Deutsche Bank AG Boosts Stock Position in Tutor Perini Co. (NYSE:TPC)

Deutsche Bank AG lifted its stake in shares of Tutor Perini Co. (NYSE:TPC - Free Report) by 34.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,285 shares of the construction company's stock after acquiring an additional 12,296 shares during the quarter. Deutsche Bank AG owned 0.09% of Tutor Perini worth $1,168,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of TPC. EP Wealth Advisors LLC increased its stake in 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 acquiring an additional 1,680 shares during the period. Captrust Financial Advisors bought a new stake in shares of Tutor Perini in the 4th quarter valued at $251,000. Balyasny Asset Management L.P. increased its position in shares of Tutor Perini by 406.8% in the 4th quarter. Balyasny Asset Management L.P. now owns 71,851 shares of the construction company's stock valued at $1,739,000 after buying an additional 57,673 shares in the last quarter. Bank of America Corp DE increased its holdings in Tutor Perini by 25.0% during the 4th quarter. Bank of America Corp DE now owns 206,941 shares of the construction company's stock worth $5,008,000 after purchasing an additional 41,451 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of Tutor Perini by 8.8% in the 4th quarter. Ameriprise Financial Inc. now owns 211,843 shares of the construction company's stock valued at $5,127,000 after acquiring an additional 17,217 shares in the last quarter. Hedge funds and other institutional investors own 65.01% of the company's stock.

Tutor Perini Trading Down 0.8%

Shares of NYSE:TPC traded down $0.29 on Friday, hitting $36.89. The company had a trading volume of 30,094 shares, compared to its average volume of 548,247. Tutor Perini Co. has a 1 year low of $14.50 and a 1 year high of $37.77. The firm has a market capitalization of $1.94 billion, a price-to-earnings ratio of -14.70 and a beta of 1.62. The firm's 50-day simple moving average is $26.22 and its two-hundred day simple moving average is $25.58. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.53.

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

Analyst Ratings Changes

Several brokerages have issued reports on TPC. B. Riley upgraded shares of Tutor Perini to a "strong-buy" rating in a research report on Tuesday, March 18th. UBS Group boosted their price objective on shares of Tutor Perini from $40.00 to $41.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Finally, Wall Street Zen upgraded shares of Tutor Perini from a "hold" rating to a "buy" rating in a report on Thursday, May 8th.

Insider Activity

In related news, Director Raymond R. Oneglia sold 75,000 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $36.23, for a total value of $2,717,250.00. Following the completion of the transaction, the director now directly owns 115,470 shares of the company's stock, valued at $4,183,478.10. This represents a 39.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 17.30% of the company's stock.

About Tutor Perini

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.