Voya Investment Management LLC Raises Stock Position in Tutor Perini Corporation $TPC

Key Points

• Voya Investment Management LLC increased its stake in Tutor Perini Corporation by 70.0%, owning a total of 22,573 shares valued at $523,000 as of the latest SEC filing.
• Several institutional investors, including GAMMA Investing LLC and AlphaQuest LLC, have also raised their positions in Tutor Perini during the first quarter, demonstrating increased institutional interest in the company.
• Tutor Perini's stock has received upgrades from multiple analysts, with Wall Street Zen upgrading it to a "strong-buy" rating and B. Riley boosting its price objective from $50.00 to $75.00.

Voya Investment Management LLC boosted its holdings in shares of Tutor Perini Corporation (NYSE:TPC - Free Report) by 70.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,573 shares of the construction company's stock after buying an additional 9,294 shares during the quarter. Voya Investment Management LLC's holdings in Tutor Perini were worth $523,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. GAMMA Investing LLC lifted its stake 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 buying an additional 510 shares during the period. New Age Alpha Advisors LLC purchased a new position in Tutor Perini in the first quarter valued at $54,000. Comerica Bank increased its holdings in Tutor Perini by 30.7% in the first quarter. Comerica Bank now owns 2,423 shares of the construction company's stock valued at $56,000 after buying an additional 569 shares in the last quarter. AlphaQuest LLC increased its stake in shares of Tutor Perini by 849.2% during the first quarter. AlphaQuest LLC now owns 3,436 shares of the construction company's stock worth $80,000 after purchasing an additional 3,074 shares in the last quarter. Finally, CWM LLC increased its stake in shares of Tutor Perini by 32.8% during the first quarter. CWM LLC now owns 3,442 shares of the construction company's stock worth $80,000 after purchasing an additional 850 shares in the last quarter. 65.01% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Tutor Perini

In other news, Director Sidney J. Feltenstein sold 124,668 shares of Tutor Perini stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $65.96, for a total transaction of $8,223,101.28. Following the completion of the sale, the director directly owned 187,274 shares in the company, valued at $12,352,593.04. The trade was a 39.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Ronald N. Tutor sold 83,144 shares of the business's stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $64.94, for a total transaction of $5,399,371.36. Following the completion of the sale, the chairman owned 4,062,985 shares of the company's stock, valued at approximately $263,850,245.90. The trade was a 2.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 725,000 shares of company stock valued at $44,824,931. Insiders own 17.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TPC. Wall Street Zen upgraded shares of Tutor Perini from a "buy" rating to a "strong-buy" rating in a research report on Monday, August 11th. UBS Group boosted their price target on shares of Tutor Perini from $59.00 to $67.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Zacks Research raised shares of Tutor Perini to a "strong-buy" rating in a research note on Friday, August 8th. Finally, B. Riley increased their price objective on shares of Tutor Perini from $50.00 to $75.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $60.00.

Tutor Perini Stock Performance

NYSE:TPC opened at $64.65 on Friday. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.32. The firm has a 50-day moving average price of $57.22 and a two-hundred day moving average price of $40.96. Tutor Perini Corporation has a twelve month low of $18.33 and a twelve month high of $68.09. The company has a market capitalization of $3.41 billion, a P/E ratio of -25.65 and a beta of 1.88.

Tutor Perini (NYSE:TPC - Get Free Report) last posted its earnings results on Wednesday, August 6th. The construction company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $0.29 by $1.12. Tutor Perini had a negative net margin of 2.77% and a negative return on equity of 6.41%. The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same period last year, the firm posted $0.02 EPS. The firm's revenue for the quarter was up 21.8% on a year-over-year basis.

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.

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