Public Employees Retirement System of Ohio Acquires 31,772 Shares of Tutor Perini Co. (NYSE:TPC)

Public Employees Retirement System of Ohio boosted its position in shares of Tutor Perini Co. (NYSE:TPC - Free Report) by 71.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 76,149 shares of the construction company's stock after purchasing an additional 31,772 shares during the period. Public Employees Retirement System of Ohio owned 0.15% of Tutor Perini worth $2,068,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TPC. Fred Alger Management LLC purchased a new position in shares of Tutor Perini during the 3rd quarter valued at $16,034,000. Hennessy Advisors Inc. purchased a new position in shares of Tutor Perini during the 2nd quarter valued at $12,362,000. Jacobs Levy Equity Management Inc. grew its holdings in shares of Tutor Perini by 129.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 783,396 shares of the construction company's stock valued at $21,277,000 after acquiring an additional 441,858 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Tutor Perini by 59.9% during the 2nd quarter. American Century Companies Inc. now owns 759,665 shares of the construction company's stock valued at $16,546,000 after acquiring an additional 284,627 shares in the last quarter. Finally, Acadian Asset Management LLC grew its holdings in shares of Tutor Perini by 84.4% during the 2nd quarter. Acadian Asset Management LLC now owns 539,336 shares of the construction company's stock valued at $11,742,000 after acquiring an additional 246,901 shares in the last quarter. 65.01% of the stock is currently owned by hedge funds and other institutional investors.

Tutor Perini Price Performance

NYSE TPC traded down $1.83 on Wednesday, reaching $24.57. The company's stock had a trading volume of 558,592 shares, compared to its average volume of 445,249. The firm has a market cap of $1.29 billion, a PE ratio of -9.79 and a beta of 1.49. The business has a 50-day moving average price of $27.65 and a 200 day moving average price of $24.47. Tutor Perini Co. has a 52 week low of $7.83 and a 52 week high of $34.55. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.53.

Tutor Perini (NYSE:TPC - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.17 billion. Tutor Perini had a negative return on equity of 9.56% and a negative net margin of 3.08%. Tutor Perini's quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.71) earnings per share. Sell-side analysts expect that Tutor Perini Co. will post -1.47 EPS for the current year.

Insiders Place Their Bets

In other Tutor Perini news, Director Raymond R. Oneglia sold 100,000 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $28.73, for a total value of $2,873,000.00. Following the sale, the director now directly owns 400,000 shares in the company, valued at approximately $11,492,000. This trade represents a 20.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Ronald N. Tutor sold 50,000 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $30.78, for a total transaction of $1,539,000.00. Following the completion of the sale, the chief executive officer now owns 2,362,267 shares in the company, valued at approximately $72,710,578.26. This trade represents a 2.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 325,000 shares of company stock valued at $9,686,000. 19.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on TPC shares. Vertical Research started coverage on shares of Tutor Perini in a report on Tuesday, December 10th. They set a "buy" rating and a $38.00 price target on the stock. StockNews.com raised shares of Tutor Perini from a "hold" rating to a "buy" rating in a research note on Monday. B. Riley lifted 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. Finally, UBS Group lifted their price objective on shares of Tutor Perini from $27.00 to $39.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd.

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.