Tutor Perini Corporation $TPC Shares Purchased 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 grew its stake in shares of Tutor Perini Corporation (NYSE:TPC - Free Report) by 2.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 288,066 shares of the construction company's stock after buying an additional 5,819 shares during the quarter. Empowered Funds LLC owned approximately 0.55% of Tutor Perini worth $6,677,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TPC. GAMMA Investing LLC grew its stake 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 during the last quarter. Aristeia Capital L.L.C. boosted its position in Tutor Perini by 4.6% during the first quarter. Aristeia Capital L.L.C. now owns 11,957 shares of the construction company's stock valued at $277,000 after acquiring an additional 530 shares during the last quarter. Comerica Bank boosted its position in Tutor Perini by 30.7% during the first quarter. Comerica Bank now owns 2,423 shares of the construction company's stock valued at $56,000 after acquiring an additional 569 shares during the last quarter. CWM LLC boosted its position in Tutor Perini by 32.8% during the first quarter. CWM LLC now owns 3,442 shares of the construction company's stock valued at $80,000 after acquiring an additional 850 shares during the last quarter. Finally, First Wilshire Securities Management Inc. raised its holdings in shares of Tutor Perini by 0.3% during the first quarter. First Wilshire Securities Management Inc. now owns 264,758 shares of the construction company's stock valued at $6,137,000 after purchasing an additional 857 shares during the period. Institutional investors own 65.01% of the company's stock.

Tutor Perini Stock Performance

Tutor Perini stock traded down $0.73 during midday trading on Tuesday, reaching $63.49. 91,879 shares of the company traded hands, compared to its average volume of 667,096. The business has a 50 day moving average of $53.67 and a two-hundred day moving average of $38.76. The firm has a market capitalization of $3.35 billion, a price-to-earnings ratio of -25.19 and a beta of 1.88. Tutor Perini Corporation has a 12 month low of $18.33 and a 12 month high of $65.60. 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 (NYSE:TPC - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $1.37 billion for 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%. The company's revenue was up 21.8% on a year-over-year basis. During the same period last year, the firm earned $0.02 EPS.

Wall Street Analysts Forecast Growth

TPC has been the topic of several research reports. Zacks Research upgraded shares of Tutor Perini to a "strong-buy" rating in a report on Friday, August 8th. UBS Group increased their target price on shares of Tutor Perini from $59.00 to $67.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Wall Street Zen upgraded shares of Tutor Perini from a "buy" rating to a "strong-buy" rating in a research note on Monday, August 11th. Finally, B. Riley raised their price target on shares of Tutor Perini from $50.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $60.00.

Insider Transactions at Tutor Perini

In other Tutor Perini news, Chairman Ronald N. Tutor sold 44,312 shares of the business's stock in a transaction dated Wednesday, September 3rd. The shares were 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 of the company's stock, valued at $252,543,343.05. The trade was a 1.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders have sold 400,000 shares of company stock valued at $23,677,555. 17.30% of the stock is owned by insiders.

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.