John G Ullman & Associates Inc. Makes New $234,000 Investment in Tutor Perini Corporation $TPC

Key Points

• John G Ullman & Associates Inc. made a new investment of $234,000 in Tutor Perini Corporation by acquiring 5,000 shares during the second quarter.
• Tutor Perini reported a 21.8% year-over-year increase in revenue, totaling $1.37 billion, despite a negative earnings per share of $1.41 beating analysts' estimates.
• Several institutional investors have increased their holdings in Tutor Perini, with hedge funds owning 65.01% of the company's stock, reflecting strong interest in the construction sector.

John G Ullman & Associates Inc. acquired a new position in Tutor Perini Corporation (NYSE:TPC - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 5,000 shares of the construction company's stock, valued at approximately $234,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. KLP Kapitalforvaltning AS lifted its holdings in Tutor Perini by 3.1% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 9,900 shares of the construction company's stock worth $463,000 after buying an additional 300 shares during the period. GAMMA Investing LLC lifted its holdings in Tutor Perini by 32.5% in the 1st quarter. GAMMA Investing LLC now owns 2,080 shares of the construction company's stock worth $48,000 after buying an additional 510 shares during the period. Aristeia Capital L.L.C. lifted its holdings in Tutor Perini by 4.6% in the 1st quarter. Aristeia Capital L.L.C. now owns 11,957 shares of the construction company's stock worth $277,000 after buying an additional 530 shares during the period. Comerica Bank lifted its holdings in Tutor Perini by 30.7% in the 1st quarter. Comerica Bank now owns 2,423 shares of the construction company's stock worth $56,000 after buying an additional 569 shares during the period. Finally, CWM LLC lifted its holdings in Tutor Perini by 32.8% in the 1st quarter. CWM LLC now owns 3,442 shares of the construction company's stock worth $80,000 after buying an additional 850 shares during the period. Hedge funds and other institutional investors own 65.01% of the company's stock.

Tutor Perini Stock Up 0.1%

TPC stock opened at $64.28 on Friday. Tutor Perini Corporation has a twelve month low of $18.33 and a twelve month high of $68.09. 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 firm has a market cap of $3.39 billion, a PE ratio of -25.51 and a beta of 1.86. The business has a 50 day moving average of $61.53 and a 200 day moving average of $45.09.

Tutor Perini (NYSE:TPC - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The construction company reported $1.41 earnings per share for the quarter, beating 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 company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same quarter last year, the company earned $0.02 EPS. The firm's revenue for the quarter was up 21.8% on a year-over-year basis.

Insider Buying and Selling

In related news, Director Sidney J. Feltenstein sold 124,668 shares of the firm's stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $65.96, for a total transaction of $8,223,101.28. Following the completion of the transaction, the director owned 187,274 shares of the company's stock, valued at $12,352,593.04. This trade represents a 39.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Ronald N. Tutor sold 116,856 shares of the firm's stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $64.21, for a total value of $7,503,323.76. Following the transaction, the chairman directly owned 4,154,129 shares of the company's stock, valued at approximately $266,736,623.09. This trade represents a 2.74% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 725,000 shares of company stock valued at $44,824,931. 17.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TPC. Zacks Research lowered Tutor Perini from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 6th. B. Riley increased their target price on 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 increased their target price on Tutor Perini from $59.00 to $67.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Wall Street Zen raised Tutor Perini from a "buy" rating to a "strong-buy" rating in a research report on Monday, August 11th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Tutor Perini in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $60.00.

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.

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