Northern Trust Corp Has $10.30 Million Stock Holdings in Tutor Perini Co. (NYSE:TPC)

Northern Trust Corp grew its position in shares of Tutor Perini Co. (NYSE:TPC) by 9.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 425,798 shares of the construction company’s stock after purchasing an additional 38,170 shares during the quarter. Northern Trust Corp’s holdings in Tutor Perini were worth $10,304,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Barclays PLC increased its holdings in Tutor Perini by 298.0% in the third quarter. Barclays PLC now owns 69,875 shares of the construction company’s stock worth $1,898,000 after purchasing an additional 52,319 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Tutor Perini by 24.6% during the third quarter. Franklin Resources Inc. now owns 79,907 shares of the construction company’s stock valued at $2,130,000 after buying an additional 15,788 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in Tutor Perini by 67.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 93,202 shares of the construction company’s stock worth $2,255,000 after purchasing an additional 37,478 shares during the last quarter. Empowered Funds LLC boosted its position in Tutor Perini by 5.1% in the fourth quarter. Empowered Funds LLC now owns 282,247 shares of the construction company’s stock worth $6,830,000 after purchasing an additional 13,726 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Tutor Perini by 40,975.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 140,477 shares of the construction company’s stock valued at $3,400,000 after buying an additional 140,135 shares during the last quarter. 65.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on TPC shares. B. Riley raised Tutor Perini to a “strong-buy” rating in a research report on Tuesday, March 18th. UBS Group upped their price objective on Tutor Perini from $40.00 to $41.00 and gave the stock a “buy” rating in a report on Friday, May 9th. Finally, StockNews.com upgraded Tutor Perini from a “hold” rating to a “buy” rating in a report on Thursday, May 8th.

Insider Activity at Tutor Perini

In other Tutor Perini news, Director Raymond R. Oneglia sold 75,000 shares of Tutor Perini stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $36.23, for a total value of $2,717,250.00. Following the completion of the sale, the director now owns 115,470 shares of the company’s stock, valued at approximately $4,183,478.10. This trade represents a 39.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 17.30% of the stock is owned by corporate insiders.

Tutor Perini Trading Up 1.1%

NYSE TPC opened at $36.75 on Friday. Tutor Perini Co. has a fifty-two week low of $14.50 and a fifty-two week high of $37.08. The stock has a market cap of $1.94 billion, a P/E ratio of -14.64 and a beta of 1.62. The stock has a 50 day simple moving average of $24.25 and a two-hundred day simple moving average of $25.09. 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 announced its earnings results on Wednesday, May 7th. The construction company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.47. Tutor Perini had a negative return on equity of 9.56% and a negative net margin of 3.08%. The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the prior year, the company earned $0.30 EPS. The business’s revenue was up 18.8% compared to the same quarter last year.

About Tutor Perini

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.