KLP Kapitalforvaltning AS Takes Position in Tutor Perini Co. (NYSE:TPC)

KLP Kapitalforvaltning AS purchased a new position in Tutor Perini Co. (NYSE:TPC) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 9,600 shares of the construction company’s stock, valued at approximately $232,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. FMR LLC grew its holdings in Tutor Perini by 103.1% during the 3rd quarter. FMR LLC now owns 4,725 shares of the construction company’s stock worth $128,000 after acquiring an additional 2,399 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Tutor Perini during the third quarter worth about $201,000. EP Wealth Advisors LLC acquired a new position in Tutor Perini in the third quarter worth about $234,000. Commonwealth Equity Services LLC increased its holdings in Tutor Perini by 7.3% in the fourth quarter. Commonwealth Equity Services LLC now owns 10,291 shares of the construction company’s stock valued at $249,000 after buying an additional 700 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in Tutor Perini by 35.3% during the third quarter. The Manufacturers Life Insurance Company now owns 22,827 shares of the construction company’s stock valued at $620,000 after buying an additional 5,953 shares in the last quarter. Hedge funds and other institutional investors own 65.01% of the company’s stock.

Tutor Perini Stock Performance

TPC stock opened at $20.03 on Tuesday. The stock’s fifty day moving average is $23.91 and its two-hundred day moving average is $25.62. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of -7.98 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. Tutor Perini Co. has a 1 year low of $13.15 and a 1 year high of $34.55.

Tutor Perini (NYSE:TPC) last posted its earnings results on Thursday, February 27th. The construction company reported ($1.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($1.80). Tutor Perini had a negative net margin of 3.08% and a negative return on equity of 9.56%. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period in the previous year, the firm earned ($0.91) earnings per share.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TPC. B. Riley upgraded Tutor Perini to a “strong-buy” rating in a research report on Tuesday, March 18th. Vertical Research started coverage on shares of Tutor Perini in a report on Tuesday, December 10th. They issued a “buy” rating and a $38.00 price objective for the company. Finally, StockNews.com cut shares of Tutor Perini from a “buy” rating to a “hold” rating in a report on Tuesday, January 28th.

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.