D.A. Davidson & CO. raised its position in Tutor Perini Corp (NYSE:TPC) by 106.6% during the fourth quarter, HoldingsChannel reports. The firm owned 107,603 shares of the construction company’s stock after buying an additional 55,520 shares during the quarter. D.A. Davidson & CO.’s holdings in Tutor Perini were worth $2,728,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. First Trust Advisors LP grew its stake in Tutor Perini by 9.7% in the fourth quarter. First Trust Advisors LP now owns 277,131 shares of the construction company’s stock valued at $7,025,000 after purchasing an additional 24,504 shares in the last quarter. Balter Liquid Alternatives LLC purchased a new position in Tutor Perini in the fourth quarter valued at about $411,000. Swiss National Bank grew its stake in Tutor Perini by 8.2% in the fourth quarter. Swiss National Bank now owns 70,200 shares of the construction company’s stock valued at $1,780,000 after purchasing an additional 5,300 shares in the last quarter. California Public Employees Retirement System grew its stake in Tutor Perini by 17.7% in the fourth quarter. California Public Employees Retirement System now owns 101,674 shares of the construction company’s stock valued at $2,577,000 after purchasing an additional 15,313 shares in the last quarter. Finally, Teacher Retirement System of Texas purchased a new position in Tutor Perini in the fourth quarter valued at about $341,000. Hedge funds and other institutional investors own 84.85% of the company’s stock.
In related news, major shareholder N. Tutor Separate Prope Ronald sold 25,000 shares of the stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $25.60, for a total transaction of $640,000.00. Following the completion of the sale, the insider now owns 5,798,120 shares in the company, valued at approximately $148,431,872. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Dale Ann Reiss sold 4,829 shares of the stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $27.28, for a total value of $131,735.12. Following the sale, the director now owns 20,625 shares of the company’s stock, valued at approximately $562,650. The disclosure for this sale can be found here. In the last quarter, insiders have sold 54,829 shares of company stock valued at $1,400,985. 24.50% of the stock is currently owned by corporate insiders.
A number of research analysts have commented on the company. B. Riley restated a “buy” rating on shares of Tutor Perini in a research note on Wednesday, November 1st. Zacks Investment Research upgraded Tutor Perini from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research note on Wednesday, February 14th. ValuEngine downgraded Tutor Perini from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Canaccord Genuity decreased their price target on Tutor Perini from $35.00 to $32.00 and set a “buy” rating for the company in a research note on Friday, November 10th. Finally, decreased their price target on Tutor Perini from $37.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, November 15th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $31.40.
Shares of Tutor Perini Corp (NYSE TPC) opened at $22.55 on Monday. The stock has a market capitalization of $1,122.56, a PE ratio of 11.68, a PEG ratio of 0.84 and a beta of 2.13. Tutor Perini Corp has a 52 week low of $21.15 and a 52 week high of $32.70. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.07 and a current ratio of 2.07.
TRADEMARK VIOLATION NOTICE: This article was first reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this article on another domain, it was copied illegally and reposted in violation of U.S. & international trademark and copyright laws. The correct version of this article can be read at https://ledgergazette.com/2018/02/19/d-a-davidson-co-purchases-55520-shares-of-tutor-perini-corp-tpc.html.
Tutor Perini Company Profile
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.
Want to see what other hedge funds are holding TPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tutor Perini Corp (NYSE:TPC).
Receive News & Ratings for Tutor Perini Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tutor Perini and related companies with MarketBeat.com's FREE daily email newsletter.