ClariVest Asset Management LLC Increases Holdings in Tutor Perini Corporation (TPC)
ClariVest Asset Management LLC raised its position in Tutor Perini Corporation (NYSE:TPC) by 3.5% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 313,045 shares of the construction company’s stock after purchasing an additional 10,500 shares during the period. ClariVest Asset Management LLC owned 0.63% of Tutor Perini Corporation worth $8,891,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the business. Ameriprise Financial Inc. raised its holdings in shares of Tutor Perini Corporation by 86.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 162,956 shares of the construction company’s stock worth $4,682,000 after acquiring an additional 75,407 shares during the period. Bank of America Corp DE raised its holdings in shares of Tutor Perini Corporation by 64.7% during the 1st quarter. Bank of America Corp DE now owns 311,710 shares of the construction company’s stock worth $9,913,000 after acquiring an additional 122,419 shares during the period. Parametrica Management Ltd purchased a new position in shares of Tutor Perini Corporation during the 3rd quarter worth $688,000. First Trust Advisors LP raised its holdings in shares of Tutor Perini Corporation by 3.3% during the 2nd quarter. First Trust Advisors LP now owns 253,480 shares of the construction company’s stock worth $7,288,000 after acquiring an additional 8,011 shares during the period. Finally, TIAA CREF Investment Management LLC increased its position in shares of Tutor Perini Corporation by 8.7% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 146,439 shares of the construction company’s stock worth $4,210,000 after purchasing an additional 11,708 shares during the last quarter. Institutional investors own 81.53% of the company’s stock.
TPC has been the subject of a number of recent analyst reports. BidaskClub downgraded Tutor Perini Corporation from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 1st. Zacks Investment Research downgraded Tutor Perini Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. KeyCorp reissued a “hold” rating on shares of Tutor Perini Corporation in a research report on Friday, August 25th. Canaccord Genuity reissued a “buy” rating and set a $35.00 price objective on shares of Tutor Perini Corporation in a research report on Saturday, August 26th. Finally, Seaport Global Securities downgraded Tutor Perini Corporation from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $40.00 to $31.00 in a research report on Wednesday, October 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $33.63.
In other Tutor Perini Corporation news, CEO Ronald N. Tutor sold 3,617 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $26.02, for a total value of $94,114.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder N. Tutor Separate Prope Ronald sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $26.11, for a total value of $652,750.00. Following the completion of the sale, the insider now owns 5,923,120 shares of the company’s stock, valued at approximately $154,652,663.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 175,000 shares of company stock valued at $4,566,711. 24.50% of the stock is owned by company insiders.
Shares of Tutor Perini Corporation (TPC) traded up $0.10 during trading on Friday, hitting $23.50. The stock had a trading volume of 403,157 shares, compared to its average volume of 350,337. Tutor Perini Corporation has a 1-year low of $22.60 and a 1-year high of $33.00. The firm has a market capitalization of $1,160.00, a P/E ratio of 12.36, a PEG ratio of 1.31 and a beta of 2.39. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.07 and a current ratio of 2.07.
Tutor Perini Corporation (NYSE:TPC) last posted its earnings results on Thursday, November 9th. The construction company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.22). The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Tutor Perini Corporation had a return on equity of 6.16% and a net margin of 2.03%. Tutor Perini Corporation’s revenue for the quarter was down 10.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.57 EPS. analysts forecast that Tutor Perini Corporation will post 1.82 EPS for the current year.
TRADEMARK VIOLATION NOTICE: This article was originally published by Watch List News and is owned by of Watch List News. If you are viewing this article on another domain, it was copied illegally and republished in violation of international trademark & copyright legislation. The original version of this article can be accessed at https://www.watchlistnews.com/clarivest-asset-management-llc-increases-holdings-in-tutor-perini-corporation-tpc/1712066.html.
About Tutor Perini Corporation
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.
Want to see what other hedge funds are holding TPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tutor Perini Corporation (NYSE:TPC).
Receive News & Ratings for Tutor Perini Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tutor Perini Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.