1,908 Shares in Tutor Perini Co. (NYSE:TPC) Acquired by Plato Investment Management Ltd

Plato Investment Management Ltd purchased a new stake in Tutor Perini Co. (NYSE:TPC) in the 3rd quarter, HoldingsChannel.com reports. The fund purchased 1,908 shares of the construction company’s stock, valued at approximately $52,000.

Other hedge funds have also recently made changes to their positions in the company. CWM LLC grew its position in Tutor Perini by 142.8% during the second quarter. CWM LLC now owns 1,714 shares of the construction company’s stock worth $37,000 after buying an additional 1,008 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Tutor Perini during the 2nd quarter valued at about $51,000. nVerses Capital LLC purchased a new position in shares of Tutor Perini during the second quarter worth about $63,000. USA Financial Formulas increased its position in shares of Tutor Perini by 19.6% in the third quarter. USA Financial Formulas now owns 3,451 shares of the construction company’s stock worth $94,000 after purchasing an additional 566 shares during the last quarter. Finally, Quest Partners LLC lifted its position in Tutor Perini by 537.2% during the second quarter. Quest Partners LLC now owns 4,148 shares of the construction company’s stock valued at $90,000 after purchasing an additional 3,497 shares during the last quarter. 65.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. B. Riley raised their price objective on shares of Tutor Perini from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. StockNews.com cut Tutor Perini from a “buy” rating to a “hold” rating in a research note on Friday. Finally, UBS Group lifted their price target on Tutor Perini from $27.00 to $39.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd.

Insiders Place Their Bets

In other news, CEO Ronald N. Tutor sold 50,000 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $30.78, for a total transaction of $1,539,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,362,267 shares in the company, valued at approximately $72,710,578.26. This represents a 2.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 19.50% of the company’s stock.

Tutor Perini Stock Up 0.6 %

Shares of TPC opened at $27.73 on Friday. Tutor Perini Co. has a fifty-two week low of $7.74 and a fifty-two week high of $34.55. The firm has a 50 day moving average price of $26.70 and a 200-day moving average price of $23.22. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.55 and a current ratio of 1.55.

Tutor Perini (NYSE:TPC) last posted its quarterly earnings results on Wednesday, November 6th. The construction company reported ($1.92) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.89) by ($0.03). The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Tutor Perini had a negative net margin of 3.08% and a negative return on equity of 9.56%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.71) earnings per share. As a group, research analysts forecast that Tutor Perini Co. will post -1.47 earnings per share for the current year.

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.