Dimensional Fund Advisors LP Acquires 198,348 Shares of Tutor Perini Co. (NYSE:TPC)

Dimensional Fund Advisors LP raised its holdings in Tutor Perini Co. (NYSE:TPC) by 9.0% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,399,544 shares of the construction company’s stock after acquiring an additional 198,348 shares during the quarter. Dimensional Fund Advisors LP owned approximately 4.58% of Tutor Perini worth $52,263,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the business. Empowered Funds LLC grew its position in shares of Tutor Perini by 17.3% during the 1st quarter. Empowered Funds LLC now owns 218,925 shares of the construction company’s stock worth $3,166,000 after buying an additional 32,325 shares in the last quarter. Los Angeles Capital Management LLC grew its position in shares of Tutor Perini by 77.8% during the 1st quarter. Los Angeles Capital Management LLC now owns 151,727 shares of the construction company’s stock worth $2,194,000 after buying an additional 66,408 shares in the last quarter. Acadian Asset Management LLC grew its position in shares of Tutor Perini by 152.0% during the 1st quarter. Acadian Asset Management LLC now owns 292,435 shares of the construction company’s stock worth $4,227,000 after buying an additional 176,398 shares in the last quarter. CWM LLC grew its position in shares of Tutor Perini by 142.8% during the 2nd quarter. CWM LLC now owns 1,714 shares of the construction company’s stock worth $37,000 after buying an additional 1,008 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Tutor Perini by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 2,333,269 shares of the construction company’s stock worth $33,739,000 after buying an additional 25,246 shares in the last quarter. Institutional investors own 65.01% of the company’s stock.

Tutor Perini Price Performance

Shares of TPC stock opened at $25.84 on Friday. Tutor Perini Co. has a 1-year low of $6.85 and a 1-year high of $27.05. The stock’s 50-day moving average is $22.84 and its 200 day moving average is $20.00. The company has a market cap of $1.35 billion, a P/E ratio of -12.67 and a beta of 1.51. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.65 and a quick ratio of 1.65.

Tutor Perini (NYSE:TPC) last released its quarterly earnings results on Thursday, August 1st. The construction company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.15). Tutor Perini had a negative net margin of 1.59% and a negative return on equity of 4.49%. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter last year, the business posted ($0.72) earnings per share. The company’s quarterly revenue was up 10.4% compared to the same quarter last year. Research analysts predict that Tutor Perini Co. will post 1.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, UBS Group raised Tutor Perini from a “neutral” rating to a “buy” rating and raised their price objective for the company from $14.00 to $27.00 in a research report on Friday, June 14th.

About Tutor Perini

Tutor Perini Corporation, a construction company, provides diversified general contracting, construction management, and design-build services to private customers and public agencies in the United States and internationally. It operates through three segments: Civil, Building, and Specialty Contractors.