at $7,212,021. This represents a 4.42% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Peter Arkley purchased 15,147 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The stock was acquired at an average cost of $64.39 per share, with a total value of $975,315.33. Following the completion of the acquisition, the director directly owned 191,717 shares of the company’s stock, valued at $12,344,657.63. The trade was a 8.58% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 45,000 shares of company stock valued at $2,870,313 over the last ninety days. Insiders own 17.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on TPC. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tutor Perini in a research report on Wednesday, January 21st. B. Riley Financial reiterated a “buy” rating on shares of Tutor Perini in a research report on Thursday, November 6th. UBS Group increased their price target on shares of Tutor Perini from $67.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Finally, Wall Street Zen cut shares of Tutor Perini from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 22nd. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Tutor Perini currently has an average rating of “Hold” and a consensus target price of $80.50.

Tutor Perini Trading Up 4.7%

Shares of Tutor Perini stock opened at $83.68 on Monday. Tutor Perini Corporation has a 12-month low of $18.33 and a 12-month high of $84.65. The stock has a market capitalization of $4.41 billion, a P/E ratio of -157.88 and a beta of 2.20. The company has a 50-day simple moving average of $72.15 and a 200 day simple moving average of $64.91. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.31.

Tutor Perini Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 23rd. Investors of record on Tuesday, December 9th were given a dividend of $0.06 per share. The ex-dividend date was Tuesday, December 9th. This represents a $0.24 dividend on an annualized basis and a yield of 0.3%. Tutor Perini’s dividend payout ratio is -45.28%.

Tutor Perini Company Profile

Tutor Perini Corporation is a leading U.S. construction company that provides diversified general contracting, construction management and design-build services to private clients and public agencies. The company operates through three principal market segments—Civil, Building and Specialty Contractors—serving a broad range of infrastructure and vertical construction needs.

In its Civil segment, Tutor Perini delivers heavy civil infrastructure projects including highways and bridges, water management, dams, tunnels and rail systems.