Geode Capital Management LLC Grows Position in Tutor Perini Co. (NYSE:TPC)

Geode Capital Management LLC grew its holdings in Tutor Perini Co. (NYSE:TPC - Free Report) by 3.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,023,198 shares of the construction company's stock after purchasing an additional 38,458 shares during the period. Geode Capital Management LLC owned approximately 1.95% of Tutor Perini worth $27,795,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of TPC. Barclays PLC grew its holdings in shares of 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 purchasing an additional 52,319 shares during the last quarter. Public Employees Retirement System of Ohio grew its stake in shares of Tutor Perini by 71.6% during the third quarter. Public Employees Retirement System of Ohio now owns 76,149 shares of the construction company's stock worth $2,068,000 after buying an additional 31,772 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Tutor Perini during the third quarter worth $201,000. EP Wealth Advisors LLC acquired a new position in shares of Tutor Perini during the third quarter worth $234,000. Finally, State Street Corp lifted its stake in shares of Tutor Perini by 2.0% in the 3rd quarter. State Street Corp now owns 975,082 shares of the construction company's stock valued at $26,483,000 after acquiring an additional 19,518 shares during the last quarter. Institutional investors and hedge funds own 65.01% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TPC. B. Riley lifted their price target 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. UBS Group lifted 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 cut Tutor Perini from a "buy" rating to a "hold" rating in a research note on Wednesday. Finally, Vertical Research assumed coverage on Tutor Perini in a research note on Tuesday, December 10th. They issued a "buy" rating and a $38.00 price objective on the stock.

Insider Activity

In other news, Director Raymond R. Oneglia sold 100,000 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $28.73, for a total transaction of $2,873,000.00. Following the completion of the transaction, the director now owns 400,000 shares in the company, valued at approximately $11,492,000. This represents a 20.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ronald N. Tutor sold 50,000 shares of the business's stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $30.78, for a total value 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 $72,710,578.26. This represents a 2.07 % decrease in their ownership of the stock. 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 ninety days. 19.50% of the stock is currently owned by insiders.

Tutor Perini Stock Down 2.8 %

TPC stock traded down $0.68 during mid-day trading on Friday, reaching $23.80. 301,287 shares of the company traded hands, compared to its average volume of 445,654. 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's 50 day moving average price is $27.30 and its 200 day moving average price is $24.64. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of -9.48 and a beta of 1.49. Tutor Perini Co. has a fifty-two week low of $7.83 and a fifty-two week high of $34.55.

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). 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 the consensus estimate of $1.17 billion. During the same quarter last year, the business posted ($0.71) earnings per share. Tutor Perini's revenue was up 2.1% on a year-over-year basis. As a group, equities research analysts predict that Tutor Perini Co. will post -1.47 EPS for the current fiscal 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.