GAMMA Investing LLC Raises Holdings in Tutor Perini Corporation (NYSE:TPC)

GAMMA Investing LLC grew its stake in shares of Tutor Perini Corporation (NYSE:TPC - Free Report) by 2,971.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 48,214 shares of the construction company's stock after acquiring an additional 46,644 shares during the period. GAMMA Investing LLC owned 0.09% of Tutor Perini worth $1,118,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of TPC. State of Wyoming grew its stake 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 worth $150,000 after acquiring an additional 1,764 shares during the last quarter. Optimize Financial Inc bought a new position in shares of Tutor Perini in the fourth quarter valued at approximately $221,000. KLP Kapitalforvaltning AS bought a new stake in shares of Tutor Perini during the fourth quarter worth $232,000. Commonwealth Equity Services LLC increased its holdings in shares of Tutor Perini by 7.3% in the fourth quarter. Commonwealth Equity Services LLC now owns 10,291 shares of the construction company's stock valued at $249,000 after purchasing an additional 700 shares in the last quarter. Finally, EP Wealth Advisors LLC boosted its holdings in Tutor Perini by 19.5% in the fourth quarter. EP Wealth Advisors LLC now owns 10,294 shares of the construction company's stock valued at $249,000 after acquiring an additional 1,680 shares during the last quarter. 65.01% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Tutor Perini

In other Tutor Perini news, Chairman Ronald N. Tutor sold 130,478 shares of Tutor Perini stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $40.93, for a total transaction of $5,340,464.54. Following the sale, the chairman now directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Raymond R. Oneglia sold 75,000 shares of Tutor Perini stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $36.23, for a total value of $2,717,250.00. Following the completion of the transaction, the director now directly owns 115,470 shares of the company's stock, valued at approximately $4,183,478.10. This represents a 39.38% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 410,000 shares of company stock worth $15,891,651. 17.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

Tutor Perini Trading Down 1.9%

Shares of NYSE TPC traded down $0.82 during midday trading on Tuesday, reaching $41.88. The stock had a trading volume of 837,733 shares, compared to its average volume of 554,205. Tutor Perini Corporation has a twelve month low of $14.50 and a twelve month high of $43.94. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.33. The company's 50 day moving average price is $30.44 and its 200 day moving average price is $26.53.

Tutor Perini (NYSE:TPC - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The construction company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.47. The business had revenue of $1.25 billion for the quarter, compared to analysts' expectations of $1.08 billion. Tutor Perini had a negative return on equity of 11.64% and a negative net margin of 3.35%. The business's revenue was up 18.8% on a year-over-year basis. During the same period last year, the business earned $0.30 EPS.

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.