Nuveen LLC Acquires Shares of 140,253 Tutor Perini Corporation $TPC

Key Points

• Nuveen LLC has acquired a $3.25 million stake in Tutor Perini Corporation, purchasing approximately 140,253 shares during the first quarter.
• Several investors, including Donald Smith & CO. Inc. and Vanguard Group Inc., have increased their holdings in Tutor Perini, with institutional ownership now at 65.01%.
• Tutor Perini reported a significant quarterly earnings performance, with earnings per share of $1.41, exceeding analysts' estimates, and a year-over-year revenue increase of 21.8%.

Nuveen LLC purchased a new position in Tutor Perini Corporation (NYSE:TPC - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 140,253 shares of the construction company's stock, valued at approximately $3,251,000. Nuveen LLC owned 0.27% of Tutor Perini as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Donald Smith & CO. Inc. increased its stake in Tutor Perini by 16.8% in the first quarter. Donald Smith & CO. Inc. now owns 4,031,220 shares of the construction company's stock valued at $93,444,000 after acquiring an additional 580,963 shares during the last quarter. Pacer Advisors Inc. bought a new position in Tutor Perini in the first quarter valued at $13,122,000. Fred Alger Management LLC increased its stake in Tutor Perini by 91.9% in 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 acquiring an additional 542,647 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in Tutor Perini by 246.1% in the first quarter. Assenagon Asset Management S.A. now owns 322,565 shares of the construction company's stock valued at $7,477,000 after acquiring an additional 229,363 shares during the last quarter. Finally, Invesco Ltd. increased its stake in Tutor Perini by 34.4% in the first quarter. Invesco Ltd. now owns 777,417 shares of the construction company's stock valued at $18,021,000 after acquiring an additional 198,830 shares during the last quarter. Institutional investors own 65.01% of the company's stock.

Tutor Perini Stock Down 1.5%

NYSE TPC traded down $0.90 during mid-day trading on Friday, reaching $59.03. The stock had a trading volume of 423,597 shares, compared to its average volume of 769,670. The stock has a market cap of $3.11 billion, a PE ratio of -23.42 and a beta of 1.83. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.32 and a quick ratio of 1.32. The company has a fifty day moving average price of $50.22 and a 200 day moving average price of $35.68. Tutor Perini Corporation has a 1 year low of $18.33 and a 1 year high of $63.96.

Tutor Perini (NYSE:TPC - Get Free Report) last announced its earnings results 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. The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.27 billion. Tutor Perini had a negative net margin of 2.77% and a negative return on equity of 6.41%. The company's quarterly revenue was up 21.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.02 EPS.

Analyst Ratings Changes

A number of research analysts have recently issued reports on TPC shares. Wall Street Zen raised Tutor Perini from a "buy" rating to a "strong-buy" rating in a research note on Monday, August 11th. Zacks Research raised Tutor Perini to a "strong-buy" rating in a research note on Friday, August 8th. B. Riley raised their target price on Tutor Perini from $50.00 to $75.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Finally, UBS Group raised their target price on Tutor Perini from $59.00 to $67.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. One investment 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.com, the company has a consensus rating of "Buy" and an average price target of $60.00.

Insider Activity at Tutor Perini

In other news, Chairman Ronald N. Tutor sold 106,832 shares of the company's stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $59.06, for a total value of $6,309,497.92. Following the completion of the sale, the chairman directly owned 4,395,957 shares in the company, valued at $259,625,220.42. This represents a 2.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In the last ninety days, insiders sold 585,028 shares of company stock valued at $28,492,720. Corporate insiders own 17.30% of the company's stock.

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.