Public Employees Retirement System of Ohio Purchases 31,772 Shares of Tutor Perini Co. (NYSE:TPC)

Public Employees Retirement System of Ohio boosted its position in shares of Tutor Perini Co. (NYSE:TPC) by 71.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 76,149 shares of the construction company’s stock after acquiring an additional 31,772 shares during the period. Public Employees Retirement System of Ohio owned 0.15% of Tutor Perini worth $2,068,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. 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 valued at $37,000 after purchasing an additional 1,008 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Tutor Perini during the second quarter worth about $51,000. Plato Investment Management Ltd bought a new position in Tutor Perini in the 3rd quarter worth about $52,000. nVerses Capital LLC purchased a new stake in shares of Tutor Perini in the 2nd quarter valued at about $63,000. Finally, Quest Partners LLC boosted its position in shares of Tutor Perini by 537.2% during the 2nd quarter. Quest Partners LLC now owns 4,148 shares of the construction company’s stock valued at $90,000 after acquiring an additional 3,497 shares during the last quarter. Institutional investors own 65.01% of the company’s stock.

Analysts Set New Price Targets

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

Tutor Perini Trading Down 0.3 %

Shares of TPC opened at $26.40 on Wednesday. Tutor Perini Co. has a fifty-two week low of $7.83 and a fifty-two week high of $34.55. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of -10.52 and a beta of 1.49. The firm has a 50 day moving average price of $27.65 and a 200-day moving average price of $24.47. 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 (NYSE:TPC) last posted its quarterly earnings results on Wednesday, November 6th. The construction company reported ($1.92) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.89) by ($0.03). The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Tutor Perini had a negative net margin of 3.08% and a negative return on equity of 9.56%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.71) earnings per share. As a group, equities research analysts forecast that Tutor Perini Co. will post -1.47 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Ronald N. Tutor sold 125,000 shares of Tutor Perini stock in a transaction on Monday, November 11th. The shares were sold at an average price of $30.72, for a total value of $3,840,000.00. Following the sale, the chief executive officer now owns 3,257,313 shares in the company, valued at $100,064,655.36. The trade was a 3.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Raymond R. Oneglia sold 100,000 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $28.73, for a total transaction of $2,873,000.00. Following the transaction, the director now directly owns 400,000 shares in the company, valued at approximately $11,492,000. The trade was a 20.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 325,000 shares of company stock valued at $9,686,000 in the last quarter. Insiders own 19.50% of the company’s stock.

Tutor Perini 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.