53,680 Shares in Tutor Perini Corporation (NYSE:TPC) Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. acquired a new position in Tutor Perini Corporation (NYSE:TPC - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 53,680 shares of the construction company's stock, valued at approximately $1,244,000. Victory Capital Management Inc. owned approximately 0.10% of Tutor Perini as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. GAMMA Investing LLC raised its position in shares of Tutor Perini by 32.5% during 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 period. CWM LLC raised its holdings in Tutor Perini by 32.8% during the 1st quarter. CWM LLC now owns 3,442 shares of the construction company's stock worth $80,000 after buying an additional 850 shares during the period. State of Wyoming raised its holdings in Tutor Perini by 39.7% during the 4th quarter. State of Wyoming now owns 6,212 shares of the construction company's stock worth $150,000 after buying an additional 1,764 shares during the period. Optimize Financial Inc purchased a new stake in Tutor Perini during the fourth quarter valued at about $221,000. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Tutor Perini in the fourth quarter worth about $232,000. Institutional investors and hedge funds own 65.01% of the company's stock.

Tutor Perini Stock Down 5.1%

Shares of TPC traded down $2.44 during trading hours on Friday, reaching $45.71. The company's stock had a trading volume of 695,252 shares, compared to its average volume of 667,871. The company has a 50 day moving average of $43.40 and a two-hundred day moving average of $31.05. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.33. The firm has a market cap of $2.41 billion, a price-to-earnings ratio of -15.87 and a beta of 1.79. Tutor Perini Corporation has a 1-year low of $14.50 and a 1-year high of $51.98.

Tutor Perini (NYSE:TPC - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The construction company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.47. The firm had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.08 billion. Tutor Perini had a negative net margin of 3.35% and a negative return on equity of 11.64%. The company's revenue for the quarter was up 18.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.30 EPS.

Insiders Place Their Bets

In related news, Director Raymond R. Oneglia sold 25,000 shares of the stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $36.14, for a total value of $903,500.00. Following the transaction, the director owned 90,470 shares in the company, valued at approximately $3,269,585.80. This represents a 21.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Ronald N. Tutor sold 130,478 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The stock was 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 represents a 2.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 410,000 shares of company stock valued at $15,891,651. Insiders own 17.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on TPC shares. Wall Street Zen upgraded shares of Tutor Perini from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 26th. UBS Group lifted their price objective on shares of Tutor Perini from $41.00 to $59.00 and gave the stock a "buy" rating in a research report on Thursday, July 10th. Finally, B. Riley restated a "buy" rating and issued a $50.00 target price (up previously from $40.00) on shares of Tutor Perini in a report on Friday, June 6th.

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.