Tutor Perini Corporation $TPC Stock Position Decreased by Jacobs Levy Equity Management Inc.

Key Points

• Jacobs Levy Equity Management Inc. decreased its stake in Tutor Perini Corporation by 7.1%, now holding 735,810 shares valued at over $17 million.
• Institutional investors collectively own 65.01% of Tutor Perini's stock, with several firms increasing their holdings during the last quarter.
• Tutor Perini reported earnings of $1.41 per share, significantly beating estimates and marking a 21.8% year-over-year increase in revenue.

Jacobs Levy Equity Management Inc. decreased its stake in Tutor Perini Corporation (NYSE:TPC - Free Report) by 7.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 735,810 shares of the construction company's stock after selling 56,225 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 1.40% of Tutor Perini worth $17,056,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of TPC. Donald Smith & CO. Inc. boosted its position in shares of 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 worth $93,444,000 after buying an additional 580,963 shares during the period. Pacer Advisors Inc. purchased a new position in Tutor Perini in the first quarter valued at about $13,122,000. Boston Partners boosted its holdings 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 purchasing an additional 322,814 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in Tutor Perini by 246.1% in the first quarter. Assenagon Asset Management S.A. now owns 322,565 shares of the construction company's stock valued at $7,477,000 after purchasing an additional 229,363 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in Tutor Perini by 34.4% in the first quarter. Invesco Ltd. now owns 777,417 shares of the construction company's stock valued at $18,021,000 after purchasing an additional 198,830 shares during the last quarter. Hedge funds and other institutional investors own 65.01% of the company's stock.

Tutor Perini Stock Performance

Shares of Tutor Perini stock traded down $0.21 on Friday, reaching $62.68. 82,840 shares of the company were exchanged, compared to its average volume of 667,846. 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's 50-day moving average is $53.03 and its two-hundred day moving average is $37.96. The firm has a market cap of $3.31 billion, a price-to-earnings ratio of -24.88 and a beta of 1.88. Tutor Perini Corporation has a 1-year low of $18.33 and a 1-year high of $63.96.

Tutor Perini (NYSE:TPC - Get Free Report) last announced 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 business had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.27 billion. During the same period in the prior year, the firm earned $0.02 EPS. The business's quarterly revenue was up 21.8% on a year-over-year basis.

Wall Street Analysts Forecast Growth

TPC has been the subject of a number of analyst reports. Wall Street Zen raised Tutor Perini from a "buy" rating to a "strong-buy" rating in a report on Monday, August 11th. Zacks Research raised Tutor Perini to a "strong-buy" rating in a report on Friday, August 8th. B. Riley increased their price target on Tutor Perini from $50.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Finally, UBS Group increased their price target on Tutor Perini from $59.00 to $67.00 and gave the company a "buy" rating in a report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $60.00.

Insider Transactions at Tutor Perini

In other Tutor Perini news, Chairman Ronald N. Tutor sold 106,832 shares of the stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $59.06, for a total transaction of $6,309,497.92. Following the completion of the transaction, the chairman directly owned 4,395,957 shares of the company's stock, valued at approximately $259,625,220.42. This trade represents a 2.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders sold 400,000 shares of company stock worth $23,677,555. Company insiders own 17.30% of the company's stock.

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.