Bridgeway Capital Management LLC Sells 67,181 Shares of Tutor Perini Corporation $TPC

Key Points

• Bridgeway Capital Management LLC reduced its stake in Tutor Perini Corporation by 10.7%, selling 67,181 shares during the first quarter, and now holds 563,066 shares valued at approximately $13.05 million.
• Company Chairman Ronald N. Tutor sold 80,660 shares for about $4.83 million, while insiders have sold a total of 515,688 shares worth nearly $27.6 million over the past 90 days.
• Tutor Perini reported a significant earnings beat in its last quarter, with earnings per share of $1.41 compared to the consensus estimate of $0.29, alongside a 21.8% year-over-year revenue increase to $1.37 billion.

Bridgeway Capital Management LLC trimmed its holdings in shares of Tutor Perini Corporation (NYSE:TPC - Free Report) by 10.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 563,066 shares of the construction company's stock after selling 67,181 shares during the period. Bridgeway Capital Management LLC owned approximately 1.07% of Tutor Perini worth $13,052,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. GAMMA Investing LLC boosted 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 valued at $48,000 after buying an additional 510 shares in the last quarter. Comerica Bank boosted its stake in Tutor Perini by 30.7% during the first quarter. Comerica Bank now owns 2,423 shares of the construction company's stock valued at $56,000 after buying an additional 569 shares in the last quarter. CWM LLC boosted its stake 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 in the last quarter. First Wilshire Securities Management Inc. boosted its stake in Tutor Perini by 0.3% during the first quarter. First Wilshire Securities Management Inc. now owns 264,758 shares of the construction company's stock valued at $6,137,000 after buying an additional 857 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its stake in Tutor Perini by 8.8% during 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 buying an additional 1,000 shares in the last quarter. 65.01% of the stock is owned by institutional investors and hedge funds.

Tutor Perini Stock Up 2.5%

NYSE TPC traded up $1.54 during trading on Friday, reaching $62.54. 630,530 shares of the company's stock were exchanged, compared to its average volume of 618,217. Tutor Perini Corporation has a fifty-two week low of $18.33 and a fifty-two week high of $63.96. The company's fifty day simple moving average is $51.83 and its 200-day simple moving average is $36.96. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $3.30 billion, a PE ratio of -24.82 and a beta of 1.88.

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

Insider Buying and Selling at Tutor Perini

In other news, Chairman Ronald N. Tutor sold 44,312 shares of the firm's stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $59.13, for a total transaction of $2,620,168.56. Following the completion of the sale, the chairman directly owned 4,270,985 shares of the company's stock, valued at $252,543,343.05. This trade represents a 1.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders sold 560,000 shares of company stock worth $30,213,955. 17.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. B. Riley raised their target price on Tutor Perini from $50.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. UBS Group increased their price target on Tutor Perini from $59.00 to $67.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Wall Street Zen upgraded Tutor Perini from a "buy" rating to a "strong-buy" rating in a research report on Monday, August 11th. Finally, Zacks Research upgraded Tutor Perini to a "strong-buy" rating in a research report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. According to data from MarketBeat, the company currently 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.