State Street Corp Has $26.48 Million Position in Tutor Perini Co. (NYSE:TPC)

State Street Corp boosted its position in Tutor Perini Co. (NYSE:TPC - Free Report) by 2.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 975,082 shares of the construction company's stock after purchasing an additional 19,518 shares during the quarter. State Street Corp owned about 1.86% of Tutor Perini worth $26,483,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new stake in shares of Tutor Perini in the second quarter valued at about $51,000. Plato Investment Management Ltd bought a new stake in Tutor Perini in the 3rd quarter valued at about $52,000. nVerses Capital LLC acquired a new position in shares of Tutor Perini during the 2nd quarter worth approximately $63,000. CWM LLC increased its holdings in shares of Tutor Perini by 53.0% during the third quarter. CWM LLC now owns 2,622 shares of the construction company's stock worth $71,000 after purchasing an additional 908 shares during the period. Finally, Quest Partners LLC raised its position in shares of Tutor Perini by 537.2% in the second quarter. Quest Partners LLC now owns 4,148 shares of the construction company's stock valued at $90,000 after buying an additional 3,497 shares in the last quarter. 65.01% of the stock is owned by institutional investors and hedge funds.

Tutor Perini Price Performance

Shares of TPC stock traded down $0.62 during trading hours on Monday, reaching $25.03. The company's stock had a trading volume of 253,807 shares, compared to its average volume of 447,715. Tutor Perini Co. has a fifty-two week low of $7.83 and a fifty-two week high of $34.55. The firm's 50 day simple moving average is $27.59 and its 200-day simple moving average is $24.55. 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 company has a market capitalization of $1.31 billion, a price-to-earnings ratio of -9.97 and a beta of 1.49.

Tutor Perini (NYSE:TPC - Get Free Report) last released 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 business 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 business's quarterly revenue was up 2.1% compared to the same quarter last year. During the same period last year, the business earned ($0.71) earnings per share. Sell-side analysts forecast that Tutor Perini Co. will post -1.47 earnings per share for the current year.

Insider Activity at Tutor Perini

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

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. B. Riley increased their price target on Tutor Perini from $38.00 to $40.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. UBS Group increased their target price on Tutor Perini from $27.00 to $39.00 and gave the stock 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 note on Monday, December 16th. Finally, Vertical Research began coverage on shares of Tutor Perini in a research note on Tuesday, December 10th. They set a "buy" rating and a $38.00 price objective on the stock.

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.