Voloridge Investment Management LLC Makes New Investment in Tutor Perini Co. (NYSE:TPC)

Voloridge Investment Management LLC bought a new position in shares of Tutor Perini Co. (NYSE:TPC - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 33,930 shares of the construction company's stock, valued at approximately $821,000. Voloridge Investment Management LLC owned 0.06% of Tutor Perini at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Commonwealth Equity Services LLC grew its stake in Tutor Perini by 7.3% during the fourth quarter. Commonwealth Equity Services LLC now owns 10,291 shares of the construction company's stock worth $249,000 after buying an additional 700 shares during the last quarter. Sterling Capital Management LLC boosted its holdings in shares of Tutor Perini by 7.0% in the 4th quarter. Sterling Capital Management LLC now owns 18,836 shares of the construction company's stock worth $456,000 after acquiring an additional 1,235 shares in the last quarter. Gotham Asset Management LLC boosted its holdings in shares of Tutor Perini by 4.3% in the 4th quarter. Gotham Asset Management LLC now owns 38,684 shares of the construction company's stock worth $936,000 after acquiring an additional 1,609 shares in the last quarter. EP Wealth Advisors LLC grew its position in Tutor Perini by 19.5% during the 4th quarter. EP Wealth Advisors LLC now owns 10,294 shares of the construction company's stock worth $249,000 after acquiring an additional 1,680 shares during the last quarter. Finally, State of Wyoming increased 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 valued at $150,000 after purchasing an additional 1,764 shares in the last quarter. Institutional investors own 65.01% of the company's stock.

Tutor Perini Trading Down 0.6%

TPC traded down $0.24 during mid-day trading on Friday, reaching $36.94. The stock had a trading volume of 475,948 shares, compared to its average volume of 546,205. The firm's fifty day simple moving average is $26.44 and its two-hundred day simple moving average is $25.63. The stock has a market capitalization of $1.95 billion, a P/E ratio of -14.72 and a beta of 1.62. Tutor Perini Co. has a 52 week low of $14.50 and a 52 week high of $37.77. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.55 and a current ratio of 1.55.

Tutor Perini (NYSE:TPC - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The construction company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.47. The business had revenue of $1.25 billion for the quarter, compared to analysts' expectations of $1.08 billion. Tutor Perini had a negative return on equity of 9.56% and a negative net margin of 3.08%. The firm's quarterly revenue was up 18.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.30 earnings per share.

Insider Buying and Selling

In other news, Director Raymond R. Oneglia sold 75,000 shares of the firm's stock in a transaction on 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 $4,183,478.10. This trade represents a 39.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 17.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have commented on TPC. UBS Group boosted their price objective on Tutor Perini from $40.00 to $41.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Wall Street Zen upgraded shares of Tutor Perini from a "hold" rating to a "buy" rating in a research report on Thursday, May 8th. Finally, B. Riley raised shares of Tutor Perini to a "strong-buy" rating in a report on Tuesday, March 18th.

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.