Northern Trust Corp Purchases 38,170 Shares of Tutor Perini Co. (NYSE:TPC)

Northern Trust Corp lifted its stake in Tutor Perini Co. (NYSE:TPC - Free Report) by 9.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 425,798 shares of the construction company's stock after acquiring an additional 38,170 shares during the period. Northern Trust Corp owned approximately 0.81% of Tutor Perini worth $10,304,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Commonwealth Equity Services LLC grew its position in Tutor Perini by 7.3% during the fourth quarter. Commonwealth Equity Services LLC now owns 10,291 shares of the construction company's stock worth $249,000 after buying an additional 700 shares in the last quarter. Sterling Capital Management LLC grew its holdings in shares of Tutor Perini by 7.0% during the fourth quarter. Sterling Capital Management LLC now owns 18,836 shares of the construction company's stock worth $456,000 after purchasing an additional 1,235 shares in the last quarter. Hsbc Holdings PLC increased its position in shares of Tutor Perini by 9.8% in the fourth quarter. Hsbc Holdings PLC now owns 31,031 shares of the construction company's stock worth $743,000 after purchasing an additional 2,759 shares during the last quarter. Brightline Capital Management LLC increased its position in shares of Tutor Perini by 0.5% in the fourth quarter. Brightline Capital Management LLC now owns 563,000 shares of the construction company's stock worth $13,625,000 after purchasing an additional 3,000 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in Tutor Perini by 46.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 14,581 shares of the construction company's stock valued at $353,000 after purchasing an additional 4,649 shares in the last quarter. 65.01% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Tutor Perini news, Director Raymond R. Oneglia sold 75,000 shares of the business's stock in a transaction that occurred 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 in the company, valued at approximately $4,183,478.10. The trade was a 39.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 17.30% of the stock is currently owned by insiders.

Tutor Perini Price Performance

NYSE:TPC traded down $0.75 during mid-day trading on Wednesday, reaching $35.63. The stock had a trading volume of 488,656 shares, compared to its average volume of 546,419. The stock has a market capitalization of $1.88 billion, a P/E ratio of -14.20 and a beta of 1.62. The firm has a 50 day moving average price of $24.70 and a two-hundred day moving average price of $25.23. 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 Co. has a one year low of $14.50 and a one year high of $37.08.

Tutor Perini (NYSE:TPC - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The construction company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.06 by $0.47. Tutor Perini had a negative net margin of 3.08% and a negative return on equity of 9.56%. The firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period last year, the firm posted $0.30 earnings per share. The business's revenue was up 18.8% compared to the same quarter last year.

Wall Street Analyst Weigh In

TPC has been the subject of a number of research reports. B. Riley raised shares of Tutor Perini to a "strong-buy" rating in a research note on Tuesday, March 18th. StockNews.com raised shares of Tutor Perini from a "hold" rating to a "buy" rating in a report on Thursday, May 8th. Finally, UBS Group upped their target price on shares of Tutor Perini from $40.00 to $41.00 and gave the stock a "buy" rating in a research report on Friday, May 9th.

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.