Amanah Holdings Trust Makes New $19.16 Million Investment in Tutor Perini Corporation $TPC

Key Points

• Amanah Holdings Trust has made a new investment in Tutor Perini Corporation, purchasing 410,000 shares valued at approximately $19.16 million, which represents 4.8% of its investment portfolio.
• Several hedge funds have increased their stakes in Tutor Perini, with notable increases from Donald Smith & Co. and Assenagon Asset Management, indicating growing institutional interest as they own 65.01% of the company's stock.
• Tutor Perini reported a quarterly earnings per share of $1.41, significantly exceeding analysts' expectations of $0.29, along with revenues of $1.37 billion, marking a growth of 21.8% compared to the same period last year.

Amanah Holdings Trust purchased a new position in shares of Tutor Perini Corporation (NYSE:TPC - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 410,000 shares of the construction company's stock, valued at approximately $19,163,000. Tutor Perini comprises 4.8% of Amanah Holdings Trust's investment portfolio, making the stock its 11th biggest holding. Amanah Holdings Trust owned about 0.78% of Tutor Perini as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in TPC. Donald Smith & CO. Inc. raised its holdings in Tutor Perini by 16.8% during the 1st quarter. Donald Smith & CO. Inc. now owns 4,031,220 shares of the construction company's stock worth $93,444,000 after purchasing an additional 580,963 shares during the last quarter. Pacer Advisors Inc. acquired a new stake in shares of Tutor Perini during the 1st quarter worth approximately $13,122,000. Boston Partners grew its position in shares of Tutor Perini by 53.3% during the 1st quarter. Boston Partners now owns 928,264 shares of the construction company's stock worth $21,509,000 after buying an additional 322,814 shares during the period. Millennium Management LLC grew its position in shares of Tutor Perini by 165.2% during the 1st quarter. Millennium Management LLC now owns 383,530 shares of the construction company's stock worth $8,890,000 after buying an additional 238,933 shares during the period. Finally, Assenagon Asset Management S.A. grew its position in shares of Tutor Perini by 246.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 322,565 shares of the construction company's stock worth $7,477,000 after buying an additional 229,363 shares during the period. Institutional investors own 65.01% of the company's stock.

Tutor Perini Price Performance

TPC opened at $63.96 on Monday. 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 company has a market capitalization of $3.37 billion, a price-to-earnings ratio of -25.38 and a beta of 1.88. The firm's fifty day moving average price is $53.35 and its two-hundred day moving average price is $38.46. Tutor Perini Corporation has a 1 year low of $18.33 and a 1 year high of $65.00.

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, topping analysts' consensus estimates of $0.29 by $1.12. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.27 billion. Tutor Perini had a negative net margin of 2.77% and a negative return on equity of 6.41%. The business's revenue for the quarter was up 21.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.02 EPS.

Analysts Set New Price Targets

Several analysts have recently commented on TPC shares. B. Riley raised their price objective on shares of Tutor Perini from $50.00 to $75.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Zacks Research raised shares of Tutor Perini to a "strong-buy" rating in a research report on Friday, August 8th. 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. Finally, UBS Group raised their price objective on shares of Tutor Perini from $59.00 to $67.00 and gave the stock 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 company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $60.00.

Insider Transactions at Tutor Perini

In other Tutor Perini news, Chairman Ronald N. Tutor sold 106,832 shares of Tutor Perini stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $59.06, for a total transaction of $6,309,497.92. Following the transaction, the chairman directly owned 4,395,957 shares of the company's stock, valued at $259,625,220.42. The trade was a 2.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders have sold 400,000 shares of company stock worth $23,677,555. 17.30% of the stock is owned by insiders.

Tutor Perini Company 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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