Mirae Asset Global Investments Co. Ltd. Purchases 477,721 Shares of Tutor Perini Co. (NYSE:TPC)

Mirae Asset Global Investments Co. Ltd. lifted its position in Tutor Perini Co. (NYSE:TPCGet Rating) by 60.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,273,762 shares of the construction company’s stock after acquiring an additional 477,721 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 2.49% of Tutor Perini worth $13,757,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. BNP Paribas Arbitrage SA grew its stake in shares of Tutor Perini by 7.6% in the 1st quarter. BNP Paribas Arbitrage SA now owns 225,872 shares of the construction company’s stock worth $2,439,000 after acquiring an additional 15,948 shares in the last quarter. Advisors Asset Management Inc. grew its position in Tutor Perini by 2.5% during the first quarter. Advisors Asset Management Inc. now owns 195,856 shares of the construction company’s stock valued at $2,115,000 after buying an additional 4,848 shares during the period. Quantbot Technologies LP grew its position in Tutor Perini by 152.4% during the first quarter. Quantbot Technologies LP now owns 16,660 shares of the construction company’s stock valued at $179,000 after buying an additional 10,060 shares during the period. Goldman Sachs Group Inc. grew its position in Tutor Perini by 32.6% during the first quarter. Goldman Sachs Group Inc. now owns 276,089 shares of the construction company’s stock valued at $2,982,000 after buying an additional 67,891 shares during the period. Finally, First Wilshire Securities Management Inc. grew its position in Tutor Perini by 0.3% during the first quarter. First Wilshire Securities Management Inc. now owns 324,357 shares of the construction company’s stock valued at $3,503,000 after buying an additional 1,072 shares during the period. Institutional investors own 66.38% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on TPC. DA Davidson reduced their price target on shares of Tutor Perini to $14.00 in a research report on Monday, August 15th. TheStreet lowered shares of Tutor Perini from a “c-” rating to a “d+” rating in a research report on Monday, July 11th.

Tutor Perini Price Performance

NYSE TPC opened at $6.96 on Tuesday. The company has a market cap of $357.45 million, a PE ratio of -8.92 and a beta of 1.35. Tutor Perini Co. has a 52 week low of $6.29 and a 52 week high of $15.67. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.60. The firm’s 50-day simple moving average is $7.69 and its two-hundred day simple moving average is $9.02.

Tutor Perini Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 1st. Shareholders of record on Monday, July 11th were issued a dividend of $0.2969 per share. This represents a $1.19 annualized dividend and a yield of 17.06%. The ex-dividend date was Friday, July 8th.

Tutor Perini Profile

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Tutor Perini Corporation, a construction company, provides diversified general contracting, construction management, and design-build services to private customers and public agencies worldwide. It operates through three segments: Civil, Building, and Specialty Contractors. The Civil segment engages in the public works construction and the replacement and reconstruction of infrastructure, construction and rehabilitation of highways, bridges, tunnels, mass-transit systems, military defense facilities, and water management and wastewater treatment facilities.

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Institutional Ownership by Quarter for Tutor Perini (NYSE:TPC)

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