Squarepoint Ops LLC Boosts Stake in Tutor Perini Co. (NYSE:TPC)

Squarepoint Ops LLC increased its stake in shares of Tutor Perini Co. (NYSE:TPC - Free Report) by 107.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,865 shares of the construction company's stock after buying an additional 12,903 shares during the quarter. Squarepoint Ops LLC's holdings in Tutor Perini were worth $602,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Commonwealth Equity Services LLC grew its holdings in shares of Tutor Perini by 7.3% during the fourth quarter. Commonwealth Equity Services LLC now owns 10,291 shares of the construction company's stock valued at $249,000 after buying an additional 700 shares during the last quarter. Sterling Capital Management LLC grew its holdings in shares of Tutor Perini by 7.0% during the fourth quarter. Sterling Capital Management LLC now owns 18,836 shares of the construction company's stock valued at $456,000 after buying an additional 1,235 shares during the last quarter. Gotham Asset Management LLC grew its holdings in shares of Tutor Perini by 4.3% during the fourth quarter. Gotham Asset Management LLC now owns 38,684 shares of the construction company's stock valued at $936,000 after buying an additional 1,609 shares during the last quarter. EP Wealth Advisors LLC grew its holdings in shares of Tutor Perini by 19.5% during the fourth quarter. EP Wealth Advisors LLC now owns 10,294 shares of the construction company's stock valued at $249,000 after buying an additional 1,680 shares during the last quarter. Finally, State of Wyoming grew its holdings in shares of Tutor Perini by 39.7% during the fourth quarter. State of Wyoming now owns 6,212 shares of the construction company's stock valued at $150,000 after buying an additional 1,764 shares during the last quarter. 65.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TPC. Wall Street Zen raised shares of Tutor Perini from a "hold" rating to a "buy" rating in a report on Thursday, May 8th. B. Riley restated a "buy" rating and set a $50.00 target price (up from $40.00) on shares of Tutor Perini in a research report on Friday. Finally, UBS Group boosted their target price on shares of Tutor Perini from $40.00 to $41.00 and gave the company a "buy" rating in a research report on Friday, May 9th.

Insiders Place Their Bets

In related news, Director Raymond R. Oneglia sold 75,000 shares of the firm's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $36.23, for a total value of $2,717,250.00. Following the transaction, the director now directly owns 115,470 shares of the company's stock, valued at approximately $4,183,478.10. This trade represents a 39.38% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Ronald N. Tutor sold 50,000 shares of the firm's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $37.45, for a total transaction of $1,872,500.00. Following the completion of the transaction, the chairman now directly owns 1,011,477 shares in the company, valued at $37,879,813.65. This represents a 4.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 250,000 shares of company stock worth $9,355,250. Company insiders own 17.30% of the company's stock.

Tutor Perini Stock Performance

NYSE TPC traded up $1.65 on Friday, reaching $40.54. 1,340,702 shares of the company's stock traded hands, compared to its average volume of 548,663. The firm has a market cap of $2.14 billion, a price-to-earnings ratio of -16.15 and a beta of 1.74. The stock has a 50 day moving average price of $27.94 and a 200-day moving average price of $25.99. Tutor Perini Co. has a fifty-two week low of $14.50 and a fifty-two week high of $40.73. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.55 and a current ratio of 1.55.

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

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.