Navellier & Associates Inc. Purchases New Holdings in Tutor Perini Corporation $TPC

Navellier & Associates Inc. acquired a new position in shares of Tutor Perini Corporation (NYSE:TPC) in the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 21,846 shares of the construction company’s stock, valued at approximately $1,433,000.

A number of other hedge funds have also made changes to their positions in the company. Comerica Bank increased its position in shares of Tutor Perini by 30.7% during the first quarter. Comerica Bank now owns 2,423 shares of the construction company’s stock worth $56,000 after purchasing an additional 569 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Tutor Perini by 42.0% in the 1st quarter. AQR Capital Management LLC now owns 183,267 shares of the construction company’s stock valued at $4,248,000 after purchasing an additional 54,204 shares in the last quarter. Millennium Management LLC boosted its stake in Tutor Perini by 165.2% during the 1st quarter. Millennium Management LLC now owns 383,530 shares of the construction company’s stock worth $8,890,000 after purchasing an additional 238,933 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Tutor Perini by 13.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 580,821 shares of the construction company’s stock worth $13,463,000 after purchasing an additional 69,489 shares during the last quarter. Finally, KLP Kapitalforvaltning AS grew its holdings in shares of Tutor Perini by 3.1% during the second quarter. KLP Kapitalforvaltning AS now owns 9,900 shares of the construction company’s stock worth $463,000 after buying an additional 300 shares in the last quarter. Institutional investors and hedge funds own 65.01% of the company’s stock.

Insiders Place Their Bets

In other Tutor Perini news, CEO Gary G. Smalley acquired 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 19th. The stock was purchased at an average cost of $61.08 per share, with a total value of $305,400.00. Following the transaction, the chief executive officer owned 118,075 shares of the company’s stock, valued at $7,212,021. This trade represents a 4.42% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Peter Arkley acquired 15,147 shares of Tutor Perini stock in a transaction that occurred on Tuesday, November 25th. The stock was bought at an average price of $64.39 per share, for a total transaction of $975,315.33. Following the completion of the acquisition, the director owned 191,717 shares in the company, valued at $12,344,657.63. This trade represents a 8.58% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 45,000 shares of company stock worth $2,870,313 in the last 90 days. Company insiders own 17.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TPC. UBS Group raised their price target on shares of Tutor Perini from $67.00 to $86.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Wall Street Zen downgraded shares of Tutor Perini from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 22nd. B. Riley Financial reissued a “buy” rating on shares of Tutor Perini in a research note on Thursday, November 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Tutor Perini in a research report on Wednesday, January 21st. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $80.50.

Tutor Perini Stock Up 2.2%

Shares of NYSE TPC opened at $85.89 on Wednesday. The company has a market capitalization of $4.53 billion, a P/E ratio of -162.05 and a beta of 2.21. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.30 and a quick ratio of 1.30. The company has a 50 day simple moving average of $72.89 and a 200-day simple moving average of $65.43. Tutor Perini Corporation has a 1 year low of $18.33 and a 1 year high of $86.94.

Tutor Perini Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 23rd. Shareholders of record on Tuesday, December 9th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Tuesday, December 9th. This represents a $0.24 annualized dividend and a yield of 0.3%. Tutor Perini’s dividend payout ratio (DPR) is -45.28%.

Tutor Perini Company Profile

Tutor Perini Corporation is a leading U.S. construction company that provides diversified general contracting, construction management and design-build services to private clients and public agencies. The company operates through three principal market segments—Civil, Building and Specialty Contractors—serving a broad range of infrastructure and vertical construction needs.

In its Civil segment, Tutor Perini delivers heavy civil infrastructure projects including highways and bridges, water management, dams, tunnels and rail systems.