Tutor Perini Co. (NYSE:TPC) Shares Purchased by Hennessy Advisors Inc.

Hennessy Advisors Inc. boosted its position in Tutor Perini Co. (NYSE:TPC) by 6.8% in the 4th quarter, Holdings Channel reports. The firm owned 682,981 shares of the construction company’s stock after acquiring an additional 43,600 shares during the quarter. Hennessy Advisors Inc.’s holdings in Tutor Perini were worth $16,528,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TPC. Rhumbline Advisers grew its holdings in shares of Tutor Perini by 3.1% during the second quarter. Rhumbline Advisers now owns 84,385 shares of the construction company’s stock worth $1,838,000 after buying an additional 2,534 shares in the last quarter. American Century Companies Inc. grew its stake in Tutor Perini by 59.9% during the 2nd quarter. American Century Companies Inc. now owns 759,665 shares of the construction company’s stock valued at $16,546,000 after acquiring an additional 284,627 shares in the last quarter. WINTON GROUP Ltd acquired a new stake in Tutor Perini in the 2nd quarter valued at about $235,000. Dimensional Fund Advisors LP lifted its stake in Tutor Perini by 9.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,399,544 shares of the construction company’s stock worth $52,263,000 after purchasing an additional 198,348 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of Tutor Perini by 20.3% during the 2nd quarter. Renaissance Technologies LLC now owns 515,380 shares of the construction company’s stock worth $11,225,000 after purchasing an additional 86,800 shares during the last quarter. Hedge funds and other institutional investors own 65.01% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on TPC. Vertical Research initiated coverage on Tutor Perini in a report on Tuesday, December 10th. They issued a “buy” rating and a $38.00 price target for the company. UBS Group raised their target price on Tutor Perini from $27.00 to $39.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. StockNews.com raised shares of Tutor Perini from a “hold” rating to a “buy” rating in a research report on Friday, January 3rd. Finally, B. Riley raised their price objective on shares of Tutor Perini from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th.

Insider Buying and Selling

In other Tutor Perini news, Director Raymond R. Oneglia sold 100,000 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $28.73, for a total transaction of $2,873,000.00. Following the transaction, the director now directly owns 400,000 shares in the company, valued at $11,492,000. This represents a 20.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ronald N. Tutor sold 125,000 shares of Tutor Perini stock in a transaction on Monday, November 11th. The shares were sold at an average price of $30.72, for a total value of $3,840,000.00. Following the completion of the sale, the chief executive officer now directly owns 3,257,313 shares of the company’s stock, valued at $100,064,655.36. The trade was a 3.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 325,000 shares of company stock valued at $9,686,000. Company insiders own 19.50% of the company’s stock.

Tutor Perini Price Performance

NYSE:TPC opened at $19.62 on Friday. Tutor Perini Co. has a 52 week low of $7.83 and a 52 week high of $34.55. The stock’s fifty day moving average is $26.24 and its two-hundred day moving average is $24.92. The company has a market capitalization of $1.03 billion, a P/E ratio of -7.81 and a beta of 1.54. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.53.

Tutor Perini (NYSE:TPC) last issued its quarterly earnings data on Wednesday, November 6th. The construction company reported ($1.92) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.89) by ($0.03). The company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Tutor Perini had a negative net margin of 3.08% and a negative return on equity of 9.56%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the firm posted ($0.71) earnings per share. Equities analysts expect that Tutor Perini Co. will post -1.47 EPS 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.