XTX Topco Ltd Takes Position in Tutor Perini Corporation (NYSE:TPC)

Key Points

• XTX Topco Ltd acquired 20,394 shares of Tutor Perini Corporation, valuing approximately $473,000, during the first quarter.
• UBS Group and B. Riley raised their price targets for Tutor Perini, setting them at $67.00 and $75.00 respectively, both with "buy" ratings.
• Chairman Ronald N. Tutor sold 130,478 shares at $40.93 each, resulting in a total transaction value of over $5.3 million, which decreased his ownership stake by 2.78%.

XTX Topco Ltd acquired a new position in shares of Tutor Perini Corporation (NYSE:TPC - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 20,394 shares of the construction company's stock, valued at approximately $473,000.

Other hedge funds also recently modified their holdings of the company. SG Americas Securities LLC bought a new stake in Tutor Perini during the 1st quarter worth about $965,000. GAMMA Investing LLC grew its holdings in Tutor Perini by 32.5% during the 1st 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 last quarter. Bank of New York Mellon Corp grew its holdings in Tutor Perini by 7.6% during the 1st quarter. Bank of New York Mellon Corp now owns 127,546 shares of the construction company's stock worth $2,957,000 after acquiring an additional 9,001 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Tutor Perini by 75.1% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,363 shares of the construction company's stock worth $542,000 after acquiring an additional 10,018 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in Tutor Perini by 8.8% during the 4th quarter. Ameriprise Financial Inc. now owns 211,843 shares of the construction company's stock worth $5,127,000 after acquiring an additional 17,217 shares during the last quarter. Institutional investors and hedge funds own 65.01% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on TPC. B. Riley raised their price target on shares of Tutor Perini from $50.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Wall Street Zen raised Tutor Perini from a "buy" rating to a "strong-buy" rating in a research note on Monday. Finally, UBS Group lifted their target price on Tutor Perini from $59.00 to $67.00 and gave the company a "buy" rating in a research note on Thursday, August 7th.

Tutor Perini Trading Up 2.3%

Shares of NYSE TPC traded up $1.30 during midday trading on Tuesday, hitting $57.90. The stock had a trading volume of 172,694 shares, compared to its average volume of 682,162. The company's 50-day simple moving average is $45.40 and its 200 day simple moving average is $32.40. The firm has a market cap of $3.05 billion, a P/E ratio of -23.02 and a beta of 1.83. Tutor Perini Corporation has a fifty-two week low of $18.33 and a fifty-two week high of $63.96. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.32 and a quick ratio of 1.32.

Tutor Perini (NYSE:TPC - Get Free Report) last released its earnings results on Wednesday, August 6th. The construction company reported $1.41 EPS for the quarter, topping analysts' consensus estimates 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 analyst estimates of $1.27 billion. During the same quarter in the previous year, the business earned $0.02 EPS. The business's quarterly revenue was up 21.8% compared to the same quarter last year.

Insiders Place Their Bets

In other Tutor Perini news, Director Raymond R. Oneglia sold 25,000 shares of Tutor Perini stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $36.14, for a total transaction of $903,500.00. Following the completion of the sale, the director owned 90,470 shares of the company's stock, valued at approximately $3,269,585.80. The trade was a 21.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Ronald N. Tutor sold 130,478 shares of Tutor Perini 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 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 410,000 shares of company stock valued at $15,891,651 in the last ninety days. Company insiders own 17.30% of the company's stock.

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.