25,700 Shares in Tutor Perini Corporation $TPC Purchased by Strs Ohio

Key Points

• Strs Ohio has acquired 25,700 shares of Tutor Perini Corporation valued at approximately $596,000, highlighting renewed interest in the construction company during the first quarter.
• Several institutional investors have increased their stakes in Tutor Perini, with hedge funds owning 65.01% of the stock, demonstrating a significant accumulation trend.
• Analysts have boosted their price targets for Tutor Perini, with a new high of $75.00 from B. Riley, indicating a positive outlook and multiple "buy" ratings from various firms.

Strs Ohio bought a new position in Tutor Perini Corporation (NYSE:TPC - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 25,700 shares of the construction company's stock, valued at approximately $596,000.

Other institutional investors and hedge funds have also modified their holdings of the company. GAMMA Investing LLC grew its holdings 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 worth $48,000 after acquiring an additional 510 shares during the period. New Age Alpha Advisors LLC bought a new stake in shares of Tutor Perini in the first quarter worth $54,000. Comerica Bank grew its holdings in shares of Tutor Perini by 30.7% in the first quarter. Comerica Bank now owns 2,423 shares of the construction company's stock worth $56,000 after acquiring an additional 569 shares during the period. AlphaQuest LLC grew its holdings in shares of Tutor Perini by 849.2% in the first quarter. AlphaQuest LLC now owns 3,436 shares of the construction company's stock worth $80,000 after acquiring an additional 3,074 shares during the period. Finally, CWM LLC grew its holdings in shares of Tutor Perini by 32.8% in the first quarter. CWM LLC now owns 3,442 shares of the construction company's stock worth $80,000 after acquiring an additional 850 shares during the period. Institutional investors own 65.01% of the company's stock.

Tutor Perini Price Performance

Shares of NYSE:TPC traded up $0.31 during mid-day trading on Tuesday, reaching $67.12. The stock had a trading volume of 184,873 shares, compared to its average volume of 668,032. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.32. The company has a market cap of $3.54 billion, a P/E ratio of -26.63 and a beta of 1.88. Tutor Perini Corporation has a 1 year low of $18.33 and a 1 year high of $68.09. The business's 50 day moving average price is $55.40 and its 200 day moving average price is $40.07.

Tutor Perini (NYSE:TPC - Get Free Report) last posted its earnings results on Wednesday, August 6th. The construction company reported $1.41 EPS for the quarter, topping 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 revenue for the quarter was up 21.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.02 earnings per share.

Insiders Place Their Bets

In other news, Director Sidney J. Feltenstein sold 124,668 shares of the firm's stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $65.96, for a total transaction of $8,223,101.28. Following the sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Ronald N. Tutor sold 116,856 shares of the firm's stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $64.21, for a total value of $7,503,323.76. Following the sale, the chairman owned 4,154,129 shares in the company, valued at $266,736,623.09. This trade represents a 2.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 725,000 shares of company stock valued at $44,824,931 in the last 90 days. 17.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on TPC. Zacks Research raised Tutor Perini to a "strong-buy" rating in a report on Friday, August 8th. Wall Street Zen raised Tutor Perini from a "buy" rating to a "strong-buy" rating in a report on Monday, August 11th. UBS Group boosted their price target on Tutor Perini from $59.00 to $67.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Finally, B. Riley boosted their price target on Tutor Perini from $50.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, August 7th. One equities research 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, Tutor Perini has an average rating of "Buy" and an average target price of $60.00.

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.