Quantbot Technologies LP Has $187,000 Position in Tutor Perini Corporation $TPC

Key Points

• Quantbot Technologies LP significantly reduced its stake in Tutor Perini Corporation by 78.2%, selling 28,878 shares and now holding 8,060 shares valued at approximately $187,000.
• Several institutional investors, including GAMMA Investing LLC and CWM LLC, raised their holdings in Tutor Perini during the first quarter, indicating renewed interest in the stock.
• Tutor Perini reported a quarterly earnings per share (EPS) of $1.41, surpassing estimates and showing a 21.8% increase in revenue year-over-year.

Quantbot Technologies LP trimmed its holdings in Tutor Perini Corporation (NYSE:TPC - Free Report) by 78.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,060 shares of the construction company's stock after selling 28,878 shares during the quarter. Quantbot Technologies LP's holdings in Tutor Perini were worth $187,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in Tutor Perini by 32.5% in the 1st quarter. GAMMA Investing LLC now owns 2,080 shares of the construction company's stock valued at $48,000 after acquiring an additional 510 shares during the last quarter. New Age Alpha Advisors LLC acquired a new stake in Tutor Perini in the 1st quarter valued at about $54,000. CWM LLC lifted its holdings in Tutor Perini by 32.8% in the 1st quarter. CWM LLC now owns 3,442 shares of the construction company's stock valued at $80,000 after acquiring an additional 850 shares during the last quarter. State of Wyoming lifted its holdings in Tutor Perini by 39.7% in the 4th quarter. State of Wyoming now owns 6,212 shares of the construction company's stock valued at $150,000 after acquiring an additional 1,764 shares during the last quarter. Finally, Aigen Investment Management LP acquired a new stake in Tutor Perini in the 1st quarter valued at about $200,000. 65.01% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Chairman Ronald N. Tutor sold 130,478 shares of the stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $40.93, for a total value of $5,340,464.54. Following the transaction, the chairman owned 4,570,985 shares in the company, valued at approximately $187,090,416.05. This represents a 2.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders sold a total of 515,688 shares of company stock valued at $27,593,787 in the last 90 days. Corporate insiders own 17.30% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on TPC shares. Wall Street Zen upgraded Tutor Perini from a "buy" rating to a "strong-buy" rating in a report on Monday, August 11th. Zacks Research upgraded Tutor Perini to a "strong-buy" rating in a report on Friday, August 8th. UBS Group boosted their price objective on Tutor Perini from $59.00 to $67.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Finally, B. Riley boosted their price objective on Tutor Perini from $50.00 to $75.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $60.00.

Tutor Perini Stock Up 0.2%

Shares of TPC traded up $0.11 during trading hours on Wednesday, reaching $59.24. The company's stock had a trading volume of 53,696 shares, compared to its average volume of 673,868. The firm has a market cap of $3.12 billion, a price-to-earnings ratio of -23.52 and a beta of 1.88. Tutor Perini Corporation has a 1-year low of $18.33 and a 1-year 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 company has a 50 day moving average of $50.87 and a two-hundred day moving average of $36.27.

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 for the quarter, beating analysts' consensus estimates of $0.29 by $1.12. The company 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 firm's quarterly revenue was up 21.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.02 EPS.

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.