Empowered Funds LLC Has $7.29 Million Stock Position in Tutor Perini Co. (NYSE:TPC)

Empowered Funds LLC grew its holdings in Tutor Perini Co. (NYSE:TPC) by 13.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 268,521 shares of the construction company’s stock after purchasing an additional 32,676 shares during the period. Empowered Funds LLC’s holdings in Tutor Perini were worth $7,293,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in TPC. XTX Topco Ltd bought a new stake in Tutor Perini during the second quarter worth about $746,000. Acadian Asset Management LLC raised its stake in shares of Tutor Perini by 152.0% during the 1st quarter. Acadian Asset Management LLC now owns 292,435 shares of the construction company’s stock worth $4,227,000 after purchasing an additional 176,398 shares in the last quarter. Dark Forest Capital Management LP acquired a new stake in shares of Tutor Perini in the 2nd quarter valued at approximately $482,000. Caxton Associates LP grew its stake in shares of Tutor Perini by 254.0% in the second quarter. Caxton Associates LP now owns 77,466 shares of the construction company’s stock valued at $1,687,000 after buying an additional 55,583 shares in the last quarter. Finally, Texas Capital Bank Wealth Management Services Inc acquired a new position in Tutor Perini during the second quarter worth $503,000. Institutional investors own 65.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TPC. B. Riley lifted their price objective on shares of Tutor Perini from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. StockNews.com cut Tutor Perini from a “buy” rating to a “hold” rating in a report on Friday. Finally, UBS Group upped their price objective on Tutor Perini from $27.00 to $39.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd.

Insider Transactions at Tutor Perini

In related news, CEO Ronald N. Tutor sold 50,000 shares of Tutor Perini stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $30.78, for a total transaction of $1,539,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,362,267 shares of the company’s stock, valued at approximately $72,710,578.26. This trade represents a 2.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 19.50% of the company’s stock.

Tutor Perini Trading Up 0.6 %

Shares of Tutor Perini stock opened at $27.73 on Friday. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.53. The business has a fifty day simple moving average of $26.70 and a two-hundred day simple moving average of $23.26. Tutor Perini Co. has a 1 year low of $7.74 and a 1 year high of $34.55.

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

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.