Brandywine Global Investment Management LLC Acquires 35,202 Shares of Tutor Perini Corporation $TPC

Key Points

• Brandywine Global Investment Management LLC increased its holdings in Tutor Perini Corporation by 22.9%, acquiring an additional 35,202 shares, bringing its total ownership to approximately 188,852 shares valued at $4.38 million.
• Several institutional investors, including GAMMA Investing LLC and CWM LLC, also boosted their stakes in Tutor Perini during the first quarter, indicating a growing interest in the company's stock.
• Analysts have positively upgraded Tutor Perini's rating, with B. Riley and UBS Group raising their price targets significantly, highlighting a consensus rating of "Buy" and an average target price of $60.00.

Brandywine Global Investment Management LLC increased its holdings in Tutor Perini Corporation (NYSE:TPC - Free Report) by 22.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 188,852 shares of the construction company's stock after buying an additional 35,202 shares during the period. Brandywine Global Investment Management LLC owned 0.36% of Tutor Perini worth $4,378,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC raised its position 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 valued at $48,000 after buying an additional 510 shares in the last quarter. New Age Alpha Advisors LLC acquired a new stake in shares of Tutor Perini in the first quarter valued at approximately $54,000. CWM LLC raised its position in shares of 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 buying an additional 850 shares in the last quarter. State of Wyoming raised its position in shares of Tutor Perini by 39.7% in 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 in the last quarter. Finally, Aigen Investment Management LP acquired a new position in Tutor Perini during the first quarter valued at approximately $200,000. 65.01% of the stock is currently owned by institutional investors and hedge funds.

Tutor Perini Price Performance

Shares of NYSE TPC traded up $1.0750 during midday trading on Thursday, reaching $57.0650. 497,041 shares of the company were exchanged, compared to its average volume of 682,615. The stock's 50-day moving average price is $47.90 and its 200-day moving average price is $33.96. The stock has a market cap of $3.01 billion, a P/E ratio of -22.64 and a beta of 1.83. Tutor Perini Corporation has a one year low of $18.33 and a one year high of $63.96. 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 posted its earnings results on Wednesday, August 6th. The construction company reported $1.41 earnings per share for the quarter, topping analysts' consensus estimates 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 firm had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.27 billion. During the same quarter in the previous year, the firm posted $0.02 earnings per share. The company's revenue was up 21.8% on a year-over-year basis.

Insider Buying and Selling at Tutor Perini

In related news, 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 value of $5,340,464.54. Following the sale, the chairman owned 4,570,985 shares of the company's stock, valued at $187,090,416.05. The trade was a 2.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold a total of 310,000 shares of company stock valued at $12,270,901 over the last quarter. Insiders own 17.30% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on TPC shares. UBS Group boosted their price objective on shares of Tutor Perini from $59.00 to $67.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. B. Riley boosted their price objective on shares of Tutor Perini from $50.00 to $75.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Zacks Research upgraded shares of Tutor Perini to a "strong-buy" rating in a research report on Friday, August 8th. Finally, Wall Street Zen upgraded shares of Tutor Perini from a "buy" rating to a "strong-buy" rating in a research report on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. According to data from MarketBeat.com, Tutor Perini has an average rating of "Buy" and an average price target of $60.00.

Tutor Perini 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.