Vanguard Group Inc. Purchases 130,747 Shares of Tutor Perini Corporation $TPC

Key Points

• Vanguard Group Inc. has increased its stake in Tutor Perini Corporation to approximately $65.59 million, owning about 5.37% of the company's shares after purchasing an additional 130,747 shares in the first quarter.
• Analysts have rated Tutor Perini with a mix of ratings, including a "strong-buy" from Zacks Research, and raised price targets, with B. Riley increasing theirs from $50.00 to $75.00.
• In recent trading, Tutor Perini's stock rose by 0.9%, reaching a price of $59.02, marking a notable increase compared to its recent low of $18.33.

Vanguard Group Inc. raised its holdings in Tutor Perini Corporation (NYSE:TPC - Free Report) by 4.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,829,370 shares of the construction company's stock after acquiring an additional 130,747 shares during the quarter. Vanguard Group Inc. owned 5.37% of Tutor Perini worth $65,585,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of TPC. GAMMA Investing LLC lifted its holdings in Tutor Perini by 32.5% in the 1st quarter. GAMMA Investing LLC now owns 2,080 shares of the construction company's stock valued at $48,000 after acquiring an additional 510 shares during the last quarter. New Age Alpha Advisors LLC acquired a new stake in Tutor Perini in the 1st quarter valued at about $54,000. CWM LLC lifted its holdings in Tutor Perini by 32.8% in the 1st 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. State of Wyoming lifted its holdings in Tutor Perini by 39.7% in the 4th quarter. State of Wyoming now owns 6,212 shares of the construction company's stock valued at $150,000 after acquiring an additional 1,764 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Tutor Perini in the 1st quarter valued at about $229,000. 65.01% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TPC. Wall Street Zen raised shares of Tutor Perini from a "buy" rating to a "strong-buy" rating in a report on Monday, August 11th. B. Riley boosted their price objective on Tutor Perini from $50.00 to $75.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Zacks Research upgraded Tutor Perini to a "strong-buy" rating in a report on Friday, August 8th. Finally, UBS Group boosted 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. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. Based on data from MarketBeat.com, Tutor Perini presently has an average rating of "Buy" and a consensus target price of $60.00.

Insider Transactions at Tutor Perini

In other Tutor Perini news, Chairman Ronald N. Tutor sold 106,832 shares of the firm's stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $59.06, for a total value of $6,309,497.92. Following the sale, the chairman owned 4,395,957 shares of the company's stock, valued at $259,625,220.42. This trade represents a 2.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Over the last quarter, insiders sold 585,028 shares of company stock valued at $28,492,720. Company insiders own 17.30% of the company's stock.

Tutor Perini Stock Down 0.4%

NYSE:TPC traded down $0.24 on Wednesday, hitting $58.75. 328,128 shares of the company's stock traded hands, compared to its average volume of 680,017. The firm has a 50-day moving average price of $49.18 and a 200-day moving average price of $35.03. 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 Corporation has a 1 year low of $18.33 and a 1 year high of $63.96. The company has a market cap of $3.10 billion, a PE ratio of -23.31 and a beta of 1.83.

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

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.