Strs Ohio Acquires Shares of 25,700 Tutor Perini Corporation $TPC

Strs Ohio bought a new stake in Tutor Perini Corporation (NYSE:TPC - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 25,700 shares of the construction company's stock, valued at approximately $596,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. GAMMA Investing LLC grew its position in shares of Tutor Perini by 32.5% in the first quarter. GAMMA Investing LLC now owns 2,080 shares of the construction company's stock valued at $48,000 after purchasing an additional 510 shares during the last quarter. New Age Alpha Advisors LLC bought a new stake in Tutor Perini in the first quarter valued at about $54,000. Comerica Bank boosted its position in shares of Tutor Perini by 30.7% in the 1st quarter. Comerica Bank now owns 2,423 shares of the construction company's stock worth $56,000 after purchasing an additional 569 shares during the last quarter. CWM LLC grew its stake in Tutor Perini by 32.8% in the first quarter. CWM LLC now owns 3,442 shares of the construction company's stock valued at $80,000 after purchasing an additional 850 shares in the last quarter. Finally, AlphaQuest LLC increased its stake in Tutor Perini by 849.2% in the first quarter. AlphaQuest LLC now owns 3,436 shares of the construction company's stock valued at $80,000 after acquiring an additional 3,074 shares during the last quarter. 65.01% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In related news, Chairman Ronald N. Tutor sold 116,856 shares of Tutor Perini stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $64.21, for a total transaction of $7,503,323.76. Following the sale, the chairman directly owned 4,154,129 shares of the company's stock, valued at $266,736,623.09. This trade represents a 2.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sidney J. Feltenstein sold 124,668 shares of the firm's stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $65.96, for a total transaction of $8,223,101.28. Following the completion of the transaction, the director directly owned 187,274 shares in the company, valued at $12,352,593.04. This trade represents a 39.97% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 725,000 shares of company stock worth $44,824,931. Corporate insiders own 17.30% of the company's stock.

Tutor Perini Price Performance

Shares of NYSE:TPC opened at $65.48 on Friday. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.32. Tutor Perini Corporation has a 12 month low of $18.33 and a 12 month high of $66.74. The company has a 50 day moving average of $55.04 and a 200 day moving average of $39.70. The stock has a market cap of $3.45 billion, a P/E ratio of -25.98 and a beta of 1.88.

Tutor Perini (NYSE:TPC - Get Free Report) last released its earnings results on Wednesday, August 6th. The construction company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $1.12. The firm had revenue of $1.37 billion during the quarter, compared to analysts' expectations 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 revenue was up 21.8% on a year-over-year basis. During the same quarter last year, the business posted $0.02 earnings per share.

Tutor Perini 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.

Want to see what other hedge funds are holding TPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tutor Perini Corporation (NYSE:TPC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.