Jump Financial LLC Invests $419,000 in Tutor Perini Corporation $TPC

Key Points

• Jump Financial LLC acquired 18,092 shares of Tutor Perini Corporation, valued at approximately $419,000, marking a new investment for the firm in the first quarter.
• Several institutional investors increased their stakes in Tutor Perini, with Donald Smith & Co. raising their position by 16.8% and Assenagon Asset Management lifting theirs by 246.1% during the same period.
• Wall Street analysts show optimism for Tutor Perini, raising ratings and price targets, with a consensus target price of $60.00 and most analysts rating it a "Buy" or "Strong Buy."

Jump Financial LLC acquired a new stake in Tutor Perini Corporation (NYSE:TPC - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 18,092 shares of the construction company's stock, valued at approximately $419,000.

A number of other hedge funds and other institutional investors have also modified their holdings of TPC. Envestnet Asset Management Inc. boosted its stake in Tutor Perini by 46.8% during the 4th quarter. Envestnet Asset Management Inc. now owns 14,581 shares of the construction company's stock worth $353,000 after purchasing an additional 4,649 shares during the period. Hsbc Holdings PLC boosted its stake in Tutor Perini by 9.8% during the 4th quarter. Hsbc Holdings PLC now owns 31,031 shares of the construction company's stock worth $743,000 after purchasing an additional 2,759 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Tutor Perini by 15.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 111,873 shares of the construction company's stock worth $2,708,000 after purchasing an additional 14,572 shares during the period. Tudor Investment Corp ET AL acquired a new stake in Tutor Perini during the 4th quarter worth $284,000. Finally, Northern Trust Corp boosted its stake in Tutor Perini by 9.8% during the 4th quarter. Northern Trust Corp now owns 425,798 shares of the construction company's stock worth $10,304,000 after purchasing an additional 38,170 shares during the period. 65.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TPC has been the subject of a number of analyst reports. B. Riley upped their price objective 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 upped their price objective 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 upgraded shares of Tutor Perini to a "strong-buy" rating in a research report on Friday, August 8th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. Based on data from MarketBeat.com, Tutor Perini presently has a consensus rating of "Buy" and an average target price of $60.00.

Insiders Place Their Bets

In related news, Chairman Ronald N. Tutor sold 130,478 shares of the business's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $40.93, for a total value of $5,340,464.54. Following the completion of the transaction, the chairman owned 4,570,985 shares of the company's stock, valued at approximately $187,090,416.05. The trade was a 2.78% 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 have sold 515,688 shares of company stock valued at $27,593,787. Insiders own 17.30% of the company's stock.

Tutor Perini Price Performance

Shares of Tutor Perini stock traded up $1.90 on Thursday, hitting $60.93. The company's stock had a trading volume of 504,643 shares, compared to its average volume of 676,274. Tutor Perini Corporation has a 52-week low of $18.33 and a 52-week high of $63.96. 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 fifty day moving average price of $51.16 and a 200-day moving average price of $36.42. The company has a market capitalization of $3.21 billion, a P/E ratio of -24.18 and a beta of 1.88.

Tutor Perini (NYSE:TPC - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The construction company reported $1.41 EPS for the quarter, topping the consensus estimate 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 in the previous year, the firm earned $0.02 EPS. The business's revenue for the quarter was up 21.8% compared to the same quarter last year.

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.