Ameriprise Financial Inc. Has $5.13 Million Stock Position in Tutor Perini Co. (NYSE:TPC)

Ameriprise Financial Inc. lifted its position in shares of Tutor Perini Co. (NYSE:TPC - Free Report) by 8.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 211,843 shares of the construction company's stock after acquiring an additional 17,217 shares during the period. Ameriprise Financial Inc. owned 0.40% of Tutor Perini worth $5,127,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Commonwealth Equity Services LLC raised its stake in Tutor Perini by 7.3% during the 4th quarter. Commonwealth Equity Services LLC now owns 10,291 shares of the construction company's stock valued at $249,000 after acquiring an additional 700 shares in the last quarter. Sterling Capital Management LLC increased 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 valued at $456,000 after purchasing an additional 1,235 shares during the period. Hsbc Holdings PLC raised its stake in shares of Tutor Perini by 9.8% during the fourth quarter. Hsbc Holdings PLC now owns 31,031 shares of the construction company's stock valued at $743,000 after purchasing an additional 2,759 shares in the last quarter. Brightline Capital Management LLC raised its stake in shares of Tutor Perini by 0.5% during the fourth quarter. Brightline Capital Management LLC now owns 563,000 shares of the construction company's stock valued at $13,625,000 after purchasing an additional 3,000 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings 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 worth $353,000 after purchasing an additional 4,649 shares during the period. Institutional investors and hedge funds own 65.01% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on TPC shares. B. Riley raised shares of Tutor Perini to a "strong-buy" rating in a research note on Tuesday, March 18th. UBS Group increased their price objective on shares of Tutor Perini from $40.00 to $41.00 and gave the company a "buy" rating in a report on Friday, May 9th. Finally, Wall Street Zen raised Tutor Perini from a "hold" rating to a "buy" rating in a report on Thursday, May 8th.

Tutor Perini Price Performance

TPC stock traded up $1.05 during trading hours on Tuesday, hitting $36.87. 669,286 shares of the stock traded hands, compared to its average volume of 549,167. The stock has a 50-day simple moving average of $25.50 and a 200 day simple moving average of $25.37. Tutor Perini Co. has a one year low of $14.50 and a one year high of $37.21. The company has a market cap of $1.94 billion, a P/E ratio of -14.69 and a beta of 1.62. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.53.

Tutor Perini (NYSE:TPC - Get Free Report) last issued 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 analysts' expectations of $1.08 billion. During the same period in the previous year, the business earned $0.30 earnings per share. Tutor Perini's revenue for the quarter was up 18.8% compared to the same quarter last year.

Insider Buying and Selling

In other Tutor Perini news, Director Raymond R. Oneglia sold 75,000 shares of Tutor Perini stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $36.23, for a total value of $2,717,250.00. Following the transaction, 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 17.30% of the company's stock.

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.