Invst LLC Takes Position 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 acquired a new stake in Tutor Perini Corporation (NYSE:TPC - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 33,026 shares of the construction company's stock, valued at approximately $766,000. Invst LLC owned about 0.06% of Tutor Perini as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TPC. Donald Smith & CO. Inc. boosted its stake in Tutor Perini by 16.8% in the first 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 last quarter. Pacer Advisors Inc. bought a new position in Tutor Perini in the first quarter valued at approximately $13,122,000. Boston Partners boosted its stake in Tutor Perini by 53.3% in the first quarter. Boston Partners now owns 928,264 shares of the construction company's stock valued at $21,509,000 after acquiring an additional 322,814 shares during the last quarter. Millennium Management LLC boosted its position in shares of Tutor Perini by 165.2% during the first quarter. Millennium Management LLC now owns 383,530 shares of the construction company's stock worth $8,890,000 after purchasing an additional 238,933 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in shares of Tutor Perini by 246.1% during the first quarter. Assenagon Asset Management S.A. now owns 322,565 shares of the construction company's stock worth $7,477,000 after purchasing an additional 229,363 shares in the last quarter. 65.01% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on TPC. B. Riley lifted their price target on shares of Tutor Perini from $50.00 to $75.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. UBS Group lifted their price target 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. Zacks Research raised shares of Tutor Perini to a "strong-buy" rating in a research report on Friday, August 8th. Finally, Wall Street Zen raised shares of Tutor Perini from a "buy" rating to a "strong-buy" rating in a research report on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. According to MarketBeat.com, Tutor Perini currently has an average rating of "Buy" and a consensus target price of $60.00.

Tutor Perini Stock Up 4.6%

Shares of NYSE:TPC traded up $2.96 during midday trading on Thursday, reaching $66.58. 431,357 shares of the company were exchanged, compared to its average volume of 666,558. Tutor Perini Corporation has a fifty-two week low of $18.33 and a fifty-two week high of $66.45. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.32. The stock has a fifty day simple moving average of $54.31 and a two-hundred day simple moving average of $39.17. The firm has a market cap of $3.51 billion, a PE ratio of -26.42 and a beta of 1.88.

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 business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same period last year, the business posted $0.02 earnings per share. The firm'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 106,832 shares of the firm's stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $59.06, for a total value of $6,309,497.92. Following the completion of the transaction, the chairman owned 4,395,957 shares in the company, valued at $259,625,220.42. This trade represents a 2.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders sold 400,000 shares of company stock valued at $23,677,555. 17.30% of the stock is owned by company insiders.

Tutor Perini Company 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.