Allspring Global Investments Holdings LLC Has $3.40 Million Holdings in Tutor Perini Co. (NYSE:TPC)

Allspring Global Investments Holdings LLC increased its stake in shares of Tutor Perini Co. (NYSE:TPC - Free Report) by 40,975.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 140,477 shares of the construction company's stock after buying an additional 140,135 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.27% of Tutor Perini worth $3,400,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in TPC. Geode Capital Management LLC grew its holdings in shares of Tutor Perini by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,023,198 shares of the construction company's stock worth $27,795,000 after purchasing an additional 38,458 shares in the last quarter. State Street Corp lifted its position in Tutor Perini by 2.0% during the third quarter. State Street Corp now owns 975,082 shares of the construction company's stock worth $26,483,000 after purchasing an additional 19,518 shares during the period. Jacobs Levy Equity Management Inc. grew its stake in Tutor Perini by 129.4% during the third quarter. Jacobs Levy Equity Management Inc. now owns 783,396 shares of the construction company's stock worth $21,277,000 after buying an additional 441,858 shares in the last quarter. Hennessy Advisors Inc. increased its holdings in Tutor Perini by 6.8% in the 4th quarter. Hennessy Advisors Inc. now owns 682,981 shares of the construction company's stock valued at $16,528,000 after buying an additional 43,600 shares during the period. Finally, Fred Alger Management LLC acquired a new position in shares of Tutor Perini in the 3rd quarter valued at approximately $16,034,000. Institutional investors own 65.01% of the company's stock.

Tutor Perini Trading Down 16.3 %

Tutor Perini stock traded down $3.79 during trading hours on Friday, hitting $19.49. The stock had a trading volume of 415,417 shares, compared to its average volume of 595,680. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of -7.77 and a beta of 1.52. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.53. The business's 50 day simple moving average is $24.28 and its 200-day simple moving average is $25.04. Tutor Perini Co. has a one year low of $8.73 and a one year high of $34.55.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on TPC shares. Vertical Research began coverage on Tutor Perini in a report on Tuesday, December 10th. They set a "buy" rating and a $38.00 price target for the company. StockNews.com downgraded shares of Tutor Perini from a "buy" rating to a "hold" rating in a research note on Tuesday, January 28th. Finally, B. Riley increased their price objective on shares of Tutor Perini from $38.00 to $40.00 and gave the company a "buy" rating in a research note on Thursday, November 7th.

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.