Ameriprise Financial Inc. Has $6,663,000 Stake in Tutor Perini Corp. (TPC)
Ameriprise Financial Inc. boosted its stake in Tutor Perini Corp. (NYSE:TPC) by 4.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 282,949 shares of the company’s stock after buying an additional 11,837 shares during the period. Ameriprise Financial Inc. owned approximately 0.58% of Tutor Perini Corp. worth $6,663,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. DIAM Co. Ltd. boosted its position in Tutor Perini Corp. by 0.9% in the second quarter. DIAM Co. Ltd. now owns 57,312 shares of the company’s stock valued at $1,338,000 after buying an additional 512 shares in the last quarter. BlackRock Inc. boosted its position in Tutor Perini Corp. by 9.0% in the first quarter. BlackRock Inc. now owns 12,899 shares of the company’s stock valued at $200,000 after buying an additional 1,064 shares in the last quarter. Swiss National Bank boosted its position in Tutor Perini Corp. by 2.0% in the second quarter. Swiss National Bank now owns 65,700 shares of the company’s stock valued at $1,547,000 after buying an additional 1,300 shares in the last quarter. American Century Companies Inc. boosted its position in Tutor Perini Corp. by 5.1% in the second quarter. American Century Companies Inc. now owns 81,841 shares of the company’s stock valued at $1,927,000 after buying an additional 3,947 shares in the last quarter. Finally, Springbok Capital Management LLC purchased a new position in Tutor Perini Corp. during the first quarter valued at about $120,000. 82.48% of the stock is owned by hedge funds and other institutional investors.
Shares of Tutor Perini Corp. (NYSE:TPC) traded up 1.61% on Monday, hitting $21.50. 190,169 shares of the stock were exchanged. The firm’s 50-day moving average is $22.03 and its 200-day moving average is $21.10. The company has a market cap of $1.06 billion, a P/E ratio of 16.41 and a beta of 2.48. Tutor Perini Corp. has a one year low of $10.16 and a one year high of $25.98.
Tutor Perini Corp. (NYSE:TPC) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.43 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by $0.08. Tutor Perini Corp. had a net margin of 1.32% and a return on equity of 5.49%. The business earned $1.31 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same period last year, the firm posted $0.41 earnings per share. The company’s quarterly revenue was down .3% on a year-over-year basis. On average, equities analysts forecast that Tutor Perini Corp. will post $2.04 EPS for the current fiscal year.
Several research analysts recently issued reports on the stock. MKM Partners set a $28.00 price target on shares of Tutor Perini Corp. and gave the stock a “buy” rating in a report on Friday. Canaccord Genuity reaffirmed a “buy” rating on shares of Tutor Perini Corp. in a report on Sunday, July 17th. TheStreet cut shares of Tutor Perini Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, August 3rd. Zacks Investment Research cut shares of Tutor Perini Corp. from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 6th. Finally, FBR & Co reaffirmed an “outperform” rating and issued a $26.00 target price (up from $22.00) on shares of Tutor Perini Corp. in a report on Thursday, June 30th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Tutor Perini Corp. presently has a consensus rating of “Buy” and an average price target of $24.29.
About Tutor Perini Corp.
Tutor Perini Corporation, formerly Perini Corporation, is a construction company offering general contracting, construction management and design-build services to private customers and public agencies. The Company operates through three segments. The Civil segment specializes in public works construction and the repair, replacement and reconstruction of infrastructure.
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