M&G PLC Invests $15.66 Million in Tutor Perini Corporation $TPC

M&G PLC purchased a new stake in Tutor Perini Corporation (NYSE:TPC) in the third quarter, HoldingsChannel reports. The firm purchased 237,243 shares of the construction company’s stock, valued at approximately $15,658,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Tutor Perini by 3.7% during the third quarter. Vanguard Group Inc. now owns 2,922,986 shares of the construction company’s stock valued at $191,719,000 after purchasing an additional 103,799 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Tutor Perini by 15.4% during the third quarter. JPMorgan Chase & Co. now owns 406,546 shares of the construction company’s stock worth $26,665,000 after purchasing an additional 54,248 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in shares of Tutor Perini by 3.3% in the 3rd quarter. Advisors Asset Management Inc. now owns 139,952 shares of the construction company’s stock valued at $9,179,000 after buying an additional 4,458 shares during the period. Navellier & Associates Inc. acquired a new position in shares of Tutor Perini in the 3rd quarter valued at $1,433,000. Finally, Plato Investment Management Ltd increased its position in shares of Tutor Perini by 5,803.4% in the 3rd quarter. Plato Investment Management Ltd now owns 6,966 shares of the construction company’s stock valued at $453,000 after buying an additional 6,848 shares in the last quarter. Institutional investors own 65.01% of the company’s stock.

Tutor Perini Stock Up 1.4%

TPC stock opened at $82.88 on Tuesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.30 and a quick ratio of 1.30. The stock has a market capitalization of $4.37 billion, a P/E ratio of -156.37 and a beta of 2.20. Tutor Perini Corporation has a fifty-two week low of $18.33 and a fifty-two week high of $89.40. The business has a 50-day moving average of $74.09 and a 200-day moving average of $66.43.

Insider Buying and Selling

In other Tutor Perini news, CEO Gary G. Smalley acquired 5,000 shares of the business’s stock in a transaction dated Wednesday, November 19th. The shares were acquired at an average price of $61.08 per share, with a total value of $305,400.00. Following the completion of the transaction, the chief executive officer directly owned 118,075 shares in the company, valued at $7,212,021. This trade represents a 4.42% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Peter Arkley bought 24,853 shares of Tutor Perini stock in a transaction that occurred on Monday, November 24th. The shares were acquired at an average price of $63.96 per share, with a total value of $1,589,597.88. Following the acquisition, the director directly owned 176,570 shares of the company’s stock, valued at $11,293,417.20. The trade was a 16.38% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have acquired 45,000 shares of company stock valued at $2,870,313. Insiders own 17.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TPC. UBS Group lifted their target price on Tutor Perini from $67.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. B. Riley Financial reiterated a “buy” rating on shares of Tutor Perini in a report on Thursday, November 6th. Wall Street Zen lowered Tutor Perini from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 22nd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Tutor Perini in a report on Wednesday, January 21st. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $80.50.

About Tutor Perini

Tutor Perini Corporation is a leading U.S. construction company that provides diversified general contracting, construction management and design-build services to private clients and public agencies. The company operates through three principal market segments—Civil, Building and Specialty Contractors—serving a broad range of infrastructure and vertical construction needs.

In its Civil segment, Tutor Perini delivers heavy civil infrastructure projects including highways and bridges, water management, dams, tunnels and rail systems.