Two Sigma Investments LP increased its position in Tutor Perini Co. (NYSE:TPC - Free Report) by 110.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,810 shares of the construction company's stock after purchasing an additional 25,076 shares during the period. Two Sigma Investments LP owned approximately 0.09% of Tutor Perini worth $1,157,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Donald Smith & CO. Inc. increased its position in shares of Tutor Perini by 5.5% during the 4th quarter. Donald Smith & CO. Inc. now owns 3,450,257 shares of the construction company's stock valued at $83,496,000 after purchasing an additional 179,819 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Tutor Perini by 6.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,825,350 shares of the construction company's stock worth $68,373,000 after acquiring an additional 170,440 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Tutor Perini by 5.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,726,545 shares of the construction company's stock worth $65,982,000 after acquiring an additional 148,425 shares in the last quarter. Fred Alger Management LLC increased its holdings in Tutor Perini by 91.9% in the 4th quarter. Fred Alger Management LLC now owns 1,133,014 shares of the construction company's stock worth $27,419,000 after acquiring an additional 542,647 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in Tutor Perini by 74.6% in the 4th quarter. First Trust Advisors LP now owns 938,478 shares of the construction company's stock worth $22,711,000 after acquiring an additional 401,117 shares in the last quarter. Institutional investors own 65.01% of the company's stock.
Insider Activity at Tutor Perini
In other news, Chairman Ronald N. Tutor sold 50,000 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $37.45, for a total transaction of $1,872,500.00. Following the completion of the transaction, the chairman now directly owns 1,011,477 shares in the company, valued at approximately $37,879,813.65. This represents a 4.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Raymond R. Oneglia sold 75,000 shares of the stock in a transaction dated 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 transaction, the director now directly owns 115,470 shares in the company, valued at approximately $4,183,478.10. The trade was a 39.38% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 250,000 shares of company stock valued at $9,355,250. 17.30% of the stock is owned by insiders.
Tutor Perini Stock Up 4.3%
Shares of TPC stock traded up $1.65 during trading hours on Friday, reaching $40.54. 1,340,702 shares of the company's stock were exchanged, compared to its average volume of 548,663. Tutor Perini Co. has a 1 year low of $14.50 and a 1 year high of $40.73. The stock has a market cap of $2.14 billion, a PE ratio of -16.15 and a beta of 1.74. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.53. The stock's fifty day moving average price is $27.94 and its two-hundred day moving average price is $25.99.
Tutor Perini (NYSE:TPC - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The construction company reported $0.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.06 by $0.47. The company had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.08 billion. Tutor Perini had a negative return on equity of 9.56% and a negative net margin of 3.08%. Tutor Perini's revenue for the quarter was up 18.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.30 earnings per share.
Analyst Ratings Changes
Several research analysts have weighed in on the company. UBS Group upped their price target on Tutor Perini from $40.00 to $41.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. B. Riley restated a "buy" rating and issued a $50.00 price target (up from $40.00) on shares of Tutor Perini in a research note on Friday. Finally, Wall Street Zen upgraded Tutor Perini from a "hold" rating to a "buy" rating in a research note on Thursday, May 8th.
View Our Latest Analysis on TPC
About Tutor Perini
(
Free Report)
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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