Bailard Inc. Makes New Investment in Tutor Perini Corporation (NYSE:TPC)

Bailard Inc. acquired a new position in shares of Tutor Perini Corporation (NYSE:TPC - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 11,800 shares of the construction company's stock, valued at approximately $274,000.

Several other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in shares of Tutor Perini by 32.5% in the 1st quarter. GAMMA Investing LLC now owns 2,080 shares of the construction company's stock worth $48,000 after buying an additional 510 shares during the last quarter. Commonwealth Equity Services LLC lifted its holdings in Tutor Perini by 7.3% in the fourth quarter. Commonwealth Equity Services LLC now owns 10,291 shares of the construction company's stock worth $249,000 after acquiring an additional 700 shares during the last quarter. CWM LLC boosted its stake in 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 acquiring an additional 850 shares during the period. New York State Common Retirement Fund boosted its stake in Tutor Perini by 8.8% in the first quarter. New York State Common Retirement Fund now owns 12,358 shares of the construction company's stock valued at $286,000 after acquiring an additional 1,000 shares during the period. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Tutor Perini by 7.5% during the first quarter. Envestnet Asset Management Inc. now owns 15,677 shares of the construction company's stock valued at $363,000 after purchasing an additional 1,096 shares during the last quarter. 65.01% of the stock is currently owned by institutional investors.

Tutor Perini Stock Performance

Shares of NYSE TPC traded down $0.92 during midday trading on Thursday, hitting $48.25. 492,188 shares of the company's stock were exchanged, compared to its average volume of 719,194. Tutor Perini Corporation has a twelve month low of $14.50 and a twelve month high of $51.98. The firm has a market cap of $2.54 billion, a P/E ratio of -16.75 and a beta of 1.79. The stock's 50 day moving average price is $42.26 and its 200-day moving average price is $30.26. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 1.33.

Tutor Perini (NYSE:TPC - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The construction company reported $0.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.06 by $0.47. Tutor Perini had a negative return on equity of 11.64% and a negative net margin of 3.35%. The company had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the previous year, the firm posted $0.30 EPS. The firm's quarterly revenue was up 18.8% on a year-over-year basis.

Analyst Ratings Changes

Several brokerages recently issued reports on TPC. UBS Group raised their price target on Tutor Perini from $41.00 to $59.00 and gave the stock a "buy" rating in a report on Thursday, July 10th. B. Riley reiterated a "buy" rating and issued a $50.00 target price (up from $40.00) on shares of Tutor Perini in a research note on Friday, June 6th. Finally, Wall Street Zen downgraded shares of Tutor Perini from a "strong-buy" rating to a "buy" rating in a report on Friday, July 18th.

Insider Activity

In other news, Director Raymond R. Oneglia sold 25,000 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $36.14, for a total value of $903,500.00. Following the completion of the transaction, the director directly owned 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Ronald N. Tutor sold 130,478 shares of the firm's stock in a transaction that occurred 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 transaction, the chairman owned 4,570,985 shares in the company, valued at $187,090,416.05. This represents a 2.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold 410,000 shares of company stock valued at $15,891,651 in the last ninety days. Corporate 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.