Graham Capital Management L.P. Grows Stock Position in Tutor Perini Corporation $TPC

Key Points

• Graham Capital Management L.P. increased its holdings in Tutor Perini Corporation by 146.0%, now owning 32,466 shares valued at approximately $753,000.
• Tutor Perini's stock has been given a "strong-buy" rating by analysts, with B. Riley raising the target price from $50.00 to $75.00 following a positive earnings report.
• Insider trading has seen Chairman Ronald N. Tutor selling 80,660 shares valued at nearly $4.84 million, reducing his ownership by 1.83% but still holding significantly over 4 million shares.

Graham Capital Management L.P. grew its holdings in Tutor Perini Corporation (NYSE:TPC - Free Report) by 146.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,466 shares of the construction company's stock after buying an additional 19,271 shares during the quarter. Graham Capital Management L.P. owned 0.06% of Tutor Perini worth $753,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Donald Smith & CO. Inc. grew its stake in Tutor Perini by 16.8% in the 1st quarter. Donald Smith & CO. Inc. now owns 4,031,220 shares of the construction company's stock valued at $93,444,000 after acquiring an additional 580,963 shares during the period. Vanguard Group Inc. lifted its holdings in Tutor Perini by 4.8% during the first quarter. Vanguard Group Inc. now owns 2,829,370 shares of the construction company's stock valued at $65,585,000 after purchasing an additional 130,747 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Tutor Perini by 5.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,726,545 shares of the construction company's stock valued at $65,982,000 after purchasing an additional 148,425 shares in the last quarter. Fred Alger Management LLC grew its position in shares of Tutor Perini by 91.9% in the fourth quarter. Fred Alger Management LLC now owns 1,133,014 shares of the construction company's stock valued at $27,419,000 after purchasing an additional 542,647 shares during the period. Finally, Boston Partners increased its stake in shares of Tutor Perini by 53.3% during the first quarter. Boston Partners now owns 928,264 shares of the construction company's stock worth $21,509,000 after purchasing an additional 322,814 shares in the last quarter. 65.01% of the stock is owned by institutional investors and hedge funds.

Tutor Perini Price Performance

Shares of TPC stock traded up $1.90 during trading hours on Wednesday, reaching $62.37. The company had a trading volume of 395,451 shares, compared to its average volume of 544,096. Tutor Perini Corporation has a 12-month low of $18.33 and a 12-month high of $63.96. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.32 and a current ratio of 1.32. The company has a market capitalization of $3.29 billion, a price-to-earnings ratio of -24.75 and a beta of 1.88. The stock has a fifty day moving average of $52.72 and a 200-day moving average of $37.78.

Tutor Perini (NYSE:TPC - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The construction company reported $1.41 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $1.12. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.27 billion. Tutor Perini had a negative return on equity of 6.41% and a negative net margin of 2.77%.The firm's revenue was up 21.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.02 earnings per share.

Insider Activity at Tutor Perini

In other news, Chairman Ronald N. Tutor sold 106,832 shares of the business's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $59.06, for a total transaction of $6,309,497.92. Following the transaction, the chairman owned 4,395,957 shares of the company's stock, valued at approximately $259,625,220.42. The trade was a 2.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last 90 days, insiders sold 400,000 shares of company stock worth $23,677,555. 17.30% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on TPC shares. 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. Zacks Research raised Tutor Perini to a "strong-buy" rating in a report on Friday, August 8th. UBS Group raised their target price on Tutor Perini from $59.00 to $67.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Finally, B. Riley lifted their price target on Tutor Perini from $50.00 to $75.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. One equities 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, Tutor Perini currently has a consensus rating of "Buy" and an average price target of $60.00.

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.