198,386 Shares in Tutor Perini Corporation (NYSE:TPC) Acquired by Bastion Asset Management Inc.

Key Points

• Bastion Asset Management Inc. acquired 198,386 shares of Tutor Perini Corporation, valued at approximately $4.73 million, making it the 11th largest holding in their investment portfolio.
• Several institutional investors have increased their stakes in Tutor Perini, including GAMMA Investing LLC and CWM LLC, which grew their positions by over 30% in the first quarter of the year.
• Research analysts have recently upgraded their ratings on Tutor Perini, with UBS Group raising the target price from $41.00 to $59.00 and B. Riley increasing its target to $50.00.

Bastion Asset Management Inc. bought a new position in shares of Tutor Perini Corporation (NYSE:TPC - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 198,386 shares of the construction company's stock, valued at approximately $4,734,000. Tutor Perini comprises 2.6% of Bastion Asset Management Inc.'s investment portfolio, making the stock its 11th biggest holding. Bastion Asset Management Inc. owned approximately 0.38% of Tutor Perini at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in shares of Tutor Perini by 32.5% in the 1st quarter. GAMMA Investing LLC now owns 2,080 shares of the construction company's stock valued at $48,000 after buying an additional 510 shares during the last quarter. CWM LLC grew its position in shares of Tutor Perini by 32.8% in the 1st quarter. CWM LLC now owns 3,442 shares of the construction company's stock valued at $80,000 after buying an additional 850 shares during the last quarter. State of Wyoming grew its position in shares of Tutor Perini by 39.7% in the 4th quarter. State of Wyoming now owns 6,212 shares of the construction company's stock valued at $150,000 after buying an additional 1,764 shares during the last quarter. Optimize Financial Inc purchased a new position in shares of Tutor Perini in the 4th quarter valued at $221,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Tutor Perini in the 1st quarter valued at $229,000. Hedge funds and other institutional investors own 65.01% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Wall Street Zen raised shares of Tutor Perini from a "buy" rating to a "strong-buy" rating in a research report on Saturday. UBS Group increased their target price on shares of Tutor Perini from $41.00 to $59.00 and gave the company a "buy" rating in a research report on Thursday, July 10th. Finally, B. Riley reaffirmed a "buy" rating and issued a $50.00 target price (up from $40.00) on shares of Tutor Perini in a research report on Friday, June 6th.

Tutor Perini Stock Down 0.7%

Shares of NYSE:TPC opened at $47.96 on Friday. The stock has a market cap of $2.53 billion, a P/E ratio of -16.65 and a beta of 1.79. The firm has a fifty day moving average price of $42.50 and a 200 day moving average price of $30.41. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 1.33. Tutor Perini Corporation has a 1-year low of $14.50 and a 1-year high of $51.98.

Tutor Perini (NYSE:TPC - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The construction company reported $0.53 earnings per share for the quarter, topping analysts' consensus estimates of $0.06 by $0.47. The firm had revenue of $1.25 billion during the quarter, compared to analysts' expectations of $1.08 billion. Tutor Perini had a negative net margin of 3.35% and a negative return on equity of 11.64%. Tutor Perini's quarterly revenue was up 18.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.30 EPS.

Insider Activity at Tutor Perini

In other news, Chairman Ronald N. Tutor sold 130,478 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The stock was 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 owned 4,570,985 shares in the company, valued at $187,090,416.05. This represents a 2.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Raymond R. Oneglia sold 25,000 shares of the company's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $36.14, for a total transaction of $903,500.00. Following the transaction, the director 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 position. The disclosure for this sale can be found here. Insiders have sold 410,000 shares of company stock valued at $15,891,651 in the last 90 days. Company insiders own 17.30% of the company's stock.

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.

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