First Trust Advisors LP Raises Stake in Tutor Perini Co. (NYSE:TPC)

First Trust Advisors LP increased its holdings in Tutor Perini Co. (NYSE:TPC) by 74.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 938,478 shares of the construction company’s stock after buying an additional 401,117 shares during the quarter. First Trust Advisors LP owned about 1.79% of Tutor Perini worth $22,711,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of TPC. Barclays PLC increased its stake in shares of Tutor Perini by 13.7% in the fourth quarter. Barclays PLC now owns 79,480 shares of the construction company’s stock worth $1,923,000 after acquiring an additional 9,605 shares during the period. Optimize Financial Inc acquired a new stake in Tutor Perini during the 4th quarter worth about $221,000. Brightline Capital Management LLC raised its stake in shares of Tutor Perini by 0.5% during the 4th quarter. Brightline Capital Management LLC now owns 563,000 shares of the construction company’s stock valued at $13,625,000 after buying an additional 3,000 shares during the last quarter. Sterling Capital Management LLC lifted its holdings in shares of Tutor Perini by 7.0% in the 4th quarter. Sterling Capital Management LLC now owns 18,836 shares of the construction company’s stock valued at $456,000 after buying an additional 1,235 shares during the period. Finally, Martingale Asset Management L P boosted its stake in shares of Tutor Perini by 55.4% in the fourth quarter. Martingale Asset Management L P now owns 32,327 shares of the construction company’s stock worth $782,000 after buying an additional 11,521 shares during the last quarter. 65.01% of the stock is owned by hedge funds and other institutional investors.

Tutor Perini Stock Up 3.1 %

Shares of TPC opened at $21.90 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 cap of $1.15 billion, a P/E ratio of -8.73 and a beta of 1.47. The stock’s 50 day moving average is $23.19 and its two-hundred day moving average is $25.04. Tutor Perini Co. has a 12 month low of $14.50 and a 12 month high of $34.55.

Tutor Perini (NYSE:TPC) last released its quarterly earnings results on Thursday, February 27th. The construction company reported ($1.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($1.80). The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.08 billion. Tutor Perini had a negative net margin of 3.08% and a negative return on equity of 9.56%. During the same period in the prior year, the business posted ($0.91) EPS.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on TPC shares. StockNews.com downgraded Tutor Perini from a “buy” rating to a “hold” rating in a report on Tuesday, January 28th. B. Riley upgraded shares of Tutor Perini to a “strong-buy” rating in a research note on Tuesday, March 18th.

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.