Foundry Partners LLC Acquires 46,758 Shares of Tutor Perini Corporation (NYSE:TPC)

Foundry Partners LLC lifted its position in shares of Tutor Perini Corporation (NYSE:TPC - Free Report) by 21.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 263,844 shares of the construction company's stock after acquiring an additional 46,758 shares during the period. Foundry Partners LLC owned approximately 0.50% of Tutor Perini worth $6,116,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in TPC. GAMMA Investing LLC lifted 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 last quarter. CWM LLC lifted 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 last quarter. State of Wyoming lifted its stake in Tutor Perini by 39.7% in the 4th quarter. State of Wyoming now owns 6,212 shares of the construction company's stock valued at $150,000 after purchasing an additional 1,764 shares during the last quarter. Optimize Financial Inc bought a new position in Tutor Perini in the 4th quarter valued at approximately $221,000. Finally, KLP Kapitalforvaltning AS bought a new position in Tutor Perini in the 4th quarter valued at approximately $232,000. Institutional investors own 65.01% of the company's stock.

Tutor Perini Stock Down 1.5%

Tutor Perini stock traded down $0.78 during trading on Friday, hitting $50.11. 723,613 shares of the company were exchanged, compared to its average volume of 570,220. The business's 50 day moving average is $41.17 and its 200 day moving average is $29.62. Tutor Perini Corporation has a 52 week low of $14.50 and a 52 week high of $51.98. The company has a market capitalization of $2.64 billion, a P/E ratio of -17.40 and a beta of 1.79. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.33.

Tutor Perini (NYSE:TPC - Get Free Report) last released its earnings results on Wednesday, May 7th. The construction company reported $0.53 earnings per share for the quarter, beating analysts' consensus estimates of $0.06 by $0.47. The firm had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.08 billion. Tutor Perini had a negative net margin of 3.35% and a negative return on equity of 11.64%. The company's revenue was up 18.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.30 EPS.

Insider Buying and Selling

In other Tutor Perini news, Chairman Ronald N. Tutor sold 130,478 shares of the company's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $40.93, for a total value of $5,340,464.54. Following the completion of the transaction, the chairman directly owned 4,570,985 shares in the company, valued at approximately $187,090,416.05. This represents a 2.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Raymond R. Oneglia sold 75,000 shares of the 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 directly owned 115,470 shares of the company's stock, valued at $4,183,478.10. This represents a 39.38% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 410,000 shares of company stock valued at $15,891,651. Corporate insiders own 17.30% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on TPC shares. B. Riley reiterated a "buy" rating and issued a $50.00 price objective (up previously from $40.00) on shares of Tutor Perini in a report on Friday, June 6th. Wall Street Zen downgraded shares of Tutor Perini from a "strong-buy" rating to a "buy" rating in a research note on Friday. Finally, UBS Group raised their price target on shares of Tutor Perini from $41.00 to $59.00 and gave the company a "buy" rating in a research note on Thursday, July 10th.

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.