Assenagon Asset Management S.A. Buys 37,478 Shares of Tutor Perini Co. (NYSE:TPC)

Assenagon Asset Management S.A. lifted its position in Tutor Perini Co. (NYSE:TPC) by 67.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,202 shares of the construction company’s stock after acquiring an additional 37,478 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Tutor Perini were worth $2,255,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. USA Financial Formulas increased its stake in Tutor Perini by 19.6% in the 3rd quarter. USA Financial Formulas now owns 3,451 shares of the construction company’s stock valued at $94,000 after buying an additional 566 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Tutor Perini by 3.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,874 shares of the construction company’s stock worth $368,000 after buying an additional 571 shares during the last quarter. CWM LLC grew its holdings in shares of Tutor Perini by 53.0% in the third quarter. CWM LLC now owns 2,622 shares of the construction company’s stock valued at $71,000 after acquiring an additional 908 shares in the last quarter. Plato Investment Management Ltd purchased a new stake in shares of Tutor Perini during the third quarter valued at approximately $52,000. Finally, FMR LLC lifted its holdings in Tutor Perini by 103.1% during the third quarter. FMR LLC now owns 4,725 shares of the construction company’s stock worth $128,000 after acquiring an additional 2,399 shares during the period. Hedge funds and other institutional investors own 65.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on TPC shares. Vertical Research assumed coverage on Tutor Perini in a research note on Tuesday, December 10th. They issued a “buy” rating and a $38.00 price objective for the company. B. Riley increased their price objective on Tutor Perini from $38.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, November 7th. StockNews.com upgraded shares of Tutor Perini from a “hold” rating to a “buy” rating in a research report on Friday, January 3rd. Finally, UBS Group lifted their price target on Tutor Perini from $27.00 to $39.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd.

Tutor Perini Trading Down 0.9 %

Tutor Perini stock opened at $27.16 on Thursday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.55 and a current ratio of 1.55. Tutor Perini Co. has a fifty-two week low of $8.34 and a fifty-two week high of $34.55. The stock has a market cap of $1.42 billion, a P/E ratio of -10.82 and a beta of 1.54. The firm’s fifty day moving average price is $25.98 and its 200-day moving average price is $25.08.

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

Insider Buying and Selling at Tutor Perini

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

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.