CenterBook Partners LP Makes New Investment in Tutor Perini Corporation $TPC

CenterBook Partners LP acquired a new stake in shares of Tutor Perini Corporation (NYSE:TPC) in the third quarter, Holdings Channel reports. The fund acquired 5,881 shares of the construction company’s stock, valued at approximately $386,000.

Several other institutional investors have also made changes to their positions in TPC. Smartleaf Asset Management LLC raised its holdings in shares of Tutor Perini by 968.2% during the third quarter. Smartleaf Asset Management LLC now owns 470 shares of the construction company’s stock valued at $31,000 after acquiring an additional 426 shares during the period. Comerica Bank grew its position in Tutor Perini by 30.7% during the 1st quarter. Comerica Bank now owns 2,423 shares of the construction company’s stock worth $56,000 after purchasing an additional 569 shares in the last quarter. USA Financial Formulas acquired a new stake in Tutor Perini during the 3rd quarter valued at $90,000. State of Alaska Department of Revenue purchased a new stake in shares of Tutor Perini in the third quarter valued at $192,000. Finally, Principal Financial Group Inc. acquired a new stake in shares of Tutor Perini in the third quarter worth $204,000. 65.01% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Tutor Perini news, Director Peter Arkley purchased 15,147 shares of the company’s stock in a transaction dated Tuesday, November 25th. The shares were bought at an average price of $64.39 per share, for a total transaction of $975,315.33. Following the purchase, the director directly owned 191,717 shares in the company, valued at $12,344,657.63. This trade represents a 8.58% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 17.30% of the stock is owned by corporate insiders.

Tutor Perini Stock Up 2.4%

Shares of Tutor Perini stock opened at $86.91 on Friday. The firm has a market cap of $4.58 billion, a price-to-earnings ratio of -163.97 and a beta of 2.21. The stock has a 50-day simple moving average of $75.32 and a 200-day simple moving average of $67.34. Tutor Perini Corporation has a 52-week low of $18.33 and a 52-week high of $89.40. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.30 and a quick ratio of 1.30.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Wall Street Zen lowered Tutor Perini from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 22nd. B. Riley Financial reaffirmed a “buy” rating on shares of Tutor Perini in a research note on Thursday, November 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Tutor Perini in a research report on Wednesday, January 21st. Finally, UBS Group raised their price target on shares of Tutor Perini from $67.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Tutor Perini currently has a consensus rating of “Hold” and an average price target of $80.50.

Tutor Perini Profile

Tutor Perini Corporation is a leading U.S. construction company that provides diversified general contracting, construction management and design-build services to private clients and public agencies. The company operates through three principal market segments—Civil, Building and Specialty Contractors—serving a broad range of infrastructure and vertical construction needs.

In its Civil segment, Tutor Perini delivers heavy civil infrastructure projects including highways and bridges, water management, dams, tunnels and rail systems.