Tutor Perini Co. (NYSE:TPC) Shares Bought by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. grew its stake in Tutor Perini Co. (NYSE:TPC - Free Report) by 246.1% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 322,565 shares of the construction company's stock after acquiring an additional 229,363 shares during the period. Assenagon Asset Management S.A. owned about 0.61% of Tutor Perini worth $7,477,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in TPC. Boston Partners increased its position in shares of Tutor Perini by 1,801.4% during the fourth quarter. Boston Partners now owns 605,450 shares of the construction company's stock worth $14,666,000 after acquiring an additional 573,608 shares during the period. Fred Alger Management LLC boosted 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 in the last quarter. First Trust Advisors LP grew its position in shares of Tutor Perini by 74.6% during the fourth quarter. First Trust Advisors LP now owns 938,478 shares of the construction company's stock worth $22,711,000 after acquiring an additional 401,117 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Tutor Perini by 223.7% during the fourth quarter. Russell Investments Group Ltd. now owns 312,339 shares of the construction company's stock worth $7,559,000 after buying an additional 215,834 shares during the last quarter. Finally, Donald Smith & CO. Inc. lifted its stake in shares of Tutor Perini by 5.5% in the 4th quarter. Donald Smith & CO. Inc. now owns 3,450,257 shares of the construction company's stock worth $83,496,000 after acquiring an additional 179,819 shares during the period. Hedge funds and other institutional investors own 65.01% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. B. Riley reaffirmed a "buy" rating and issued a $50.00 price target (up previously from $40.00) on shares of Tutor Perini in a report on Friday, June 6th. UBS Group upped their price target on Tutor Perini from $40.00 to $41.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Finally, Wall Street Zen upgraded shares of Tutor Perini from a "hold" rating to a "buy" rating in a research note on Thursday, May 8th.

Tutor Perini Stock Up 2.9%

NYSE TPC traded up $1.23 on Monday, reaching $43.31. The company had a trading volume of 52,170 shares, compared to its average volume of 549,700. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.55 and a quick ratio of 1.55. Tutor Perini Co. has a 1 year low of $14.50 and a 1 year high of $43.49. The firm has a 50-day moving average of $29.98 and a 200-day moving average of $26.42. The firm has a market capitalization of $2.28 billion, a PE ratio of -17.26 and a beta of 1.74.

Tutor Perini (NYSE:TPC - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The construction company reported $0.53 earnings per share for the quarter, beating analysts' consensus estimates of $0.06 by $0.47. Tutor Perini had a negative net margin of 3.08% and a negative return on equity of 9.56%. The company had revenue of $1.25 billion during the quarter, compared to analysts' expectations of $1.08 billion. During the same period in the prior year, the company posted $0.30 EPS. The firm's revenue for the quarter was up 18.8% on a year-over-year basis.

Insider Activity

In related news, Director Raymond R. Oneglia sold 25,000 shares of the firm's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $36.14, for a total transaction of $903,500.00. Following the transaction, the director now directly owns 90,470 shares in the company, valued at $3,269,585.80. This trade represents a 21.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Ronald N. Tutor sold 130,478 shares of the business's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $40.93, for a total transaction of $5,340,464.54. Following the sale, the chairman now owns 4,570,985 shares of the company's stock, valued at approximately $187,090,416.05. The trade was a 2.78% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 410,000 shares of company stock worth $15,891,651. 17.30% of the stock is currently 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.