Tutor Perini Corporation $TPC Shares Bought by Boston Partners

Key Points

• Boston Partners increased its stake in Tutor Perini Corporation by 53.3% in Q1, holding approximately 928,264 shares valued at about $21.5 million.
• In Q1, other institutional investors also significantly raised their positions, with Donald Smith & CO. Inc. increasing its stake by 16.8% and Assenagon Asset Management boosting theirs by 246.1%.
• Tutor Perini Corporation reported an earnings per share (EPS) of $1.41 for the last quarter, exceeding analyst expectations and marking a 21.8% increase in revenue year over year.

Boston Partners raised its holdings in shares of Tutor Perini Corporation (NYSE:TPC - Free Report) by 53.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 928,264 shares of the construction company's stock after acquiring an additional 322,814 shares during the quarter. Boston Partners owned about 1.76% of Tutor Perini worth $21,509,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of TPC. GAMMA Investing LLC increased its holdings 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 worth $48,000 after purchasing an additional 510 shares during the period. New Age Alpha Advisors LLC bought a new position in Tutor Perini in the first quarter valued at $54,000. CWM LLC boosted its position in Tutor Perini by 32.8% during 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 during the period. State of Wyoming boosted its position in Tutor Perini by 39.7% during 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 during the period. Finally, Aigen Investment Management LP purchased a new stake in Tutor Perini during the first quarter valued at about $200,000. Institutional investors own 65.01% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TPC. B. Riley increased their target price on shares of Tutor Perini from $50.00 to $75.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Zacks Research upgraded shares of Tutor Perini to a "strong-buy" rating in a report on Friday, August 8th. Wall Street Zen upgraded shares of Tutor Perini from a "buy" rating to a "strong-buy" rating in a report on Monday, August 11th. Finally, UBS Group increased their target price on shares of Tutor Perini from $59.00 to $67.00 and gave the stock 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 assigned a Buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $60.00.

Insider Buying and Selling at Tutor Perini

In related news, Chairman Ronald N. Tutor sold 130,478 shares of Tutor Perini 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 transaction, the chairman owned 4,570,985 shares in the company, valued at approximately $187,090,416.05. The trade was a 2.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders have sold 310,000 shares of company stock worth $12,270,901. 17.30% of the stock is currently owned by insiders.

Tutor Perini Stock Up 1.0%

Shares of NYSE TPC traded up $0.5850 on Thursday, reaching $56.5750. 98,483 shares of the company's stock traded hands, compared to its average volume of 680,001. Tutor Perini Corporation has a 12 month low of $18.33 and a 12 month high of $63.96. The business's 50 day simple moving average is $47.90 and its two-hundred day simple moving average is $33.96. The company has a market cap of $2.98 billion, a price-to-earnings ratio of -22.44 and a beta of 1.83. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.32.

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 for the quarter, beating the consensus estimate of $0.29 by $1.12. Tutor Perini had a negative net margin of 2.77% and a negative return on equity of 6.41%. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter last year, the firm earned $0.02 earnings per share. The firm's quarterly revenue was up 21.8% compared to the same quarter last year.

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.