Trexquant Investment LP Makes New Investment in Tutor Perini Corporation $TPC

Key Points

• Trexquant Investment LP acquired 29,524 shares of Tutor Perini Corporation, representing an investment of approximately $684,000 and marking their new stake in the construction company.
• Multiple institutional investors increased their holdings in Tutor Perini during the 1st quarter, with notable increases from Comerica Bank and Mirova, enhancing overall institutional ownership to 65.01%.
• Analysts have been bullish on Tutor Perini, with upgraded ratings and target prices, including a raised price target from UBS Group from $59.00 to $67.00, highlighting strong investor confidence.

Trexquant Investment LP bought a new stake in Tutor Perini Corporation (NYSE:TPC - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 29,524 shares of the construction company's stock, valued at approximately $684,000. Trexquant Investment LP owned approximately 0.06% of Tutor Perini as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Comerica Bank increased its position in Tutor Perini by 30.7% in the 1st quarter. Comerica Bank now owns 2,423 shares of the construction company's stock valued at $56,000 after acquiring an additional 569 shares in the last quarter. Mirova increased its position in Tutor Perini by 27.2% in the 1st quarter. Mirova now owns 71,438 shares of the construction company's stock valued at $1,656,000 after acquiring an additional 15,268 shares in the last quarter. Jump Financial LLC acquired a new stake in Tutor Perini in the 1st quarter valued at about $419,000. Hotchkis & Wiley Capital Management LLC increased its position in Tutor Perini by 1.3% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 262,269 shares of the construction company's stock valued at $6,079,000 after acquiring an additional 3,350 shares in the last quarter. Finally, Brightline Capital Management LLC raised its holdings in Tutor Perini by 24.7% during the 1st quarter. Brightline Capital Management LLC now owns 702,000 shares of the construction company's stock worth $16,272,000 after purchasing an additional 139,000 shares during the last quarter. Institutional investors and hedge funds own 65.01% of the company's stock.

Insider Activity at Tutor Perini

In other news, Chairman Ronald N. Tutor sold 44,312 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $59.13, for a total value of $2,620,168.56. Following the completion of the sale, the chairman owned 4,270,985 shares of the company's stock, valued at approximately $252,543,343.05. This represents a 1.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders sold 560,000 shares of company stock valued at $30,213,955. Corporate insiders own 17.30% of the company's stock.

Analyst Upgrades and Downgrades

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

Tutor Perini Price Performance

NYSE TPC opened at $62.54 on Monday. The business has a 50 day simple moving average of $51.83 and a 200 day simple moving average of $37.05. Tutor Perini Corporation has a 52-week low of $18.33 and a 52-week high of $63.96. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.32 and a current ratio of 1.32. The stock has a market cap of $3.30 billion, a price-to-earnings ratio of -24.82 and a beta of 1.88.

Tutor Perini (NYSE:TPC - Get Free Report) last posted its earnings results on Wednesday, August 6th. The construction company reported $1.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.29 by $1.12. The business 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%.Tutor Perini's revenue for the quarter was up 21.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.02 EPS.

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.

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