First Trust Advisors LP Purchases 401,117 Shares of Tutor Perini Co. (NYSE:TPC)

First Trust Advisors LP grew its holdings in shares of Tutor Perini Co. (NYSE:TPC - Free Report) by 74.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 938,478 shares of the construction company's stock after purchasing an additional 401,117 shares during the period. First Trust Advisors LP owned approximately 1.79% of Tutor Perini worth $22,711,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Optimize Financial Inc purchased a new position in Tutor Perini in the 4th quarter worth approximately $221,000. KLP Kapitalforvaltning AS purchased a new position in Tutor Perini in the 4th quarter worth approximately $232,000. Commonwealth Equity Services LLC raised its holdings in Tutor Perini by 7.3% in the 4th quarter. Commonwealth Equity Services LLC now owns 10,291 shares of the construction company's stock worth $249,000 after acquiring an additional 700 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in Tutor Perini by 46.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 14,581 shares of the construction company's stock worth $353,000 after acquiring an additional 4,649 shares during the last quarter. Finally, Sterling Capital Management LLC raised its holdings in Tutor Perini by 7.0% in the 4th quarter. Sterling Capital Management LLC now owns 18,836 shares of the construction company's stock worth $456,000 after acquiring an additional 1,235 shares during the last quarter. 65.01% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. StockNews.com downgraded shares of Tutor Perini from a "buy" rating to a "hold" rating in a research report on Tuesday, January 28th. B. Riley raised shares of Tutor Perini to a "strong-buy" rating in a research report on Tuesday, March 18th.

Tutor Perini Price Performance

TPC stock traded down $0.40 during mid-day trading on Wednesday, hitting $21.37. The company had a trading volume of 231,474 shares, compared to its average volume of 528,251. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of -8.51 and a beta of 1.47. Tutor Perini Co. has a 12-month low of $14.50 and a 12-month high of $34.55. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.53. The company has a 50-day moving average price of $23.12 and a 200 day moving average price of $24.96.

Tutor Perini (NYSE:TPC - Get Free Report) last announced its earnings results on Thursday, February 27th. The construction company reported ($1.51) EPS for the quarter, missing analysts' consensus estimates of $0.29 by ($1.80). The company had revenue of $1.07 billion during the quarter, compared to analysts' expectations of $1.08 billion. Tutor Perini had a negative return on equity of 9.56% and a negative net margin of 3.08%. During the same quarter last year, the firm posted ($0.91) EPS.

Tutor Perini Profile

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.