Trexquant Investment LP Takes Position 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 purchased a new stake in Tutor Perini Corporation (NYSE:TPC - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 29,524 shares of the construction company's stock, valued at approximately $684,000. Trexquant Investment LP owned about 0.06% of Tutor Perini as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Donald Smith & CO. Inc. lifted its stake in shares of Tutor Perini by 16.8% in the 1st quarter. Donald Smith & CO. Inc. now owns 4,031,220 shares of the construction company's stock valued at $93,444,000 after acquiring an additional 580,963 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Tutor Perini by 4.8% in the 1st quarter. Vanguard Group Inc. now owns 2,829,370 shares of the construction company's stock valued at $65,585,000 after acquiring an additional 130,747 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Tutor Perini by 5.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,726,545 shares of the construction company's stock valued at $65,982,000 after acquiring an additional 148,425 shares during the last quarter. Boston Partners increased its holdings in Tutor Perini by 53.3% in the first quarter. Boston Partners now owns 928,264 shares of the construction company's stock valued at $21,509,000 after purchasing an additional 322,814 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its holdings in Tutor Perini by 1.1% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 792,035 shares of the construction company's stock valued at $19,167,000 after purchasing an additional 8,639 shares during the period. 65.01% of the stock is currently owned by institutional investors.

Tutor Perini Stock Up 1.7%

Shares of Tutor Perini stock traded up $1.07 during trading on Friday, reaching $63.96. 617,677 shares of the company traded hands, compared to its average volume of 516,865. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.32 and a quick ratio of 1.32. Tutor Perini Corporation has a 1-year low of $18.33 and a 1-year high of $65.00. The company has a 50 day moving average price of $53.35 and a 200-day moving average price of $38.25. The firm has a market capitalization of $3.37 billion, a PE ratio of -25.38 and a beta of 1.88.

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 the consensus estimate of $0.29 by $1.12. The company had revenue of $1.37 billion during 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% compared to the same quarter last year. During the same period last year, the business posted $0.02 EPS.

Analysts Set New Price Targets

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

Insider Activity at Tutor Perini

In other news, Chairman Ronald N. Tutor sold 44,312 shares of the firm's stock in a transaction dated 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 directly owned 4,270,985 shares in the company, valued at $252,543,343.05. This trade represents a 1.03% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In the last three months, insiders sold 400,000 shares of company stock valued at $23,677,555. Company insiders own 17.30% of the company's stock.

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.