Advisors Asset Management Inc. Buys 14,564 Shares of Tutor Perini Corporation $TPC

Key Points

• Advisors Asset Management Inc. increased its stake in Tutor Perini Corporation by 15.9%, owning 106,011 shares valued at approximately $2.46 million as of its latest SEC filing.
• Shares of Tutor Perini are currently trading at $62.54, with a significant one-year price range between $18.33 and $63.96, indicating strong market performance.
• After recent earnings, Tutor Perini received several upgrades from analysts, with Zacks Research upgrading its rating to "strong-buy" and price targets increased by UBS Group and B. Riley.

Advisors Asset Management Inc. lifted its stake in shares of Tutor Perini Corporation (NYSE:TPC - Free Report) by 15.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 106,011 shares of the construction company's stock after purchasing an additional 14,564 shares during the period. Advisors Asset Management Inc. owned 0.20% of Tutor Perini worth $2,457,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. GAMMA Investing LLC lifted its position in shares of Tutor Perini by 32.5% during 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. Comerica Bank raised its stake in Tutor Perini by 30.7% in the 1st quarter. Comerica Bank now owns 2,423 shares of the construction company's stock valued at $56,000 after acquiring an additional 569 shares during the period. CWM LLC lifted its holdings in 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 purchasing an additional 850 shares during the last quarter. First Wilshire Securities Management Inc. lifted its holdings in Tutor Perini by 0.3% during the first quarter. First Wilshire Securities Management Inc. now owns 264,758 shares of the construction company's stock valued at $6,137,000 after purchasing an additional 857 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its position in Tutor Perini by 8.8% during the first quarter. New York State Common Retirement Fund now owns 12,358 shares of the construction company's stock worth $286,000 after purchasing an additional 1,000 shares during the period. 65.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Tutor Perini Price Performance

Tutor Perini stock traded up $1.07 during midday trading on Friday, reaching $63.96. 617,677 shares of the stock were exchanged, compared to its average volume of 516,865. The firm has a market cap of $3.37 billion, a PE ratio of -25.38 and a beta of 1.88. Tutor Perini Corporation has a 52 week low of $18.33 and a 52 week high of $65.00. The company's fifty day moving average is $53.35 and its 200-day moving average is $38.25. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.32 and a current ratio of 1.32.

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

Insider Activity

In other news, Chairman Ronald N. Tutor sold 44,312 shares of the business's stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $59.13, for a total transaction of $2,620,168.56. Following the completion of the transaction, the chairman owned 4,270,985 shares of the company's stock, valued at approximately $252,543,343.05. The trade was a 1.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders sold 400,000 shares of company stock worth $23,677,555. Company insiders own 17.30% of the company's stock.

About Tutor Perini

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.