Aigen Investment Management LP Invests $200,000 in Tutor Perini Corporation $TPC

Key Points

• Aigen Investment Management LP acquired 8,635 shares of Tutor Perini Corporation, investing approximately $200,000 in the company during the first quarter.
• Recent earnings reports show that Tutor Perini beat analysts' estimates, reporting $1.41 EPS against a consensus estimate of $0.29.
• Multiple analysts have upgraded Tutor Perini's stock ratings, with B. Riley setting a new price target of $75.00 and three analysts issuing buy ratings.

Aigen Investment Management LP purchased a new stake in Tutor Perini Corporation (NYSE:TPC - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 8,635 shares of the construction company's stock, valued at approximately $200,000.

A number of other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Tutor Perini by 4.8% in the first quarter. Vanguard Group Inc. now owns 2,829,370 shares of the construction company's stock valued at $65,585,000 after acquiring an additional 130,747 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Tutor Perini by 6.4% in 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 acquiring an additional 170,440 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in 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 valued at $65,982,000 after acquiring an additional 148,425 shares during the last quarter. Fred Alger Management LLC lifted its stake in Tutor Perini by 91.9% in 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 lifted its stake in shares of Tutor Perini by 74.6% during the 4th quarter. First Trust Advisors LP now owns 938,478 shares of the construction company's stock worth $22,711,000 after buying an additional 401,117 shares during the last quarter. Institutional investors and hedge funds own 65.01% of the company's stock.

Insider Activity

In other 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 value of $5,340,464.54. Following 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold 310,000 shares of company stock valued at $12,270,901 over the last quarter. Corporate insiders own 17.30% of the company's stock.

Tutor Perini Stock Down 64.8%

TPC traded down $36.3020 during trading on Thursday, hitting $19.6880. 82,403 shares of the company's stock were exchanged, compared to its average volume of 679,941. Tutor Perini Corporation has a fifty-two week low of $18.33 and a fifty-two week high of $63.96. 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 stock has a market cap of $1.04 billion, a P/E ratio of -22.30 and a beta of 1.83. The business's 50 day moving average is $47.90 and its two-hundred day moving average is $33.96.

Tutor Perini (NYSE:TPC - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The construction company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $0.29 by $1.12. The company 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 firm's revenue for the quarter was up 21.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.02 earnings per share.

Analyst Ratings Changes

A number of brokerages recently commented on TPC. 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. Zacks Research upgraded shares of Tutor Perini to a "strong-buy" rating in a research note on Friday, August 8th. UBS Group lifted their price objective on shares of Tutor Perini from $59.00 to $67.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Finally, B. Riley raised their target price on shares of Tutor Perini from $50.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price 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.