Invst LLC Makes New $766,000 Investment in Tutor Perini Corporation $TPC

Key Points

• Invst LLC has acquired 33,026 shares of Tutor Perini Corporation, valued at approximately $766,000, increasing its stake to 0.06% as reported in their latest SEC filing.
• Tutor Perini recently reported a $1.41 EPS for the quarter, significantly exceeding analyst expectations, with revenue up 21.8% year-over-year.
• Several analysts upgraded Tutor Perini's stock rating, with UBS increasing the price target from $59 to $67, reflecting positive sentiment in the market.

Invst LLC purchased a new position in shares of Tutor Perini Corporation (NYSE:TPC - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 33,026 shares of the construction company's stock, valued at approximately $766,000. Invst LLC owned approximately 0.06% of Tutor Perini at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. GAMMA Investing LLC boosted its position in shares of Tutor Perini by 32.5% during the 1st quarter. GAMMA Investing LLC now owns 2,080 shares of the construction company's stock valued at $48,000 after acquiring an additional 510 shares in the last quarter. Aristeia Capital L.L.C. lifted its stake in Tutor Perini by 4.6% during the first quarter. Aristeia Capital L.L.C. now owns 11,957 shares of the construction company's stock worth $277,000 after purchasing an additional 530 shares during the period. Comerica Bank boosted its holdings 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 purchasing an additional 569 shares in the last quarter. CWM LLC grew its stake in shares of Tutor Perini by 32.8% in the 1st quarter. CWM LLC now owns 3,442 shares of the construction company's stock valued at $80,000 after purchasing an additional 850 shares during the period. Finally, First Wilshire Securities Management Inc. raised its holdings in shares of Tutor Perini by 0.3% in the 1st quarter. First Wilshire Securities Management Inc. now owns 264,758 shares of the construction company's stock worth $6,137,000 after buying an additional 857 shares in the last quarter. Institutional investors and hedge funds own 65.01% of the company's stock.

Wall Street Analyst Weigh In

TPC has been the topic of several recent analyst reports. B. Riley boosted their price target on Tutor Perini from $50.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Wall Street Zen raised Tutor Perini from a "buy" rating to a "strong-buy" rating in a report on Monday, August 11th. Zacks Research upgraded shares of Tutor Perini to a "strong-buy" rating in a research note on Friday, August 8th. 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 research report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $60.00.

Insider Activity at Tutor Perini

In related news, Chairman Ronald N. Tutor sold 44,312 shares of the firm's stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $59.13, for a total value of $2,620,168.56. Following the completion of the sale, the chairman 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold 400,000 shares of company stock worth $23,677,555 over the last quarter. 17.30% of the stock is owned by corporate insiders.

Tutor Perini Price Performance

Shares of Tutor Perini stock traded up $0.24 during trading on Monday, reaching $64.20. The company's stock had a trading volume of 573,762 shares, compared to its average volume of 520,401. The stock has a 50-day moving average price of $53.67 and a two-hundred day moving average price of $38.76. The stock has a market capitalization of $3.39 billion, a P/E ratio of -25.48 and a beta of 1.88. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.32. Tutor Perini Corporation has a one year low of $18.33 and a one year high of $65.60.

Tutor Perini (NYSE:TPC - Get Free Report) last issued 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. 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 analyst estimates of $1.27 billion. During the same quarter in the prior year, the firm earned $0.02 EPS. The company's revenue was up 21.8% on a year-over-year basis.

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.