JPMorgan Chase & Co. Purchases 460,945 Shares of Tutor Perini Co. (NYSE:TPC)

JPMorgan Chase & Co. grew its holdings in Tutor Perini Co. (NYSE:TPC - Free Report) by 611.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 536,384 shares of the construction company's stock after acquiring an additional 460,945 shares during the period. JPMorgan Chase & Co. owned 1.02% of Tutor Perini worth $14,568,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Plato Investment Management Ltd purchased a new stake in shares of Tutor Perini in the 3rd quarter worth $52,000. CWM LLC grew its holdings in Tutor Perini by 53.0% during 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 during the period. USA Financial Formulas grew its holdings in Tutor Perini by 19.6% during 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 period. Quest Partners LLC increased its position in Tutor Perini by 537.2% in the second quarter. Quest Partners LLC now owns 4,148 shares of the construction company's stock worth $90,000 after buying an additional 3,497 shares in the last quarter. Finally, FMR LLC raised its stake in shares of Tutor Perini by 103.1% in the third quarter. FMR LLC now owns 4,725 shares of the construction company's stock worth $128,000 after buying an additional 2,399 shares during the period. Hedge funds and other institutional investors own 65.01% of the company's stock.

Wall Street Analysts Forecast Growth

TPC has been the subject of a number of recent research reports. Vertical Research started coverage on Tutor Perini in a research note on Tuesday, December 10th. They set a "buy" rating and a $38.00 price objective for the company. StockNews.com upgraded shares of Tutor Perini from a "hold" rating to a "buy" rating in a research report on Friday, January 3rd. UBS Group raised their price objective on shares of Tutor Perini from $27.00 to $39.00 and gave the company a "buy" rating in a research report on Wednesday, October 23rd. Finally, B. Riley upped their target price 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.

Tutor Perini Price Performance

TPC traded down $0.55 during trading on Friday, reaching $23.95. 364,513 shares of the company traded hands, compared to its average volume of 412,885. The company has a market cap of $1.26 billion, a P/E ratio of -9.54 and a beta of 1.54. 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 12-month low of $7.83 and a 12-month high of $34.55. The firm has a fifty day simple moving average of $26.73 and a 200 day simple moving average of $24.90.

Tutor Perini (NYSE:TPC - Get Free Report) last posted its 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). Tutor Perini had a negative net margin of 3.08% and a negative return on equity of 9.56%. The company had revenue of $1.08 billion for the quarter, compared to analysts' expectations of $1.17 billion. During the same period in the previous year, the business posted ($0.71) earnings per share. The business's revenue was up 2.1% on a year-over-year basis. On average, equities analysts forecast that Tutor Perini Co. will post -1.47 EPS for the current year.

Insiders Place Their Bets

In related news, Director Raymond R. Oneglia sold 50,000 shares of Tutor Perini stock in a transaction dated 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 completion of the transaction, the director now owns 250,000 shares in the company, valued at approximately $7,170,000. This trade represents a 16.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Ronald N. Tutor sold 125,000 shares of the business's stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 3,257,313 shares in the company, valued at $100,064,655.36. The trade was a 3.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 325,000 shares of company stock valued at $9,686,000 in the last quarter. 19.50% of the stock is currently 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.