CenterBook Partners LP Buys Shares of 5,881 Tutor Perini Corporation $TPC

CenterBook Partners LP purchased a new position in shares of Tutor Perini Corporation (NYSE:TPC) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 5,881 shares of the construction company’s stock, valued at approximately $386,000.

Several other hedge funds have also made changes to their positions in TPC. Plato Investment Management Ltd grew its position in Tutor Perini by 5,803.4% in the 3rd quarter. Plato Investment Management Ltd now owns 6,966 shares of the construction company’s stock worth $453,000 after purchasing an additional 6,848 shares during the last quarter. Thompson Davis & CO. Inc. acquired a new position in shares of Tutor Perini during the third quarter worth approximately $784,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in Tutor Perini in the 3rd quarter worth approximately $5,177,000. M&G PLC acquired a new stake in Tutor Perini in the 3rd quarter valued at approximately $15,658,000. Finally, Navellier & Associates Inc. acquired a new stake in Tutor Perini in the 3rd quarter valued at approximately $1,433,000. Institutional investors own 65.01% of the company’s stock.

Tutor Perini Price Performance

Shares of NYSE TPC opened at $86.91 on Friday. Tutor Perini Corporation has a twelve month low of $18.33 and a twelve month high of $89.40. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.31. The firm has a 50-day moving average of $75.32 and a two-hundred day moving average of $67.34. The company has a market capitalization of $4.58 billion, a price-to-earnings ratio of -163.97 and a beta of 2.21.

Insider Transactions at Tutor Perini

In related news, Director Peter Arkley purchased 24,853 shares of the company’s stock in a transaction on Monday, November 24th. The shares were bought at an average price of $63.96 per share, with a total value of $1,589,597.88. Following the completion of the acquisition, the director owned 176,570 shares of the company’s stock, valued at approximately $11,293,417.20. This represents a 16.38% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 17.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Wall Street Zen lowered Tutor Perini from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 22nd. B. Riley Financial reaffirmed a “buy” rating on shares of Tutor Perini in a report on Thursday, November 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tutor Perini in a research report on Wednesday, January 21st. Finally, UBS Group boosted 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. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Tutor Perini presently has an average rating of “Hold” and a consensus price target of $80.50.

About Tutor Perini

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.