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

Empowered Funds LLC boosted its stake in Tutor Perini Co. (NYSE:TPC) by 13.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 268,521 shares of the construction company’s stock after buying an additional 32,676 shares during the quarter. Empowered Funds LLC owned approximately 0.51% of Tutor Perini worth $7,293,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. CWM LLC boosted its stake in shares of Tutor Perini by 142.8% in 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 in the last quarter. Plato Investment Management Ltd acquired a new position in Tutor Perini in the third quarter valued at about $52,000. Allspring Global Investments Holdings LLC bought a new stake in Tutor Perini during the second quarter worth about $51,000. nVerses Capital LLC acquired a new stake in shares of Tutor Perini during the second quarter worth approximately $63,000. Finally, USA Financial Formulas increased its holdings in shares of Tutor Perini by 19.6% during the third quarter. USA Financial Formulas now owns 3,451 shares of the construction company’s stock worth $94,000 after buying an additional 566 shares in the last quarter. 65.01% of the stock is currently owned by institutional investors.

Tutor Perini Trading Up 0.6 %

TPC stock opened at $27.73 on Friday. The company has a 50 day moving average price of $26.70 and a 200 day moving average price of $23.26. Tutor Perini Co. has a fifty-two week low of $7.74 and a fifty-two week high of $34.55. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.55 and a current ratio of 1.55.

Tutor Perini (NYSE:TPC) last released its earnings results on Wednesday, November 6th. The construction company reported ($1.92) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.89) by ($0.03). The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.17 billion. Tutor Perini had a negative return on equity of 9.56% and a negative net margin of 3.08%. The company’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) EPS. Equities research analysts anticipate that Tutor Perini Co. will post -1.47 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Ronald N. Tutor sold 125,000 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $30.72, for a total transaction of $3,840,000.00. Following the sale, the chief executive officer now owns 3,257,313 shares of the company’s stock, valued at approximately $100,064,655.36. This trade represents a 3.70 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 19.50% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.