8,315 Shares in Tutor Perini Corporation $TPC Purchased by Counterpoint Mutual Funds LLC

Key Points

• Counterpoint Mutual Funds LLC acquired 8,315 shares of Tutor Perini Corporation, representing a new investment valued at approximately $389,000.
• Several institutional investors, including GAMMA Investing and Comerica Bank, have significantly increased their stakes in Tutor Perini, which now sees over 65% of its stock owned by hedge funds and institutional investors.
• Despite a recent drop of 0.3% in shares, Tutor Perini reported strong earnings of $1.41 per share, beating estimates and showing a 21.8% increase in quarterly revenue compared to last year.

Counterpoint Mutual Funds LLC acquired a new position in Tutor Perini Corporation (NYSE:TPC - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 8,315 shares of the construction company's stock, valued at approximately $389,000.

Several other large investors have also recently made changes to their positions in the business. GAMMA Investing LLC boosted 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 worth $48,000 after purchasing an additional 510 shares in the last quarter. New Age Alpha Advisors LLC bought a new stake in Tutor Perini in the first quarter worth $54,000. Comerica Bank boosted its holdings in Tutor Perini by 30.7% in the first quarter. Comerica Bank now owns 2,423 shares of the construction company's stock worth $56,000 after acquiring an additional 569 shares in the last quarter. CWM LLC increased its holdings in shares of Tutor Perini by 32.8% during the first quarter. CWM LLC now owns 3,442 shares of the construction company's stock valued at $80,000 after acquiring an additional 850 shares in the last quarter. Finally, AlphaQuest LLC increased its holdings in shares of Tutor Perini by 849.2% during the first quarter. AlphaQuest LLC now owns 3,436 shares of the construction company's stock valued at $80,000 after acquiring an additional 3,074 shares in the last quarter. 65.01% of the stock is currently owned by hedge funds and other institutional investors.

Tutor Perini Stock Down 0.3%

Shares of Tutor Perini stock opened at $66.62 on Wednesday. Tutor Perini Corporation has a twelve month low of $18.33 and a twelve month high of $68.09. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.32. The company's 50 day moving average is $55.75 and its 200 day moving average is $40.35. The company has a market cap of $3.51 billion, a price-to-earnings ratio of -26.44 and a beta of 1.88.

Tutor Perini (NYSE:TPC - Get Free Report) last announced its earnings results on Wednesday, August 6th. The construction company reported $1.41 earnings per share for the quarter, beating analysts' consensus estimates of $0.29 by $1.12. The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.27 billion. Tutor Perini had a negative net margin of 2.77% and a negative return on equity of 6.41%. The company's quarterly revenue was up 21.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.02 EPS.

Insider Activity

In other Tutor Perini news, Chairman Ronald N. Tutor sold 116,856 shares of the business's stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $64.21, for a total transaction of $7,503,323.76. Following the completion of the sale, the chairman directly owned 4,154,129 shares in the company, valued at $266,736,623.09. The trade was a 2.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Sidney J. Feltenstein sold 124,668 shares of the company's stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $65.96, for a total transaction of $8,223,101.28. Following the sale, the director directly owned 187,274 shares of the company's stock, valued at $12,352,593.04. The trade was a 39.97% decrease in their position. The disclosure for this sale can be found here. Insiders sold 725,000 shares of company stock worth $44,824,931 over the last three months. Insiders own 17.30% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Zacks Research raised shares of Tutor Perini to a "strong-buy" rating in a research report on Friday, August 8th. Wall Street Zen upgraded shares of Tutor Perini from a "buy" rating to a "strong-buy" rating in a research note on Monday, August 11th. UBS Group raised their price target on shares of Tutor Perini from $59.00 to $67.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Finally, B. Riley upped their price objective on Tutor Perini from $50.00 to $75.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $60.00.

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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