Tutor Perini Corporation $TPC Holdings Lifted by Empowered Funds LLC

Key Points

• Empowered Funds LLC increased its stake in Tutor Perini Corporation by 2.1%, owning approximately 288,066 shares worth $6.68 million as of its latest filing.
• In the 1st quarter, several institutional investors raised their positions in Tutor Perini, highlighting a collective ownership of 65.01% by institutional investors and hedge funds.
• Tutor Perini's latest earnings report exceeded expectations, with $1.41 EPS reported, significantly surpassing the consensus estimate of $0.29.

Empowered Funds LLC boosted its holdings in shares of Tutor Perini Corporation (NYSE:TPC - Free Report) by 2.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 288,066 shares of the construction company's stock after buying an additional 5,819 shares during the period. Empowered Funds LLC owned approximately 0.55% of Tutor Perini worth $6,677,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. GAMMA Investing LLC lifted its position 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 purchasing an additional 510 shares in the last quarter. Aristeia Capital L.L.C. increased its stake in Tutor Perini by 4.6% in the 1st quarter. Aristeia Capital L.L.C. now owns 11,957 shares of the construction company's stock valued at $277,000 after buying an additional 530 shares during the period. Comerica Bank lifted 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 worth $56,000 after buying an additional 569 shares in the last quarter. CWM LLC boosted its stake in shares of Tutor Perini by 32.8% during the 1st quarter. CWM LLC now owns 3,442 shares of the construction company's stock valued at $80,000 after buying an additional 850 shares during the period. Finally, First Wilshire Securities Management Inc. grew its holdings in shares of Tutor Perini by 0.3% during the 1st quarter. First Wilshire Securities Management Inc. now owns 264,758 shares of the construction company's stock valued at $6,137,000 after acquiring an additional 857 shares in the last quarter. 65.01% of the stock is currently owned by institutional investors and hedge funds.

Tutor Perini Stock Performance

TPC opened at $62.37 on Thursday. 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 company has a market cap of $3.29 billion, a PE ratio of -24.75 and a beta of 1.88. The stock has a 50-day moving average of $52.72 and a 200-day moving average of $37.78. Tutor Perini Corporation has a 52-week low of $18.33 and a 52-week high of $63.96.

Tutor Perini (NYSE:TPC - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The construction company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $1.12. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.27 billion. Tutor Perini had a negative net margin of 2.77% and a negative return on equity of 6.41%. Tutor Perini's quarterly revenue was up 21.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.02 EPS.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TPC. UBS Group increased their price objective on Tutor Perini from $59.00 to $67.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Wall Street Zen raised Tutor Perini from a "buy" rating to a "strong-buy" rating in a research note on Monday, August 11th. B. Riley lifted 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. Finally, Zacks Research upgraded Tutor Perini to a "strong-buy" rating in a report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $60.00.

Insider Activity

In other news, Chairman Ronald N. Tutor sold 44,312 shares of Tutor Perini 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 transaction, the chairman directly owned 4,270,985 shares in the company, valued at approximately $252,543,343.05. The trade was a 1.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold 400,000 shares of company stock valued at $23,677,555 over the last 90 days. Company 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.

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