Pinnacle Associates Ltd. Acquires 10,218 Shares of Tutor Perini Co. (NYSE:TPC)

Pinnacle Associates Ltd. increased its holdings in shares of Tutor Perini Co. (NYSE:TPCFree Report) by 3.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 296,235 shares of the construction company’s stock after acquiring an additional 10,218 shares during the quarter. Pinnacle Associates Ltd. owned about 0.57% of Tutor Perini worth $8,046,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of TPC. CWM LLC increased its position in Tutor Perini by 142.8% during the second quarter. CWM LLC now owns 1,714 shares of the construction company’s stock worth $37,000 after acquiring an additional 1,008 shares during the period. Allspring Global Investments Holdings LLC bought a new position in Tutor Perini during the second quarter worth about $51,000. nVerses Capital LLC bought a new position in Tutor Perini during the second quarter worth about $63,000. EntryPoint Capital LLC bought a new position in Tutor Perini during the first quarter worth about $77,000. Finally, Quest Partners LLC grew its stake in Tutor Perini by 537.2% during 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. 65.01% of the stock is owned by institutional investors.

Tutor Perini Trading Down 0.2 %

Shares of Tutor Perini stock opened at $26.54 on Thursday. The company has a market capitalization of $1.39 billion, a price-to-earnings ratio of -13.01 and a beta of 1.50. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 0.50. Tutor Perini Co. has a 12-month low of $6.86 and a 12-month high of $30.99. The firm’s 50-day moving average price is $25.30 and its two-hundred day moving average price is $22.09.

Tutor Perini (NYSE:TPCGet Free Report) last posted its quarterly earnings results on Thursday, August 1st. The construction company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.15). Tutor Perini had a negative net margin of 1.59% and a negative return on equity of 4.49%. The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the previous year, the business posted ($0.72) earnings per share. The company’s revenue for the quarter was up 10.4% on a year-over-year basis. On average, analysts forecast that Tutor Perini Co. will post 1.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

TPC has been the topic of a number of analyst reports. UBS Group increased their price objective on shares of Tutor Perini from $27.00 to $39.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. StockNews.com downgraded shares of Tutor Perini from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th.

View Our Latest Analysis on Tutor Perini

Tutor Perini Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Tutor Perini (NYSE:TPC)

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