Systematic Financial Management LP Has $8.66 Million Position in Tutor Perini Corporation (TPC)
Systematic Financial Management LP boosted its holdings in Tutor Perini Corporation (NYSE:TPC) by 20.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 301,318 shares of the construction company’s stock after acquiring an additional 51,238 shares during the quarter. Systematic Financial Management LP owned 0.61% of Tutor Perini Corporation worth $8,663,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Ameritas Investment Partners Inc. bought a new stake in Tutor Perini Corporation in the first quarter valued at about $101,000. Envestnet Asset Management Inc. increased its stake in Tutor Perini Corporation by 8.1% in the first quarter. Envestnet Asset Management Inc. now owns 4,516 shares of the construction company’s stock valued at $144,000 after acquiring an additional 340 shares during the period. Pinnacle Associates Ltd. bought a new stake in Tutor Perini Corporation in the first quarter valued at about $205,000. Raymond James Financial Services Advisors Inc. bought a new stake in Tutor Perini Corporation in the first quarter valued at about $218,000. Finally, BNP Paribas Arbitrage SA increased its stake in Tutor Perini Corporation by 239.8% in the second quarter. BNP Paribas Arbitrage SA now owns 8,112 shares of the construction company’s stock valued at $233,000 after acquiring an additional 5,725 shares during the period. 81.11% of the stock is currently owned by institutional investors and hedge funds.
In other Tutor Perini Corporation news, major shareholder N. Tutor Separate Prope Ronald sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $26.11, for a total value of $652,750.00. Following the transaction, the insider now directly owns 5,923,120 shares of the company’s stock, valued at approximately $154,652,663.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 24.50% of the stock is owned by company insiders.
A number of research firms have commented on TPC. Canaccord Genuity restated a “buy” rating on shares of Tutor Perini Corporation in a research report on Friday, June 23rd. BidaskClub upgraded shares of Tutor Perini Corporation from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 27th. Zacks Investment Research upgraded shares of Tutor Perini Corporation from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a research report on Wednesday, July 5th. Finally, KeyCorp restated a “hold” rating on shares of Tutor Perini Corporation in a research report on Friday, August 25th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $31.29.
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Tutor Perini Corporation (NYSE:TPC) opened at 25.95 on Monday. Tutor Perini Corporation has a 52-week low of $18.05 and a 52-week high of $33.00. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of 12.76 and a beta of 2.45. The firm has a 50-day moving average of $26.03 and a 200-day moving average of $28.21.
Tutor Perini Corporation (NYSE:TPC) last released its earnings results on Monday, August 7th. The construction company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.57 by $0.02. Tutor Perini Corporation had a net margin of 2.08% and a return on equity of 6.60%. The firm had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same period last year, the firm earned $0.43 EPS. The business’s quarterly revenue was down 4.7% compared to the same quarter last year. On average, equities research analysts forecast that Tutor Perini Corporation will post $2.26 EPS for the current fiscal year.
About Tutor Perini Corporation
Tutor Perini Corporation is a construction company offering general contracting, construction management and design-build services to private customers and public agencies across the world. The Company operates through three segments: Civil, Building and Specialty Contractors. Its Civil segment specializes in public works construction and the repair, replacement and reconstruction of infrastructure across various geographic regions of the United States.
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