EntryPoint Capital LLC Cuts Stake in Tutor Perini Corporation $TPC

Key Points

• EntryPoint Capital LLC reduced its stake in Tutor Perini Corporation by 69.1%, now holding 11,325 shares valued at approximately $263,000.
• Tutor Perini received several positive upgrades from various research firms, with Zacks Research rating it a "strong-buy" and UBS increasing its price target from $59.00 to $67.00.
• The company reported strong quarterly results with $1.41 EPS, significantly surpassing expectations of $0.29, and revenue growth of 21.8% year-over-year.

EntryPoint Capital LLC decreased its position in Tutor Perini Corporation (NYSE:TPC - Free Report) by 69.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,325 shares of the construction company's stock after selling 25,337 shares during the period. EntryPoint Capital LLC's holdings in Tutor Perini were worth $263,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Donald Smith & CO. Inc. grew its position in Tutor Perini by 16.8% during 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 purchasing an additional 580,963 shares during the last quarter. Vanguard Group Inc. grew its position in Tutor Perini by 4.8% during the 1st quarter. Vanguard Group Inc. now owns 2,829,370 shares of the construction company's stock valued at $65,585,000 after purchasing an additional 130,747 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Tutor Perini by 6.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,825,350 shares of the construction company's stock valued at $68,373,000 after purchasing an additional 170,440 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Tutor Perini by 5.8% during 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 purchasing an additional 148,425 shares during the last quarter. Finally, Fred Alger Management LLC grew its position in Tutor Perini by 91.9% during the 4th quarter. Fred Alger Management LLC now owns 1,133,014 shares of the construction company's stock valued at $27,419,000 after purchasing an additional 542,647 shares during the last quarter. 65.01% of the stock is owned by hedge funds and other institutional investors.

Tutor Perini Stock Performance

Tutor Perini stock traded up $0.50 during midday trading on Tuesday, hitting $59.02. The stock had a trading volume of 558,534 shares, compared to its average volume of 682,183. The firm's fifty day moving average is $48.85 and its two-hundred day moving average is $34.78. The company has a market capitalization of $3.11 billion, a PE ratio of -23.42 and a beta of 1.83. Tutor Perini Corporation has a 52-week low of $18.33 and a 52-week high of $63.96. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.32.

Tutor Perini (NYSE:TPC - Get Free Report) last released its earnings results 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 company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.27 billion. Tutor Perini had a negative net margin of 2.77% and a negative return on equity of 6.41%. The firm's quarterly revenue was up 21.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.02 EPS.

Insider Transactions at Tutor Perini

In other Tutor Perini news, Chairman Ronald N. Tutor sold 130,478 shares of the stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $40.93, for a total transaction of $5,340,464.54. Following the completion of the sale, the chairman directly owned 4,570,985 shares of the company's stock, valued at $187,090,416.05. This trade represents a 2.78% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders have sold 310,000 shares of company stock worth $12,270,901. Company insiders own 17.30% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on TPC. B. Riley upped their target price on shares of Tutor Perini from $50.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. UBS Group upped their target price on shares of Tutor Perini from $59.00 to $67.00 and gave the company a "buy" rating in a research note 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, Zacks Research raised shares of Tutor Perini to a "strong-buy" rating in a research report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. According to data from MarketBeat.com, Tutor Perini has an average rating of "Buy" and an average price target of $60.00.

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.