Tutor Perini Co. (NYSE:TPC) Shares Acquired by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. raised its stake in Tutor Perini Co. (NYSE:TPC - Free Report) by 67.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 93,202 shares of the construction company's stock after purchasing an additional 37,478 shares during the quarter. Assenagon Asset Management S.A. owned 0.18% of Tutor Perini worth $2,255,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Plato Investment Management Ltd purchased a new position in Tutor Perini in the 3rd quarter valued at $52,000. CWM LLC boosted its holdings in shares of Tutor Perini by 53.0% in the third quarter. CWM LLC now owns 2,622 shares of the construction company's stock valued at $71,000 after acquiring an additional 908 shares in the last quarter. USA Financial Formulas increased its stake in shares of Tutor Perini by 19.6% during the third quarter. USA Financial Formulas now owns 3,451 shares of the construction company's stock worth $94,000 after acquiring an additional 566 shares during the period. FMR LLC raised its holdings in Tutor Perini by 103.1% during the third quarter. FMR LLC now owns 4,725 shares of the construction company's stock worth $128,000 after purchasing an additional 2,399 shares in the last quarter. Finally, Point72 DIFC Ltd purchased a new position in Tutor Perini during the second quarter worth about $158,000. Institutional investors and hedge funds own 65.01% of the company's stock.

Wall Street Analyst Weigh In

TPC has been the topic of several recent analyst reports. UBS Group boosted their target price on Tutor Perini from $27.00 to $39.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. B. Riley boosted their price objective on shares of Tutor Perini from $38.00 to $40.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. StockNews.com raised shares of Tutor Perini from a "hold" rating to a "buy" rating in a report on Friday, January 3rd. Finally, Vertical Research initiated coverage on Tutor Perini in a research note on Tuesday, December 10th. They set a "buy" rating and a $38.00 price target on the stock.

Insider Transactions at Tutor Perini

In other Tutor Perini news, CEO Ronald N. Tutor sold 125,000 shares of the firm's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $30.72, for a total value of $3,840,000.00. Following the transaction, the chief executive officer now directly owns 3,257,313 shares of the company's stock, valued at $100,064,655.36. This trade represents a 3.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Raymond R. Oneglia sold 100,000 shares of the business's stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $28.73, for a total transaction of $2,873,000.00. Following the transaction, the director now directly owns 400,000 shares in the company, valued at approximately $11,492,000. The trade was a 20.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 325,000 shares of company stock worth $9,686,000 over the last ninety days. 19.50% of the stock is currently owned by corporate insiders.

Tutor Perini Price Performance

NYSE:TPC traded down $0.40 during mid-day trading on Thursday, hitting $26.76. 567,965 shares of the company's stock traded hands, compared to its average volume of 585,969. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.55 and a current ratio of 1.55. The company has a market cap of $1.40 billion, a PE ratio of -10.66 and a beta of 1.54. The firm's 50 day simple moving average is $25.98 and its 200 day simple moving average is $25.08. Tutor Perini Co. has a 1 year low of $8.45 and a 1 year high of $34.55.

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