Algert Global LLC Boosts Stake in Tutor Perini Corporation $TPC

Key Points

• Algert Global LLC increased its stake in Tutor Perini Corporation by 59.3%, owning 245,555 shares valued at approximately $5.69 million.
• Brokerages have upgraded Tutor Perini's stock rating, with Wall Street Zen and Zacks Research both issuing a "strong-buy" rating and a consensus target price of $60.00.
• Tutor Perini reported a quarterly EPS of $1.41, significantly surpassing expectations, and achieved a 21.8% increase in revenue compared to the same quarter last year.

Algert Global LLC raised its holdings in Tutor Perini Corporation (NYSE:TPC - Free Report) by 59.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 245,555 shares of the construction company's stock after purchasing an additional 91,421 shares during the quarter. Algert Global LLC owned 0.47% of Tutor Perini worth $5,692,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its stake in shares of Tutor Perini by 32.5% in the first 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 in the last quarter. New Age Alpha Advisors LLC acquired a new stake in shares of Tutor Perini in the first quarter valued at $54,000. CWM LLC grew its stake in shares of Tutor Perini by 32.8% in the first quarter. CWM LLC now owns 3,442 shares of the construction company's stock valued at $80,000 after buying an additional 850 shares in the last quarter. State of Wyoming grew its stake in shares of Tutor Perini by 39.7% in the fourth 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 in the last quarter. Finally, Aigen Investment Management LP acquired a new stake in shares of Tutor Perini in the first quarter valued at $200,000. Hedge funds and other institutional investors own 65.01% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on TPC. Wall Street Zen raised Tutor Perini from a "buy" rating to a "strong-buy" rating in a research note on Monday, August 11th. Zacks Research raised Tutor Perini to a "strong-buy" rating in a research note on Friday, August 8th. UBS Group boosted their target price on 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 boosted their target price on Tutor Perini from $50.00 to $75.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Three research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Tutor Perini presently has an average rating of "Buy" and a consensus target price of $60.00.

Insider Activity

In other news, Chairman Ronald N. Tutor sold 130,478 shares of the company's stock in a transaction dated 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 transaction, 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders sold 310,000 shares of company stock worth $12,270,901. Corporate insiders own 17.30% of the company's stock.

Tutor Perini Trading Up 1.2%

TPC opened at $57.41 on Tuesday. Tutor Perini Corporation has a 12 month low of $18.33 and a 12 month high of $63.96. The stock has a market capitalization of $3.03 billion, a price-to-earnings ratio of -22.78 and a beta of 1.83. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.32 and a quick ratio of 1.32. The business has a fifty day moving average price of $47.28 and a 200 day moving average price of $33.58.

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

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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