EP Wealth Advisors LLC Takes Position in Tutor Perini Co. (NYSE:TPC)

EP Wealth Advisors LLC bought a new stake in shares of Tutor Perini Co. (NYSE:TPC) during the 3rd quarter, according to its most recent filing with the SEC. The fund bought 8,614 shares of the construction company’s stock, valued at approximately $234,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Fred Alger Management LLC acquired a new stake in Tutor Perini during the third quarter valued at approximately $16,034,000. Hennessy Advisors Inc. bought a new stake in Tutor Perini in the second quarter valued at $12,362,000. Jacobs Levy Equity Management Inc. raised its stake in Tutor Perini by 129.4% during the third quarter. Jacobs Levy Equity Management Inc. now owns 783,396 shares of the construction company’s stock worth $21,277,000 after acquiring an additional 441,858 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Tutor Perini by 59.9% during the second 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 during the period. Finally, Acadian Asset Management LLC boosted its stake in shares of Tutor Perini by 84.4% in the 2nd quarter. Acadian Asset Management LLC now owns 539,336 shares of the construction company’s stock valued at $11,742,000 after purchasing an additional 246,901 shares in the last quarter. Institutional investors own 65.01% of the company’s stock.

Insider Transactions at Tutor Perini

In other news, Director Raymond R. Oneglia sold 100,000 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $28.73, for a total value of $2,873,000.00. Following the transaction, the director now directly owns 400,000 shares in the company, valued at $11,492,000. This trade represents a 20.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ronald N. Tutor sold 50,000 shares of the company’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 of the company’s stock, valued at $72,710,578.26. This represents a 2.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 325,000 shares of company stock worth $9,686,000 in the last quarter. 19.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

TPC has been the subject of several analyst reports. 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 for the company. B. Riley boosted their target price on Tutor Perini from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. UBS Group increased their price target on Tutor Perini from $27.00 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, StockNews.com downgraded Tutor Perini from a “buy” rating to a “hold” rating in a research report on Friday, November 15th.

Tutor Perini Price Performance

Shares of TPC stock opened at $26.20 on Friday. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $1.37 billion, a price-to-earnings ratio of -10.44 and a beta of 1.49. The firm’s 50 day moving average is $27.66 and its 200-day moving average is $24.40. Tutor Perini Co. has a 1 year low of $7.83 and a 1 year high of $34.55.

Tutor Perini (NYSE:TPC) last announced its quarterly earnings data on Wednesday, November 6th. The construction company reported ($1.92) EPS for the quarter, missing analysts’ consensus estimates of ($1.89) by ($0.03). The firm 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 firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.71) earnings per share. Sell-side analysts forecast that Tutor Perini Co. will post -1.47 EPS for the current fiscal year.

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.