Empowered Funds LLC Grows Position in Tutor Perini Co. (NYSE:TPC)

Empowered Funds LLC raised its stake in shares of Tutor Perini Co. (NYSE:TPC - Free Report) by 5.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 282,247 shares of the construction company's stock after buying an additional 13,726 shares during the quarter. Empowered Funds LLC owned about 0.54% of Tutor Perini worth $6,830,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Barclays PLC grew its holdings in Tutor Perini by 298.0% during the 3rd quarter. Barclays PLC now owns 69,875 shares of the construction company's stock valued at $1,898,000 after buying an additional 52,319 shares in the last quarter. Foundry Partners LLC grew its holdings in Tutor Perini by 18.2% during the 3rd quarter. Foundry Partners LLC now owns 216,915 shares of the construction company's stock valued at $5,891,000 after buying an additional 33,440 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Tutor Perini by 611.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 536,384 shares of the construction company's stock valued at $14,568,000 after buying an additional 460,945 shares in the last quarter. Geode Capital Management LLC grew its holdings in 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 valued at $27,795,000 after buying an additional 38,458 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in Tutor Perini by 67.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 93,202 shares of the construction company's stock valued at $2,255,000 after buying an additional 37,478 shares in the last quarter. Hedge funds and other institutional investors own 65.01% of the company's stock.

Wall Street Analyst Weigh In

TPC has been the subject of a number of research analyst reports. Vertical Research assumed coverage on Tutor Perini in a research report on Tuesday, December 10th. They set a "buy" rating and a $38.00 price target for the company. StockNews.com lowered Tutor Perini from a "buy" rating to a "hold" rating in a report on Tuesday, January 28th. B. Riley boosted their price objective on Tutor Perini from $38.00 to $40.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Finally, UBS Group boosted their price objective on Tutor Perini from $27.00 to $39.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd.

Tutor Perini Price Performance

TPC traded up $0.39 during midday trading on Friday, hitting $23.66. The stock had a trading volume of 387,872 shares, compared to its average volume of 617,086. The company has a market cap of $1.24 billion, a P/E ratio of -9.43 and a beta of 1.52. The business has a fifty day moving average of $24.54 and a 200 day moving average of $25.02. 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 Co. has a 1 year low of $8.68 and a 1 year high of $34.55.

Insiders Place Their Bets

In other Tutor Perini news, Director Raymond R. Oneglia sold 100,000 shares of the company's stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $28.73, for a total value of $2,873,000.00. Following the completion of the sale, the director now owns 400,000 shares of the company's stock, valued at $11,492,000. This represents a 20.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 19.50% of the stock is owned by insiders.

About Tutor Perini

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.