Tutor Perini Corporation $TPC Stake Boosted by Mirova

Key Points

• Mirova increased its stake in Tutor Perini Corporation by 27.2%, acquiring an additional 15,268 shares during the first quarter, bringing its total ownership to 71,438 shares worth approximately $1.66 million.
• Other institutional investors have also boosted their positions in Tutor Perini, with Donald Smith & CO. and Vanguard Group increasing their stakes significantly in the 1st quarter.
• Tutor Perini reported a $1.41 earnings per share for the last quarter, surpassing analyst expectations, and had revenues of $1.37 billion, a year-over-year increase of 21.8%.

Mirova boosted its position in Tutor Perini Corporation (NYSE:TPC - Free Report) by 27.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 71,438 shares of the construction company's stock after acquiring an additional 15,268 shares during the quarter. Mirova owned 0.14% of Tutor Perini worth $1,656,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Jump Financial LLC acquired a new position in Tutor Perini in the 1st quarter valued at $419,000. Hotchkis & Wiley Capital Management LLC grew its stake in shares of Tutor Perini by 1.3% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 262,269 shares of the construction company's stock worth $6,079,000 after purchasing an additional 3,350 shares during the period. Brightline Capital Management LLC grew its stake in shares of Tutor Perini by 24.7% during the 1st quarter. Brightline Capital Management LLC now owns 702,000 shares of the construction company's stock worth $16,272,000 after purchasing an additional 139,000 shares during the period. AlphaQuest LLC grew its stake in shares of Tutor Perini by 849.2% during the 1st quarter. AlphaQuest LLC now owns 3,436 shares of the construction company's stock worth $80,000 after purchasing an additional 3,074 shares during the period. Finally, Martingale Asset Management L P grew its stake in shares of Tutor Perini by 25.7% during the 1st quarter. Martingale Asset Management L P now owns 40,630 shares of the construction company's stock worth $942,000 after purchasing an additional 8,303 shares during the period. Institutional investors and hedge funds own 65.01% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on TPC. 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. B. Riley raised their price target 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. Zacks Research upgraded shares of Tutor Perini to a "strong-buy" rating in a research note on Friday, August 8th. Finally, UBS Group upped their price target on shares of Tutor Perini from $59.00 to $67.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $60.00.

Tutor Perini Stock Up 1.8%

TPC stock traded up $1.04 during midday trading on Thursday, hitting $59.83. The stock had a trading volume of 695,516 shares, compared to its average volume of 680,111. Tutor Perini Corporation has a 52-week low of $18.33 and a 52-week high of $63.96. The firm has a market cap of $3.16 billion, a price-to-earnings ratio of -23.74 and a beta of 1.83. The business has a 50-day moving average of $49.52 and a two-hundred day moving average of $35.19. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.32 and a quick ratio of 1.32.

Tutor Perini (NYSE:TPC - Get Free Report) last posted 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. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.27 billion. Tutor Perini had a negative return on equity of 6.41% and a negative net margin of 2.77%.The business's revenue for the quarter was up 21.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.02 earnings per share.

Insider Activity at Tutor Perini

In other news, Chairman Ronald N. Tutor sold 130,478 shares of the firm's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $40.93, for a total transaction of $5,340,464.54. Following the completion of the transaction, the chairman directly owned 4,570,985 shares in the company, valued at $187,090,416.05. This trade represents a 2.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold a total of 585,028 shares of company stock worth $28,492,720 over the last ninety days. 17.30% of the stock is owned by corporate 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.