Universal Beteiligungs und Servicegesellschaft mbH Acquires New Holdings in Tutor Perini Corporation (NYSE:TPC)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH has acquired a new stake in Tutor Perini Corporation, purchasing 9,860 shares valued at approximately $229,000.
• Insider transactions show significant sales, with Director Raymond R. Oneglia selling 75,000 shares and Chairman Ronald N. Tutor selling 130,478 shares, indicating a 39.38% and 2.78% decrease in ownership, respectively.
• Tutor Perini's stock has shown a positive trend, with its stock price opening at $46.16, and analysts setting new price targets, raising expectations from $40 to $59 among prominent firms.

Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Tutor Perini Corporation (NYSE:TPC - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,860 shares of the construction company's stock, valued at approximately $229,000.

Other large investors have also recently made changes to their positions in the company. Foundry Partners LLC raised its position in Tutor Perini by 21.5% in the 1st quarter. Foundry Partners LLC now owns 263,844 shares of the construction company's stock worth $6,116,000 after purchasing an additional 46,758 shares during the period. Bailard Inc. bought a new stake in shares of Tutor Perini in the 1st quarter worth approximately $274,000. Victory Capital Management Inc. purchased a new stake in Tutor Perini in the first quarter worth $1,244,000. CWM LLC boosted its holdings in Tutor Perini by 32.8% in 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 in the last quarter. Finally, New York State Common Retirement Fund increased its position in shares of Tutor Perini by 8.8% during the first quarter. New York State Common Retirement Fund now owns 12,358 shares of the construction company's stock valued at $286,000 after buying an additional 1,000 shares during the period. 65.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

TPC has been the topic of a number of recent research reports. Wall Street Zen cut shares of Tutor Perini from a "strong-buy" rating to a "buy" rating in a report on Sunday. B. Riley reissued a "buy" rating and issued a $50.00 target price (up from $40.00) on shares of Tutor Perini in a research note on Friday, June 6th. Finally, UBS Group lifted their price target on Tutor Perini from $41.00 to $59.00 and gave the stock a "buy" rating in a research report on Thursday, July 10th.

Insider Buying and Selling at Tutor Perini

In other Tutor Perini news, Chairman Ronald N. Tutor sold 130,478 shares of the stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $40.93, for a total value of $5,340,464.54. Following the completion of the sale, the chairman 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 filing with the SEC, which is accessible through the SEC website. Also, Director Raymond R. Oneglia sold 25,000 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $36.14, for a total transaction of $903,500.00. Following the sale, the director directly owned 90,470 shares of the company's stock, valued at approximately $3,269,585.80. This trade represents a 21.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 410,000 shares of company stock valued at $15,891,651 in the last ninety days. 17.30% of the stock is currently owned by corporate insiders.

Tutor Perini Stock Down 0.9%

TPC stock traded down $0.45 during midday trading on Wednesday, hitting $47.21. The company's stock had a trading volume of 608,119 shares, compared to its average volume of 666,138. The company has a market cap of $2.49 billion, a PE ratio of -16.39 and a beta of 1.83. The firm's 50-day moving average is $44.06 and its 200-day moving average is $31.64. Tutor Perini Corporation has a 12 month low of $18.09 and a 12 month high of $51.98. 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 issued its earnings results on Wednesday, August 6th. The construction company reported $1.41 earnings per share for the quarter, topping analysts' consensus estimates of $0.34 by $1.07. Tutor Perini had a negative return on equity of 11.64% and a negative net margin of 3.35%.

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.