KBC Group NV Purchases New Shares in Tutor Perini Corporation (NYSE:TPC)

KBC Group NV bought a new stake in shares of Tutor Perini Corporation (NYSE:TPC - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 19,103 shares of the construction company's stock, valued at approximately $443,000.

A number of other large investors have also recently made changes to their positions in the stock. Donald Smith & CO. Inc. boosted its stake in shares of Tutor Perini by 5.5% during the fourth quarter. Donald Smith & CO. Inc. now owns 3,450,257 shares of the construction company's stock valued at $83,496,000 after purchasing an additional 179,819 shares during the period. Dimensional Fund Advisors LP boosted its stake 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 during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Tutor Perini by 5.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,726,545 shares of the construction company's stock valued at $65,982,000 after purchasing an additional 148,425 shares during the period. Fred Alger Management LLC boosted its stake in shares of Tutor Perini by 91.9% during the fourth quarter. Fred Alger Management LLC now owns 1,133,014 shares of the construction company's stock valued at $27,419,000 after purchasing an additional 542,647 shares during the period. Finally, First Trust Advisors LP boosted its stake 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 during the period. 65.01% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Tutor Perini news, Chairman Ronald N. Tutor sold 130,478 shares of the stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $40.93, for a total transaction of $5,340,464.54. Following the completion of the sale, the chairman directly owned 4,570,985 shares of the company's stock, valued at approximately $187,090,416.05. This represents a 2.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Raymond R. Oneglia sold 25,000 shares of the stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $36.14, for a total transaction of $903,500.00. Following the sale, the director directly owned 90,470 shares of the company's stock, valued at approximately $3,269,585.80. The trade was a 21.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 410,000 shares of company stock valued at $15,891,651. Insiders own 17.30% of the company's stock.

Tutor Perini Stock Down 1.9%

Shares of TPC stock traded down $0.92 on Tuesday, hitting $47.07. The stock had a trading volume of 800,702 shares, compared to its average volume of 567,257. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.33. The business has a 50 day moving average price of $38.14 and a 200 day moving average price of $28.63. The company has a market cap of $2.48 billion, a PE ratio of -16.34 and a beta of 1.79. Tutor Perini Corporation has a one year low of $14.50 and a one year high of $48.79.

Tutor Perini (NYSE:TPC - Get Free Report) last announced 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 during the quarter, compared to the consensus estimate of $1.08 billion. Tutor Perini had a negative net margin of 3.35% and a negative return on equity of 11.64%. The firm's revenue was up 18.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.30 earnings per share.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. UBS Group lifted their price objective on Tutor Perini from $40.00 to $41.00 and gave the company a "buy" rating in a report on Friday, May 9th. B. Riley restated a "buy" rating and issued a $50.00 price objective (up from $40.00) on shares of Tutor Perini in a report on Friday, June 6th. Finally, Wall Street Zen upgraded Tutor Perini from a "hold" rating to a "buy" rating in a report on Thursday, May 8th.

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.