Swiss National Bank raised its position in shares of Tutor Perini Corp. (NYSE:TPC) by 2.0% during the second quarter, Holdings Channel reports. The institutional investor owned 65,700 shares of the company’s stock after buying an additional 1,300 shares during the period. Swiss National Bank owned about 0.13% of Tutor Perini Corp. worth $1,547,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in shares of 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 during the period. Envestnet Asset Management Inc. increased its stake in shares of Tutor Perini Corp. by 20.9% in the first quarter. Envestnet Asset Management Inc. now owns 7,977 shares of the company’s stock valued at $124,000 after buying an additional 1,377 shares during the period. American Century Companies Inc. increased its stake in shares of 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 during the period. Springbok Capital Management LLC purchased a new stake in shares of Tutor Perini Corp. during the first quarter valued at $120,000. Finally, Fox Run Management L.L.C. purchased a new stake in shares of Tutor Perini Corp. during the second quarter valued at $217,000. Hedge funds and other institutional investors own 82.48% of the company’s stock.
Shares of Tutor Perini Corp. (NYSE:TPC) traded down 0.85% on Monday, hitting $21.01. 235,067 shares of the company traded hands. Tutor Perini Corp. has a 12 month low of $10.16 and a 12 month high of $25.98. The company has a market capitalization of $1.03 billion, a PE ratio of 16.04 and a beta of 2.46. The stock’s 50-day moving average price is $22.67 and its 200-day moving average price is $20.66.
Tutor Perini Corp. (NYSE:TPC) last announced its earnings results on Tuesday, August 2nd. The company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.51 by $0.08. Tutor Perini Corp. had a return on equity of 5.49% and a net margin of 1.32%. The business had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same period in the previous year, the company earned $0.41 earnings per share. Tutor Perini Corp.’s quarterly revenue was down .3% on a year-over-year basis. On average, equities analysts predict that Tutor Perini Corp. will post $2.04 earnings per share for the current year.
Several equities research analysts have weighed in on TPC shares. MKM Partners upgraded shares of Tutor Perini Corp. from a “neutral” rating to a “buy” rating and raised their target price for the company from $23.00 to $28.00 in a research note on Wednesday, August 24th. Canaccord Genuity reaffirmed a “buy” rating and issued a $18.00 price target on shares of Tutor Perini Corp. in a report on Wednesday, June 29th. 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 price target (up previously from $22.00) on shares of Tutor Perini Corp. in a report on Thursday, June 30th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price 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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