Foundry Partners LLC Buys 33,440 Shares of Tutor Perini Co. (NYSE:TPC)

Foundry Partners LLC raised its stake in shares of Tutor Perini Co. (NYSE:TPC) by 18.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 216,915 shares of the construction company’s stock after purchasing an additional 33,440 shares during the quarter. Foundry Partners LLC owned 0.41% of Tutor Perini worth $5,891,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. CWM LLC increased its position in Tutor Perini by 142.8% during the 2nd quarter. CWM LLC now owns 1,714 shares of the construction company’s stock valued at $37,000 after purchasing an additional 1,008 shares during the period. Plato Investment Management Ltd purchased a new position in shares of Tutor Perini in the third quarter worth approximately $52,000. Allspring Global Investments Holdings LLC bought a new stake in Tutor Perini during the 2nd quarter worth approximately $51,000. nVerses Capital LLC bought a new stake in Tutor Perini during the 2nd quarter worth approximately $63,000. Finally, USA Financial Formulas raised its stake in Tutor Perini by 19.6% during the 3rd quarter. USA Financial Formulas now owns 3,451 shares of the construction company’s stock worth $94,000 after acquiring an additional 566 shares during the period. 65.01% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Ronald N. Tutor sold 125,000 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $30.72, for a total transaction of $3,840,000.00. Following the transaction, the chief executive officer now owns 3,257,313 shares in the company, valued at $100,064,655.36. This represents a 3.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 19.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

TPC has been the topic of several recent analyst reports. StockNews.com cut shares of Tutor Perini from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. UBS Group boosted their price target on shares of Tutor Perini from $27.00 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, B. Riley boosted their price target 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.

Tutor Perini Stock Down 0.2 %

Shares of TPC opened at $28.77 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.55 and a quick ratio of 1.55. The firm has a fifty day moving average price of $27.23 and a 200-day moving average price of $23.55. Tutor Perini Co. has a 12-month low of $7.83 and a 12-month high of $34.55.

Tutor Perini (NYSE:TPC) last released its quarterly earnings data on Wednesday, November 6th. The construction company reported ($1.92) earnings per share for the quarter, missing the consensus estimate of ($1.89) by ($0.03). The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.17 billion. Tutor Perini had a negative net margin of 3.08% and a negative return on equity of 9.56%. The business’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.71) earnings per share. On average, 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.