Amanah Holdings Trust Invests $19.16 Million 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 acquired a new position in shares of Tutor Perini Corporation (NYSE:TPC - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 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 position. Amanah Holdings Trust owned 0.78% of Tutor Perini at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in Tutor Perini by 32.5% during the first quarter. GAMMA Investing LLC now owns 2,080 shares of the construction company's stock worth $48,000 after purchasing an additional 510 shares during the last quarter. New Age Alpha Advisors LLC acquired a new stake in Tutor Perini in the first quarter worth $54,000. Comerica Bank increased its position 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 buying an additional 569 shares during the period. CWM LLC increased its position in Tutor Perini by 32.8% in the first quarter. CWM LLC now owns 3,442 shares of the construction company's stock worth $80,000 after buying an additional 850 shares during the period. Finally, AlphaQuest LLC increased its position in Tutor Perini by 849.2% in the first quarter. AlphaQuest LLC now owns 3,436 shares of the construction company's stock worth $80,000 after buying an additional 3,074 shares during the period. 65.01% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Tutor Perini

In other Tutor Perini news, Chairman Ronald N. Tutor sold 106,832 shares of Tutor Perini stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $59.06, for a total value 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Over the last quarter, insiders sold 400,000 shares of company stock valued at $23,677,555. 17.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

TPC has been the topic of a number of research analyst reports. Zacks Research raised Tutor Perini to a "strong-buy" rating in a report on Friday, August 8th. B. Riley raised their price target on Tutor Perini from $50.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Wall Street Zen raised Tutor Perini from a "buy" rating to a "strong-buy" rating in a report on Monday, August 11th. Finally, UBS Group raised their price target on Tutor Perini from $59.00 to $67.00 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. According to data from MarketBeat.com, Tutor Perini has a consensus rating of "Buy" and a consensus price target of $60.00.

Tutor Perini Stock Down 0.2%

NYSE TPC traded down $0.14 during trading on Friday, reaching $66.08. 171,891 shares of the company's stock were exchanged, compared to its average volume of 667,474. The firm has a market capitalization of $3.48 billion, a PE ratio of -26.23 and a beta of 1.88. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.32. Tutor Perini Corporation has a fifty-two week low of $18.33 and a fifty-two week high of $66.74. The company's fifty day simple moving average is $54.69 and its 200-day simple moving average is $39.36.

Tutor Perini (NYSE:TPC - Get Free Report) last announced its quarterly earnings results 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. The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.27 billion. Tutor Perini had a negative return on equity of 6.41% and a negative net margin of 2.77%.The firm's revenue was up 21.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.02 EPS.

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.