Balyasny Asset Management L.P. Increases Holdings in Tutor Perini Co. (NYSE:TPC)

Balyasny Asset Management L.P. lifted its stake in Tutor Perini Co. (NYSE:TPC - Free Report) by 406.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,851 shares of the construction company's stock after purchasing an additional 57,673 shares during the period. Balyasny Asset Management L.P. owned 0.14% of Tutor Perini worth $1,739,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Donald Smith & CO. Inc. increased its stake in Tutor Perini by 5.5% in the 4th quarter. Donald Smith & CO. Inc. now owns 3,450,257 shares of the construction company's stock worth $83,496,000 after buying an additional 179,819 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Tutor Perini by 6.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,825,350 shares of the construction company's stock valued at $68,373,000 after purchasing an additional 170,440 shares in the last quarter. First Trust Advisors LP grew its position in shares of Tutor Perini by 74.6% during the fourth quarter. First Trust Advisors LP now owns 938,478 shares of the construction company's stock valued at $22,711,000 after purchasing an additional 401,117 shares in the last quarter. Hennessy Advisors Inc. grew its position in shares of Tutor Perini by 6.8% during the fourth quarter. Hennessy Advisors Inc. now owns 682,981 shares of the construction company's stock valued at $16,528,000 after purchasing an additional 43,600 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of Tutor Perini by 4.5% during the fourth quarter. Renaissance Technologies LLC now owns 624,080 shares of the construction company's stock valued at $15,103,000 after purchasing an additional 27,100 shares in the last quarter. 65.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on TPC shares. UBS Group increased their price target on shares of Tutor Perini from $40.00 to $41.00 and gave the company a "buy" rating in a report on Friday. StockNews.com raised shares of Tutor Perini from a "hold" rating to a "buy" rating in a report on Thursday, May 8th. Finally, B. Riley raised shares of Tutor Perini to a "strong-buy" rating in a report on Tuesday, March 18th.

Tutor Perini Stock Up 7.8%

Shares of NYSE TPC opened at $35.25 on Tuesday. The company has a market cap of $1.86 billion, a P/E ratio of -14.04 and a beta of 1.62. The firm has a 50-day simple moving average of $23.29 and a two-hundred day simple moving average of $24.81. Tutor Perini Co. has a 1 year low of $14.50 and a 1 year high of $35.31. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.55 and a quick ratio of 1.55.

Tutor Perini (NYSE:TPC - Get Free Report) last issued its earnings results on Wednesday, May 7th. The construction company reported $0.53 EPS for the quarter, topping analysts' consensus estimates of $0.06 by $0.47. The business had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.08 billion. Tutor Perini had a negative net margin of 3.08% and a negative return on equity of 9.56%. The company's quarterly revenue was up 18.8% compared to the same quarter last year. During the same period last year, the company posted $0.30 earnings per share.

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.

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