Massachusetts Financial Services Co. MA Increases Stock Position in Tutor Perini Co. (NYSE:TPC)

Massachusetts Financial Services Co. MA grew its position in shares of Tutor Perini Co. (NYSE:TPC) by 587.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 91,003 shares of the construction company’s stock after purchasing an additional 77,767 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Tutor Perini were worth $2,202,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Barclays PLC boosted its position in shares of Tutor Perini by 298.0% in the 3rd quarter. Barclays PLC now owns 69,875 shares of the construction company’s stock valued at $1,898,000 after purchasing an additional 52,319 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Tutor Perini by 611.0% in the third quarter. JPMorgan Chase & Co. now owns 536,384 shares of the construction company’s stock valued at $14,568,000 after acquiring an additional 460,945 shares during the period. Assenagon Asset Management S.A. grew its position in shares of Tutor Perini by 67.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 93,202 shares of the construction company’s stock worth $2,255,000 after acquiring an additional 37,478 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Tutor Perini by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,023,198 shares of the construction company’s stock valued at $27,795,000 after acquiring an additional 38,458 shares during the period. Finally, State Street Corp increased its holdings in shares of Tutor Perini by 2.0% in the 3rd quarter. State Street Corp now owns 975,082 shares of the construction company’s stock valued at $26,483,000 after acquiring an additional 19,518 shares during the period. Institutional investors and hedge funds own 65.01% of the company’s stock.

Tutor Perini Stock Down 2.2 %

Shares of Tutor Perini stock opened at $19.60 on Wednesday. Tutor Perini Co. has a one year low of $13.15 and a one year high of $34.55. The company has a market cap of $1.03 billion, a P/E ratio of -7.81 and a beta of 1.47. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.55 and a current ratio of 1.55. The firm has a fifty day moving average of $23.81 and a two-hundred day moving average of $25.53.

Tutor Perini (NYSE:TPC) last posted its quarterly earnings results on Thursday, February 27th. The construction company reported ($1.51) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($1.80). The firm had revenue of $1.07 billion for 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 period in the prior year, the company earned ($0.91) earnings per share.

Analyst Upgrades and Downgrades

Several research analysts have issued reports 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. Vertical Research began coverage on Tutor Perini in a report on Tuesday, December 10th. They set a “buy” rating and a $38.00 price target on the stock. Finally, B. Riley raised Tutor Perini to a “strong-buy” rating in a research note on Tuesday, March 18th.

Tutor Perini Company 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.