SG Americas Securities LLC Invests $965,000 in Tutor Perini Corporation (NYSE:TPC)

SG Americas Securities LLC acquired a new stake in shares of Tutor Perini Corporation (NYSE:TPC - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 41,638 shares of the construction company's stock, valued at approximately $965,000. SG Americas Securities LLC owned about 0.08% of Tutor Perini as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Donald Smith & CO. Inc. grew its position 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 purchasing an additional 179,819 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Tutor Perini by 6.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,825,350 shares of the construction company's stock worth $68,373,000 after buying an additional 170,440 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Tutor Perini by 5.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,726,545 shares of the construction company's stock worth $65,982,000 after acquiring an additional 148,425 shares during the period. Fred Alger Management LLC increased its position in 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 acquiring an additional 542,647 shares during the last quarter. Finally, First Trust Advisors LP increased its position in 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 acquiring an additional 401,117 shares during the last quarter. Institutional investors own 65.01% of the company's stock.

Tutor Perini Stock Performance

Tutor Perini stock traded up $0.10 during trading on Thursday, reaching $41.99. The company had a trading volume of 425,305 shares, compared to its average volume of 553,952. The firm has a market capitalization of $2.21 billion, a price-to-earnings ratio of -14.58 and a beta of 1.74. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.33. The firm's 50-day simple moving average is $31.24 and its 200 day simple moving average is $26.74. Tutor Perini Corporation has a 52 week low of $14.50 and a 52 week high of $43.94.

Tutor Perini (NYSE:TPC - Get Free Report) last issued its quarterly 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. Tutor Perini had a negative return on equity of 11.64% and a negative net margin of 3.35%. The business had revenue of $1.25 billion during the quarter, compared to analysts' expectations of $1.08 billion. During the same quarter in the prior year, the business posted $0.30 earnings per share. The business's quarterly revenue was up 18.8% on a year-over-year basis.

Insider Buying and Selling

In related news, Chairman Ronald N. Tutor sold 130,478 shares of the company's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $40.93, for a total value of $5,340,464.54. Following the completion of the transaction, the chairman now owns 4,570,985 shares of the company's stock, valued at approximately $187,090,416.05. This represents a 2.78% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Raymond R. Oneglia sold 75,000 shares of the firm's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $36.23, for a total value of $2,717,250.00. Following the sale, the director now directly owns 115,470 shares in the company, valued at approximately $4,183,478.10. This represents a 39.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 410,000 shares of company stock valued at $15,891,651. 17.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

TPC has been the subject of a number of recent research reports. Wall Street Zen upgraded Tutor Perini from a "hold" rating to a "buy" rating in a research note on Thursday, May 8th. UBS Group raised their price objective on shares of Tutor Perini from $40.00 to $41.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Finally, B. Riley restated a "buy" rating and set a $50.00 target price (up from $40.00) on shares of Tutor Perini in a research report on Friday, June 6th.

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.