Sumitomo Mitsui DS Asset Management Company Ltd Takes Position in Tutor Perini Co. (NYSE:TPC)

Sumitomo Mitsui DS Asset Management Company Ltd acquired a new stake in Tutor Perini Co. (NYSE:TPC) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 710,690 shares of the construction company’s stock, valued at approximately $6,467,000. Sumitomo Mitsui DS Asset Management Company Ltd owned 1.37% of Tutor Perini at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Jacobs Levy Equity Management Inc. boosted its position in shares of Tutor Perini by 25.7% in the third quarter. Jacobs Levy Equity Management Inc. now owns 420,821 shares of the construction company’s stock valued at $3,295,000 after acquiring an additional 86,141 shares during the period. Barclays PLC boosted its position in shares of Tutor Perini by 79.5% in the third quarter. Barclays PLC now owns 34,456 shares of the construction company’s stock valued at $269,000 after acquiring an additional 15,262 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Tutor Perini by 9.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,697,413 shares of the construction company’s stock valued at $13,291,000 after acquiring an additional 146,033 shares during the period. Acadian Asset Management LLC bought a new position in shares of Tutor Perini in the third quarter valued at approximately $697,000. Finally, Assenagon Asset Management S.A. bought a new position in shares of Tutor Perini in the fourth quarter valued at approximately $463,000. 65.01% of the stock is currently owned by institutional investors.

Tutor Perini Price Performance

Shares of TPC opened at $13.28 on Monday. The firm’s 50 day simple moving average is $12.35 and its 200 day simple moving average is $9.69. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.61. Tutor Perini Co. has a 1-year low of $4.90 and a 1-year high of $16.33.

Tutor Perini (NYSE:TPC) last announced its earnings results on Wednesday, February 28th. The construction company reported ($0.91) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.98). The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $951.50 million. Tutor Perini had a negative net margin of 4.41% and a negative return on equity of 12.73%. On average, equities research analysts anticipate that Tutor Perini Co. will post 0.92 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tutor Perini news, President Gary G. Smalley sold 15,940 shares of Tutor Perini stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $13.28, for a total transaction of $211,683.20. Following the transaction, the president now directly owns 68,346 shares of the company’s stock, valued at $907,634.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Tutor Perini news, President Gary G. Smalley sold 15,940 shares of Tutor Perini stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $13.28, for a total transaction of $211,683.20. Following the transaction, the president now directly owns 68,346 shares of the company’s stock, valued at $907,634.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Gary G. Smalley sold 20,303 shares of Tutor Perini stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $12.40, for a total transaction of $251,757.20. Following the transaction, the president now directly owns 160,507 shares in the company, valued at $1,990,286.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 64,201 shares of company stock valued at $822,980. 19.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Tutor Perini from a “buy” rating to a “hold” rating in a research report on Saturday, March 30th.

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.