Hennessy Advisors Inc. Boosts Holdings in Tutor Perini Co. (NYSE:TPC)

Hennessy Advisors Inc. boosted its position in Tutor Perini Co. (NYSE:TPC - Free Report) by 6.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 682,981 shares of the construction company's stock after acquiring an additional 43,600 shares during the quarter. Hennessy Advisors Inc. owned 1.30% of Tutor Perini worth $16,528,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Plato Investment Management Ltd acquired a new position in shares of Tutor Perini during the 3rd quarter worth about $52,000. CWM LLC boosted its holdings in 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 purchasing an additional 908 shares in the last quarter. USA Financial Formulas increased its stake in Tutor Perini by 19.6% in the third quarter. USA Financial Formulas now owns 3,451 shares of the construction company's stock valued at $94,000 after purchasing an additional 566 shares during the last quarter. 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 stake in shares of Tutor Perini during the 2nd quarter worth approximately $158,000. Institutional investors and hedge funds own 65.01% of the company's stock.

Analyst Ratings Changes

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

Insider Transactions at Tutor Perini

In other Tutor Perini news, CEO Ronald N. Tutor sold 125,000 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $30.72, for a total value of $3,840,000.00. Following the completion of the transaction, the chief executive officer now directly owns 3,257,313 shares of the company's stock, valued at approximately $100,064,655.36. This trade represents a 3.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Raymond R. Oneglia sold 50,000 shares of the business's stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $28.68, for a total value of $1,434,000.00. Following the sale, the director now directly owns 250,000 shares in the company, valued at $7,170,000. This trade represents a 16.67 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 325,000 shares of company stock valued at $9,686,000. Corporate insiders own 19.50% of the company's stock.

Tutor Perini Stock Performance

TPC stock traded up $0.87 during trading on Friday, hitting $25.44. The company had a trading volume of 2,149,432 shares, compared to its average volume of 384,023. The firm has a 50-day moving average price of $26.14 and a 200-day moving average price of $24.97. 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 firm has a market cap of $1.33 billion, a PE ratio of -10.13 and a beta of 1.54. Tutor Perini Co. has a 1-year low of $7.83 and a 1-year high of $34.55.

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

Tutor Perini 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.