Tutor Perini Co. (NYSE:TPC) Position Increased by Millennium Management LLC

Millennium Management LLC boosted its stake in Tutor Perini Co. (NYSE:TPC - Free Report) by 90.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 144,597 shares of the construction company's stock after purchasing an additional 68,807 shares during the period. Millennium Management LLC owned approximately 0.28% of Tutor Perini worth $3,499,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Tutor Perini by 5.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,726,545 shares of the construction company's stock valued at $65,982,000 after buying an additional 148,425 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its position in Tutor Perini by 1.1% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 792,035 shares of the construction company's stock worth $19,167,000 after acquiring an additional 8,639 shares in the last quarter. Gotham Asset Management LLC boosted its holdings in Tutor Perini by 4.3% in the 4th quarter. Gotham Asset Management LLC now owns 38,684 shares of the construction company's stock worth $936,000 after acquiring an additional 1,609 shares during the period. Graham Capital Management L.P. acquired a new stake in Tutor Perini in the fourth quarter valued at approximately $319,000. Finally, Fred Alger Management LLC raised its stake in shares of Tutor Perini by 91.9% during the fourth quarter. Fred Alger Management LLC now owns 1,133,014 shares of the construction company's stock valued at $27,419,000 after purchasing an additional 542,647 shares during the period. 65.01% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Tutor Perini

In related news, Chairman Ronald N. Tutor sold 100,000 shares of Tutor Perini stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $38.62, for a total value of $3,862,000.00. Following the completion of the transaction, the chairman now directly owns 4,730,985 shares in the company, valued at approximately $182,710,640.70. This trade represents a 2.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Raymond R. Oneglia sold 25,000 shares of the business's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $36.14, for a total value of $903,500.00. Following the completion of the sale, the director now directly owns 90,470 shares of the company's stock, valued at approximately $3,269,585.80. This represents a 21.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 250,000 shares of company stock valued at $9,355,250. Insiders own 17.30% of the company's stock.

Tutor Perini Stock Up 0.4%

Shares of Tutor Perini stock traded up $0.17 on Wednesday, hitting $38.62. 1,072,620 shares of the company's stock traded hands, compared to its average volume of 546,261. Tutor Perini Co. has a 52-week low of $14.50 and a 52-week high of $39.29. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.53. The stock has a market cap of $2.04 billion, a P/E ratio of -15.39 and a beta of 1.62. The firm's 50-day moving average is $27.28 and its 200 day moving average is $25.85.

Tutor Perini (NYSE:TPC - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The construction company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.47. Tutor Perini had a negative net margin of 3.08% and a negative return on equity of 9.56%. The firm had revenue of $1.25 billion for the quarter, compared to analysts' expectations of $1.08 billion. During the same period in the prior year, the company posted $0.30 earnings per share. The firm's quarterly revenue was up 18.8% on a year-over-year basis.

Analysts Set New Price Targets

Several brokerages have recently weighed in on TPC. B. Riley upgraded shares of Tutor Perini to a "strong-buy" rating in a research note on Tuesday, March 18th. Wall Street Zen upgraded shares of Tutor Perini from a "hold" rating to a "buy" rating in a report on Thursday, May 8th. Finally, UBS Group raised their target price on Tutor Perini from $40.00 to $41.00 and gave the company a "buy" rating in a research note on Friday, May 9th.

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.