Tutor Perini Corporation (TPC) Position Lifted by Afam Capital Inc.
Afam Capital Inc. increased its position in Tutor Perini Corporation (NYSE:TPC) by 2.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 168,832 shares of the construction company’s stock after acquiring an additional 3,548 shares during the quarter. Afam Capital Inc. owned about 0.34% of Tutor Perini Corporation worth $4,854,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. The Manufacturers Life Insurance Company raised its holdings in Tutor Perini Corporation by 1.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,820 shares of the construction company’s stock worth $858,000 after acquiring an additional 481 shares during the period. Westside Investment Management Inc. raised its holdings in Tutor Perini Corporation by 10.0% in the 2nd quarter. Westside Investment Management Inc. now owns 45,855 shares of the construction company’s stock worth $1,328,000 after acquiring an additional 4,175 shares during the period. State Street Corp raised its holdings in Tutor Perini Corporation by 4.7% in the 2nd quarter. State Street Corp now owns 750,365 shares of the construction company’s stock worth $21,576,000 after acquiring an additional 33,774 shares during the period. Frontier Wealth Management LLC bought a new position in Tutor Perini Corporation in the 2nd quarter worth $292,000. Finally, Voya Investment Management LLC raised its holdings in Tutor Perini Corporation by 11.3% in the 2nd quarter. Voya Investment Management LLC now owns 17,964 shares of the construction company’s stock worth $516,000 after acquiring an additional 1,824 shares during the period. Hedge funds and other institutional investors own 81.11% of the company’s stock.
Tutor Perini Corporation (TPC) traded down 0.36% on Friday, hitting $27.90. 305,347 shares of the stock traded hands. The firm’s 50 day moving average is $27.31 and its 200 day moving average is $27.81. Tutor Perini Corporation has a 52 week low of $18.05 and a 52 week high of $33.00. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of 13.72 and a beta of 2.45.
Tutor Perini Corporation (NYSE:TPC) last issued its quarterly earnings data on Monday, August 7th. The construction company reported $0.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.02. The company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.42 billion. Tutor Perini Corporation had a net margin of 2.08% and a return on equity of 6.60%. The company’s revenue was down 4.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.43 earnings per share. Equities analysts anticipate that Tutor Perini Corporation will post $2.26 earnings per share for the current year.
Several research analysts recently commented on the stock. Zacks Investment Research downgraded shares of Tutor Perini Corporation from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. BidaskClub downgraded shares of Tutor Perini Corporation from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 1st. Seaport Global Securities downgraded shares of Tutor Perini Corporation from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $40.00 to $31.00 in a report on Wednesday. Canaccord Genuity restated a “buy” rating and set a $35.00 price objective on shares of Tutor Perini Corporation in a report on Saturday, August 26th. Finally, KeyCorp restated a “hold” rating on shares of Tutor Perini Corporation in a report on Friday, August 25th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $32.00.
In other news, CEO Ronald N. Tutor sold 75,000 shares of the stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $26.09, for a total value of $1,956,750.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Ronald N. Tutor sold 3,617 shares of the stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $26.02, for a total transaction of $94,114.34. The disclosure for this sale can be found here. Insiders sold 175,000 shares of company stock worth $4,566,711 over the last three months. Insiders own 24.50% of the company’s stock.
Tutor Perini Corporation Company Profile
Tutor Perini Corporation is a construction company offering general contracting, construction management and design-build services to private customers and public agencies across the world. The Company operates through three segments: Civil, Building and Specialty Contractors. Its Civil segment specializes in public works construction and the repair, replacement and reconstruction of infrastructure across various geographic regions of the United States.
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