DDD Partners LLC Acquires 5,190 Shares of Tutor Perini Corp (TPC)
DDD Partners LLC raised its position in Tutor Perini Corp (NYSE:TPC) by 1.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 497,015 shares of the construction company’s stock after acquiring an additional 5,190 shares during the period. Tutor Perini makes up 3.3% of DDD Partners LLC’s investment portfolio, making the stock its 12th largest holding. DDD Partners LLC owned 0.99% of Tutor Perini worth $9,344,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in TPC. Xact Kapitalforvaltning AB acquired a new stake in shares of Tutor Perini in the 1st quarter worth $210,000. Nomura Holdings Inc. acquired a new stake in shares of Tutor Perini in the 2nd quarter worth $298,000. Foundry Partners LLC lifted its stake in shares of Tutor Perini by 34.1% in the 3rd quarter. Foundry Partners LLC now owns 16,355 shares of the construction company’s stock worth $307,000 after acquiring an additional 4,155 shares during the period. OppenheimerFunds Inc. lifted its stake in shares of Tutor Perini by 25.2% in the 2nd quarter. OppenheimerFunds Inc. now owns 18,761 shares of the construction company’s stock worth $346,000 after acquiring an additional 3,781 shares during the period. Finally, Brown Advisory Inc. acquired a new stake in shares of Tutor Perini in the 2nd quarter worth $359,000. Institutional investors own 86.44% of the company’s stock.
Shares of NYSE TPC opened at $17.05 on Wednesday. The company has a quick ratio of 1.94, a current ratio of 1.94 and a debt-to-equity ratio of 0.45. Tutor Perini Corp has a 52 week low of $14.92 and a 52 week high of $28.30. The stock has a market capitalization of $878.46 million, a P/E ratio of 11.84, a P/E/G ratio of 1.11 and a beta of 2.08.
In related news, CEO Ronald N. Tutor sold 27,375 shares of the firm’s stock in a transaction dated Thursday, August 23rd. The shares were sold at an average price of $20.24, for a total value of $554,070.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder N. Tutor Separate Prope Ronald sold 12,618 shares of the firm’s stock in a transaction dated Wednesday, August 22nd. The shares were sold at an average price of $20.32, for a total transaction of $256,397.76. Following the completion of the sale, the insider now owns 5,698,983 shares of the company’s stock, valued at approximately $115,803,334.56. The disclosure for this sale can be found here. Insiders sold 117,574 shares of company stock valued at $2,367,300 in the last quarter. Company insiders own 24.70% of the company’s stock.
TPC has been the subject of several recent analyst reports. Zacks Investment Research cut shares of Tutor Perini from a “hold” rating to a “sell” rating in a research note on Friday, October 26th. ValuEngine upgraded shares of Tutor Perini from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 2nd. UBS Group set a $24.00 price objective on shares of Tutor Perini and gave the company a “buy” rating in a research note on Thursday, November 8th. B. Riley reduced their price objective on shares of Tutor Perini from $26.00 to $24.00 and set a “buy” rating for the company in a research note on Thursday, November 8th. Finally, MKM Partners set a $28.00 price objective on shares of Tutor Perini and gave the company a “buy” rating in a research note on Friday, September 28th. Two investment analysts have rated the stock with a sell rating and eight have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $28.50.
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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 worldwide. The company operates through three segments: Civil, Building, and Specialty Contractors. The Civil segment engages in the public works construction, replacement, and reconstruction of infrastructure, including highways, bridges, tunnels, mass-transit systems, and water management and wastewater treatment facilities.
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