Geode Capital Management LLC Has $27.80 Million Stock Holdings in Tutor Perini Co. (NYSE:TPC)

Geode Capital Management LLC increased its holdings in shares of Tutor Perini Co. (NYSE:TPC) by 3.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,023,198 shares of the construction company’s stock after acquiring an additional 38,458 shares during the period. Geode Capital Management LLC’s holdings in Tutor Perini were worth $27,795,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Fred Alger Management LLC bought a new stake in shares of Tutor Perini in the 3rd quarter valued at approximately $16,034,000. Jacobs Levy Equity Management Inc. boosted its stake in Tutor Perini by 129.4% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 783,396 shares of the construction company’s stock valued at $21,277,000 after buying an additional 441,858 shares in the last quarter. American Century Companies Inc. grew its position in Tutor Perini by 59.9% in the second quarter. American Century Companies Inc. now owns 759,665 shares of the construction company’s stock valued at $16,546,000 after acquiring an additional 284,627 shares during the period. Acadian Asset Management LLC raised its stake in Tutor Perini by 84.4% during the second quarter. Acadian Asset Management LLC now owns 539,336 shares of the construction company’s stock worth $11,742,000 after acquiring an additional 246,901 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Tutor Perini by 9.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,399,544 shares of the construction company’s stock worth $52,263,000 after acquiring an additional 198,348 shares in the last quarter. Institutional investors and hedge funds own 65.01% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on TPC shares. UBS Group upped their target price on shares of Tutor Perini from $27.00 to $39.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Vertical Research started coverage on shares of Tutor Perini in a research note on Tuesday, December 10th. They set a “buy” rating and a $38.00 price objective on the stock. StockNews.com cut shares of Tutor Perini from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, B. Riley increased their price target on Tutor Perini from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th.

Insider Buying and Selling

In other news, Director Raymond R. Oneglia sold 100,000 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $28.73, for a total transaction of $2,873,000.00. Following the completion of the transaction, the director now directly owns 400,000 shares of the company’s stock, valued at $11,492,000. This represents a 20.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ronald N. Tutor sold 50,000 shares of Tutor Perini stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $30.78, for a total value of $1,539,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,362,267 shares in the company, valued at approximately $72,710,578.26. This represents a 2.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 325,000 shares of company stock worth $9,686,000 over the last ninety days. Company insiders own 19.50% of the company’s stock.

Tutor Perini Price Performance

TPC opened at $24.48 on Friday. Tutor Perini Co. has a 12 month low of $7.83 and a 12 month high of $34.55. The company has a fifty day simple moving average of $27.37 and a 200 day simple moving average of $24.61. The stock has a market cap of $1.28 billion, a P/E ratio of -9.75 and a beta of 1.49. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.53.

Tutor Perini (NYSE:TPC) last posted its earnings results on Wednesday, November 6th. The construction company reported ($1.92) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.89) by ($0.03). The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.17 billion. Tutor Perini had a negative return on equity of 9.56% and a negative net margin of 3.08%. Tutor Perini’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.71) earnings per share. On average, research analysts expect that Tutor Perini Co. will post -1.47 EPS for the current year.

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 in the United States and internationally. It operates through three segments: Civil, Building, and Specialty Contractors.