21,846 Shares in Tutor Perini Corporation $TPC Acquired by Navellier & Associates Inc.

Navellier & Associates Inc. purchased a new position in shares of Tutor Perini Corporation (NYSE:TPC) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 21,846 shares of the construction company’s stock, valued at approximately $1,433,000.

Other institutional investors have also recently made changes to their positions in the company. First Trust Advisors LP increased its stake in Tutor Perini by 4,166.1% during the 2nd quarter. First Trust Advisors LP now owns 1,153,214 shares of the construction company’s stock valued at $53,947,000 after purchasing an additional 1,126,182 shares in the last quarter. Prudential Financial Inc. grew its holdings in shares of Tutor Perini by 438.4% during the second quarter. Prudential Financial Inc. now owns 610,720 shares of the construction company’s stock valued at $28,569,000 after buying an additional 497,296 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Tutor Perini by 209.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 720,405 shares of the construction company’s stock valued at $47,251,000 after acquiring an additional 487,529 shares during the period. Millennium Management LLC raised its stake in Tutor Perini by 165.2% in the 1st quarter. Millennium Management LLC now owns 383,530 shares of the construction company’s stock worth $8,890,000 after acquiring an additional 238,933 shares during the last quarter. Finally, Cubist Systematic Strategies LLC raised its stake in Tutor Perini by 397.2% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 292,077 shares of the construction company’s stock worth $13,663,000 after acquiring an additional 233,335 shares during the last quarter. Institutional investors and hedge funds own 65.01% of the company’s stock.

Insider Buying and Selling

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

Tutor Perini Trading Up 2.2%

Shares of Tutor Perini stock opened at $85.89 on Wednesday. The firm has a 50-day simple moving average of $72.89 and a two-hundred day simple moving average of $65.43. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.30 and a current ratio of 1.30. Tutor Perini Corporation has a fifty-two week low of $18.33 and a fifty-two week high of $86.94. The company has a market cap of $4.53 billion, a P/E ratio of -162.05 and a beta of 2.21.

Tutor Perini Announces Dividend

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

Wall Street Analysts Forecast Growth

TPC has been the topic of a number of research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Tutor Perini in a report on Wednesday, January 21st. B. Riley Financial reiterated a “buy” rating on shares of Tutor Perini in a report on Thursday, November 6th. Wall Street Zen cut shares of Tutor Perini from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 22nd. Finally, UBS Group upped their price objective on shares of Tutor Perini from $67.00 to $86.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $80.50.

About Tutor Perini

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.