Plato Investment Management Ltd Invests $52,000 in Tutor Perini Co. (NYSE:TPC)

Plato Investment Management Ltd bought a new stake in Tutor Perini Co. (NYSE:TPC) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,908 shares of the construction company’s stock, valued at approximately $52,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Donald Smith & CO. Inc. increased its position in shares of Tutor Perini by 3.9% during the first quarter. Donald Smith & CO. Inc. now owns 4,052,678 shares of the construction company’s stock worth $58,602,000 after buying an additional 152,779 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Tutor Perini by 9.0% in 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 in the last quarter. Vanguard Group Inc. lifted its stake in shares of Tutor Perini by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 2,333,269 shares of the construction company’s stock valued at $33,739,000 after purchasing an additional 25,246 shares during the period. American Century Companies Inc. grew its stake in Tutor Perini by 59.9% during the second quarter. American Century Companies Inc. now owns 759,665 shares of the construction company’s stock worth $16,546,000 after purchasing an additional 284,627 shares during the period. Finally, Hennessy Advisors Inc. acquired a new stake in Tutor Perini during the second quarter worth approximately $12,362,000. Institutional investors own 65.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. StockNews.com downgraded shares of Tutor Perini from a “buy” rating to a “hold” rating in a research report on Friday. B. Riley increased their target price on shares of Tutor Perini from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, UBS Group lifted their price target on shares of Tutor Perini from $27.00 to $39.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd.

Insider Buying and Selling at Tutor Perini

In related news, CEO Ronald N. Tutor sold 125,000 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $30.72, for a total transaction of $3,840,000.00. Following the transaction, the chief executive officer now directly owns 3,257,313 shares in the company, valued at approximately $100,064,655.36. The trade was a 3.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 19.50% of the company’s stock.

Tutor Perini Stock Up 0.6 %

Shares of NYSE:TPC opened at $27.73 on Friday. Tutor Perini Co. has a twelve month low of $7.74 and a twelve month high of $34.55. The stock’s 50 day moving average is $26.70 and its 200-day moving average is $23.22. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.53.

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 business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.17 billion. Tutor Perini had a negative return on equity of 9.56% and a negative net margin of 3.08%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.71) EPS. As a group, equities research analysts predict 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.