Oppenheimer & Co. Inc. lessened its position in shares of Tutor Perini Corp (NYSE:TPC) by 20.3% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 12,000 shares of the construction company’s stock after selling 3,048 shares during the period. Oppenheimer & Co. Inc.’s holdings in Tutor Perini were worth $172,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in TPC. Kempen Capital Management N.V. lifted its position in Tutor Perini by 39.8% during the 2nd quarter. Kempen Capital Management N.V. now owns 4,640 shares of the construction company’s stock worth $64,000 after acquiring an additional 1,320 shares in the last quarter. Swiss National Bank increased its position in Tutor Perini by 2.2% in the 2nd quarter. Swiss National Bank now owns 74,500 shares of the construction company’s stock worth $1,033,000 after purchasing an additional 1,600 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in Tutor Perini in the 2nd quarter worth about $25,000. Zebra Capital Management LLC increased its position in Tutor Perini by 9.0% in the 2nd quarter. Zebra Capital Management LLC now owns 23,339 shares of the construction company’s stock worth $324,000 after purchasing an additional 1,928 shares during the last quarter. Finally, Covington Capital Management increased its position in Tutor Perini by 23.7% in the 2nd quarter. Covington Capital Management now owns 10,435 shares of the construction company’s stock worth $145,000 after purchasing an additional 2,000 shares during the last quarter. 99.97% of the stock is owned by institutional investors and hedge funds.
Shares of TPC stock traded down $0.33 during mid-day trading on Wednesday, reaching $18.79. The stock had a trading volume of 14,017 shares, compared to its average volume of 464,351. The firm’s 50 day simple moving average is $15.62 and its 200 day simple moving average is $14.18. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.55. Tutor Perini Corp has a one year low of $9.24 and a one year high of $20.52. The firm has a market cap of $928.65 million, a PE ratio of 9.85 and a beta of 1.96.
A number of research analysts have recently commented on the company. B. Riley increased their price objective on Tutor Perini from $18.00 to $23.00 and gave the company a “buy” rating in a report on Thursday, November 7th. DA Davidson reissued a “buy” rating and set a $18.00 price objective on shares of Tutor Perini in a report on Monday, August 12th. ValuEngine raised Tutor Perini from a “strong sell” rating to a “sell” rating in a report on Wednesday, November 6th. TheStreet lowered Tutor Perini from a “c” rating to a “d” rating in a report on Thursday, August 29th. Finally, Zacks Investment Research lowered Tutor Perini from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 14th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $21.67.
Tutor Perini Company Profile
Tutor Perini Corporation, a construction company, provides diversified general contracting, construction management, and design-build services to private customers and public agencies worldwide. The company operates through three segments: Civil, Building, and Specialty Contractors. The Civil segment engages in the public works construction, replacement, and reconstruction of infrastructure, including highways, bridges, tunnels, mass-transit systems, and water management and wastewater treatment facilities.
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