Westside Investment Management Inc. Grows Position in Tutor Perini Corporation (NYSE:TPC)

Westside Investment Management Inc. increased its holdings in shares of Tutor Perini Corporation (NYSE:TPC - Free Report) by 3.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 257,728 shares of the construction company's stock after purchasing an additional 9,525 shares during the quarter. Tutor Perini accounts for 1.3% of Westside Investment Management Inc.'s portfolio, making the stock its 16th biggest holding. Westside Investment Management Inc. owned about 0.49% of Tutor Perini worth $5,974,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of TPC. KBC Group NV purchased a new stake in Tutor Perini in the first quarter worth approximately $443,000. Lesa Sroufe & Co bought a new position in shares of Tutor Perini during the 1st quarter valued at $2,906,000. Assenagon Asset Management S.A. lifted its holdings in shares of Tutor Perini by 246.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 322,565 shares of the construction company's stock valued at $7,477,000 after buying an additional 229,363 shares during the period. SG Americas Securities LLC purchased a new position in shares of Tutor Perini in the 1st quarter worth $965,000. Finally, GAMMA Investing LLC grew its holdings in shares of Tutor Perini by 32.5% in the first quarter. GAMMA Investing LLC now owns 2,080 shares of the construction company's stock worth $48,000 after acquiring an additional 510 shares during the period. 65.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on TPC shares. UBS Group increased their target price on Tutor Perini from $40.00 to $41.00 and gave the company a "buy" rating in a report on Friday, May 9th. B. Riley restated a "buy" rating and issued a $50.00 price target (up previously from $40.00) on shares of Tutor Perini in a research report on Friday, June 6th. Finally, Wall Street Zen raised Tutor Perini from a "hold" rating to a "buy" rating in a research report on Thursday, May 8th.

Tutor Perini Price Performance

Shares of TPC stock traded up $0.72 on Thursday, hitting $48.18. 345,886 shares of the stock traded hands, compared to its average volume of 563,113. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 1.33. Tutor Perini Corporation has a 52 week low of $14.50 and a 52 week high of $48.77. The firm has a 50 day simple moving average of $36.04 and a two-hundred day simple moving average of $28.00. The firm has a market cap of $2.54 billion, a price-to-earnings ratio of -16.73 and a beta of 1.79.

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

Insider Buying and Selling

In other Tutor Perini news, Director Raymond R. Oneglia sold 75,000 shares of the stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $36.23, for a total transaction of $2,717,250.00. Following the completion of the sale, the director directly owned 115,470 shares of the company's stock, valued at $4,183,478.10. This trade represents a 39.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Ronald N. Tutor sold 130,478 shares of the business's stock in a transaction 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 transaction, the chairman directly owned 4,570,985 shares in the company, valued at $187,090,416.05. This trade represents a 2.78% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 410,000 shares of company stock worth $15,891,651. 17.30% of the stock is owned by insiders.

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.