State Board of Administration of Florida Retirement System Raises Stock Holdings in Tutor Perini Co. (NYSE:TPC)

State Board of Administration of Florida Retirement System boosted its stake in Tutor Perini Co. (NYSE:TPCGet Rating) by 88.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 115,618 shares of the construction company’s stock after buying an additional 54,224 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.23% of Tutor Perini worth $1,015,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of TPC. Mirae Asset Global Investments Co. Ltd. increased its stake in Tutor Perini by 60.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,273,762 shares of the construction company’s stock worth $13,757,000 after purchasing an additional 477,721 shares during the period. BlackRock Inc. increased its stake in Tutor Perini by 7.8% during the first quarter. BlackRock Inc. now owns 4,333,989 shares of the construction company’s stock worth $46,806,000 after purchasing an additional 312,568 shares during the period. State Street Corp increased its stake in Tutor Perini by 35.6% during the first quarter. State Street Corp now owns 1,081,264 shares of the construction company’s stock worth $11,678,000 after purchasing an additional 284,007 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Tutor Perini by 14.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,075,219 shares of the construction company’s stock worth $11,613,000 after purchasing an additional 131,866 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Tutor Perini by 2.7% during the first quarter. Dimensional Fund Advisors LP now owns 2,658,964 shares of the construction company’s stock worth $28,716,000 after purchasing an additional 69,285 shares during the period. 66.38% of the stock is currently owned by hedge funds and other institutional investors.

Tutor Perini Stock Performance

Shares of TPC opened at $7.24 on Friday. The stock has a 50 day moving average price of $6.61 and a 200 day moving average price of $7.97. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $372.75 million, a price-to-earnings ratio of -4.23 and a beta of 1.48. Tutor Perini Co. has a 52-week low of $5.40 and a 52-week high of $14.47.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on TPC shares. StockNews.com started coverage on shares of Tutor Perini in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. DA Davidson cut their target price on shares of Tutor Perini to $14.00 in a research note on Monday, August 15th. Finally, B. Riley upped their target price on shares of Tutor Perini from $9.00 to $10.00 in a research note on Thursday, November 3rd.

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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