Martingale Asset Management L P Has $565,000 Stock Position in Tutor Perini Co. (NYSE:TPC)

Martingale Asset Management L P lifted its stake in shares of Tutor Perini Co. (NYSE:TPC) by 21.8% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 20,806 shares of the construction company’s stock after purchasing an additional 3,721 shares during the quarter. Martingale Asset Management L P’s holdings in Tutor Perini were worth $565,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Dimensional Fund Advisors LP grew its holdings in Tutor Perini by 9.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,399,544 shares of the construction company’s stock worth $52,263,000 after acquiring an additional 198,348 shares during the last quarter. Vanguard Group Inc. raised its position in Tutor Perini by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 2,333,269 shares of the construction company’s stock worth $33,739,000 after purchasing an additional 25,246 shares during the last quarter. American Century Companies Inc. lifted its holdings in Tutor Perini by 59.9% during the 2nd quarter. American Century Companies Inc. now owns 759,665 shares of the construction company’s stock worth $16,546,000 after buying an additional 284,627 shares during the period. Hennessy Advisors Inc. bought a new stake in shares of Tutor Perini in the 2nd quarter valued at about $12,362,000. Finally, Brightline Capital Management LLC increased its stake in shares of Tutor Perini by 5.5% in the third quarter. Brightline Capital Management LLC now owns 560,000 shares of the construction company’s stock valued at $15,210,000 after buying an additional 29,000 shares during the period. 65.01% of the stock is currently owned by institutional investors.

Insider Transactions at Tutor Perini

In other news, CEO Ronald N. Tutor sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $30.78, for a total value of $1,539,000.00. Following the transaction, the chief executive officer now owns 2,362,267 shares in the company, valued at $72,710,578.26. The trade was a 2.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Raymond R. Oneglia sold 100,000 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $11,492,000. The trade was a 20.00 % 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 over the last ninety days. 19.50% of the stock is currently owned by insiders.

Tutor Perini Trading Up 0.6 %

Shares of TPC stock opened at $27.32 on Wednesday. The company has a market cap of $1.43 billion, a P/E ratio of -10.88 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. The stock has a 50 day simple moving average of $27.63 and a two-hundred day simple moving average of $24.05. 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 (NYSE:TPC) 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 company had revenue of $1.08 billion during the quarter, compared to the consensus estimate 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 revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.71) EPS. Research analysts forecast that Tutor Perini Co. will post -1.47 earnings per share for the current year.

Analyst Ratings Changes

TPC has been the subject of a number of recent analyst reports. StockNews.com downgraded shares of Tutor Perini from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. 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 report on Wednesday, October 23rd. Finally, B. Riley boosted their target price on shares of Tutor Perini from $38.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, November 7th.

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.