Lingohr Asset Management GmbH Makes New Investment in Tutor Perini Corporation $TPC

Key Points

• Lingohr Asset Management GmbH acquired 4,404 shares of Tutor Perini Corporation, valued at approximately $206,000, during the second quarter.
• Several hedge funds, including Donald Smith & CO. Inc. and Millennium Management LLC, significantly increased their holdings in Tutor Perini, indicating growing institutional interest as 65.01% of the stock is owned by institutional investors.
• Tutor Perini reported a strong quarterly performance with $1.41 earnings per share, surpassing expectations and showing a 21.8% increase in revenue compared to the previous year.

Lingohr Asset Management GmbH purchased a new stake in shares of Tutor Perini Corporation (NYSE:TPC - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 4,404 shares of the construction company's stock, valued at approximately $206,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Northern Trust Corp grew its stake in shares of Tutor Perini by 9.8% during the fourth quarter. Northern Trust Corp now owns 425,798 shares of the construction company's stock worth $10,304,000 after buying an additional 38,170 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of Tutor Perini by 8.8% during the fourth quarter. Ameriprise Financial Inc. now owns 211,843 shares of the construction company's stock worth $5,127,000 after buying an additional 17,217 shares during the last quarter. Bank of America Corp DE grew its position in Tutor Perini by 25.0% during the 4th quarter. Bank of America Corp DE now owns 206,941 shares of the construction company's stock worth $5,008,000 after acquiring an additional 41,451 shares during the last quarter. Captrust Financial Advisors bought a new stake in Tutor Perini during the 4th quarter worth $251,000. Finally, Deutsche Bank AG grew its position in Tutor Perini by 34.2% during the 4th quarter. Deutsche Bank AG now owns 48,285 shares of the construction company's stock worth $1,168,000 after acquiring an additional 12,296 shares during the last quarter. 65.01% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. UBS Group boosted their price target on Tutor Perini from $59.00 to $67.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Zacks Research raised shares of Tutor Perini to a "strong-buy" rating in a report on Friday, August 8th. B. Riley boosted their target price on shares of Tutor Perini from $50.00 to $75.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Finally, Wall Street Zen raised shares of Tutor Perini from a "buy" rating to a "strong-buy" rating in a research note on Monday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $60.00.

Tutor Perini Stock Down 0.7%

NYSE:TPC traded down $0.45 on Friday, hitting $65.78. The stock had a trading volume of 185,248 shares, compared to its average volume of 667,510. Tutor Perini Corporation has a 52 week low of $18.33 and a 52 week high of $66.74. The business's fifty day moving average is $54.69 and its 200 day moving average is $39.36. 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 company has a market cap of $3.47 billion, a PE ratio of -26.11 and a beta of 1.88.

Tutor Perini (NYSE:TPC - Get Free Report) last issued its earnings results on Wednesday, August 6th. The construction company reported $1.41 earnings per share (EPS) 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 company had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.27 billion. During the same period last year, the business earned $0.02 EPS. Tutor Perini's quarterly revenue was up 21.8% compared to the same quarter last year.

Insider Activity

In other Tutor Perini news, Chairman Ronald N. Tutor sold 106,832 shares of Tutor Perini stock in a transaction dated 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 owned 4,395,957 shares in the company, valued at approximately $259,625,220.42. The trade was a 2.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 400,000 shares of company stock worth $23,677,555 in the last ninety days. 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.