Hillsdale Investment Management Inc. Has $4.42 Million Stock Position in Tutor Perini Corporation $TPC

Hillsdale Investment Management Inc. increased its holdings in shares of Tutor Perini Corporation (NYSE:TPC) by 39,576.5% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 67,450 shares of the construction company’s stock after purchasing an additional 67,280 shares during the period. Hillsdale Investment Management Inc. owned 0.13% of Tutor Perini worth $4,424,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. First Trust Advisors LP boosted its stake in shares of Tutor Perini by 4,166.1% during the 2nd quarter. First Trust Advisors LP now owns 1,153,214 shares of the construction company’s stock worth $53,947,000 after acquiring an additional 1,126,182 shares during the period. Prudential Financial Inc. lifted its holdings in Tutor Perini by 438.4% during the 2nd quarter. Prudential Financial Inc. now owns 610,720 shares of the construction company’s stock valued at $28,569,000 after purchasing an additional 497,296 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in Tutor Perini by 209.4% during the third quarter. Assenagon Asset Management S.A. now owns 720,405 shares of the construction company’s stock worth $47,251,000 after purchasing an additional 487,529 shares during the period. Millennium Management LLC boosted its position in Tutor Perini by 165.2% during the first 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 during the period. Finally, M&G PLC acquired a new position in shares of Tutor Perini in the third quarter valued at $15,658,000. Institutional investors own 65.01% of the company’s stock.

Analyst Ratings Changes

TPC has been the subject of a number of research reports. UBS Group raised their target price on shares of Tutor Perini from $67.00 to $86.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Wall Street Zen cut shares of Tutor Perini from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of Tutor Perini in a report on Wednesday, January 21st. Finally, B. Riley Financial reiterated a “buy” rating on shares of Tutor Perini in a research note on Thursday, November 6th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Tutor Perini has a consensus rating of “Hold” and a consensus price target of $80.50.

Tutor Perini Stock Performance

Shares of NYSE:TPC opened at $86.91 on Monday. Tutor Perini Corporation has a 12-month low of $18.33 and a 12-month high of $89.40. The company’s 50 day moving average price is $75.32 and its two-hundred day moving average price is $67.48. The firm has a market cap of $4.58 billion, a PE ratio of -163.97 and a beta of 2.20. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.31.

Insider Activity

In related news, Director Peter Arkley purchased 15,147 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The shares were bought at an average price of $64.39 per share, for a total transaction of $975,315.33. Following the completion of the transaction, the director owned 191,717 shares of the company’s stock, valued at approximately $12,344,657.63. This trade represents a 8.58% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 17.30% of the company’s stock.

Tutor Perini 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.