Tutor Perini Corporation $TPC Stake Decreased by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. has decreased its holdings in Tutor Perini Corporation by 12.7% to 272,794 shares, valued at approximately $6.3 million, following a sell-off of 39,545 shares.
• Several institutional investors, including GAMMA Investing LLC and CWM LLC, have increased their stakes in Tutor Perini, with GAMMA adding 32.5% and CWM increasing by 32.8% during the same period.
• Equities analysts are optimistic about Tutor Perini's outlook, with multiple firms upgrading their ratings to "buy" or "strong-buy" and raising price targets significantly, indicating a consensus rating of "buy".

Russell Investments Group Ltd. lowered its holdings in Tutor Perini Corporation (NYSE:TPC - Free Report) by 12.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 272,794 shares of the construction company's stock after selling 39,545 shares during the period. Russell Investments Group Ltd. owned about 0.52% of Tutor Perini worth $6,323,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. SG Americas Securities LLC purchased a new position in Tutor Perini in the first quarter valued at about $965,000. GAMMA Investing LLC boosted its stake in Tutor Perini by 32.5% during 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. Bank of New York Mellon Corp boosted its stake in Tutor Perini by 7.6% during the 1st quarter. Bank of New York Mellon Corp now owns 127,546 shares of the construction company's stock valued at $2,957,000 after acquiring an additional 9,001 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Tutor Perini by 75.1% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,363 shares of the construction company's stock valued at $542,000 after acquiring an additional 10,018 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its stake in Tutor Perini by 8.8% in the fourth quarter. Ameriprise Financial Inc. now owns 211,843 shares of the construction company's stock worth $5,127,000 after purchasing an additional 17,217 shares in the last quarter. Hedge funds and other institutional investors own 65.01% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on TPC. Zacks Research upgraded Tutor Perini to a "strong-buy" rating in a research note on Friday, August 8th. B. Riley lifted their price target on Tutor Perini from $50.00 to $75.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. UBS Group lifted their price target on Tutor Perini from $59.00 to $67.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Finally, Wall Street Zen upgraded Tutor Perini from a "buy" rating to a "strong-buy" rating in a research note on Monday, August 11th. One analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $60.00.

Tutor Perini Stock Performance

TPC stock traded up $1.4810 during midday trading on Friday, reaching $58.5010. The company had a trading volume of 611,870 shares, compared to its average volume of 775,285. 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 stock has a 50 day moving average price of $48.52 and a 200 day moving average price of $34.47. Tutor Perini Corporation has a fifty-two week low of $18.33 and a fifty-two week high of $63.96. The firm has a market capitalization of $3.09 billion, a PE ratio of -23.21 and a beta of 1.83.

Tutor Perini (NYSE:TPC - Get Free Report) last issued its earnings results on Wednesday, August 6th. The construction company reported $1.41 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the previous year, the firm posted $0.02 earnings per share. Tutor Perini's quarterly revenue was up 21.8% compared to the same quarter last year.

Insider Buying and Selling

In other Tutor Perini news, Chairman Ronald N. Tutor sold 130,478 shares of Tutor Perini 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 completion of the transaction, the chairman directly owned 4,570,985 shares in the company, valued at $187,090,416.05. The trade was a 2.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold 310,000 shares of company stock valued at $12,270,901 in the last three months. Insiders own 17.30% of the company's stock.

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.