Tutor Perini Corporation (NYSE:TPC) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Key Points

• Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Tutor Perini Corporation by 75.1%, now owning 23,363 shares valued at approximately $542,000.
• Several institutional investors have modified their positions in Tutor Perini, with SG Americas Securities LLC acquiring a new position worth about $965,000 in the first quarter.
• B. Riley raised its price target for Tutor Perini from $50.00 to $75.00, maintaining a "buy" rating, while other analysts adjusted their ratings as well.

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Tutor Perini Corporation (NYSE:TPC - Free Report) by 75.1% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 23,363 shares of the construction company's stock after acquiring an additional 10,018 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Tutor Perini were worth $542,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TPC. LPL Financial LLC raised its stake in shares of Tutor Perini by 139.3% during the 4th quarter. LPL Financial LLC now owns 44,984 shares of the construction company's stock valued at $1,089,000 after buying an additional 26,186 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Tutor Perini by 3.7% during the 4th quarter. JPMorgan Chase & Co. now owns 556,078 shares of the construction company's stock valued at $13,457,000 after buying an additional 19,694 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Tutor Perini by 10.4% during the 4th quarter. Franklin Resources Inc. now owns 88,216 shares of the construction company's stock valued at $2,135,000 after buying an additional 8,309 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Tutor Perini by 11.7% during the 4th quarter. Wells Fargo & Company MN now owns 52,960 shares of the construction company's stock valued at $1,282,000 after buying an additional 5,533 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in shares of Tutor Perini by 46.8% during the 4th quarter. Envestnet Asset Management Inc. now owns 14,581 shares of the construction company's stock valued at $353,000 after buying an additional 4,649 shares during the last quarter. Institutional investors and hedge funds own 65.01% of the company's stock.

Tutor Perini Price Performance

Shares of Tutor Perini stock traded up $1.30 on Tuesday, hitting $57.90. The company's stock had a trading volume of 172,694 shares, compared to its average volume of 682,162. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.32 and a current ratio of 1.32. Tutor Perini Corporation has a 1 year low of $18.33 and a 1 year high of $63.96. The firm has a fifty day moving average price of $45.40 and a 200-day moving average price of $32.40. The company has a market capitalization of $3.05 billion, a price-to-earnings ratio of -23.02 and a beta of 1.83.

Tutor Perini (NYSE:TPC - Get Free Report) last announced its quarterly 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 return on equity of 6.41% and a negative net margin of 2.77%. 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. Tutor Perini's revenue for the quarter was up 21.8% compared to the same quarter last year.

Insider Activity

In related news, Chairman Ronald N. Tutor sold 130,478 shares of Tutor Perini stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $40.93, for a total value of $5,340,464.54. Following the sale, the chairman directly owned 4,570,985 shares in the company, valued at approximately $187,090,416.05. The trade was a 2.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Raymond R. Oneglia sold 75,000 shares of Tutor Perini stock in a transaction dated 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 completion of the sale, the director owned 115,470 shares in the company, valued at approximately $4,183,478.10. The trade was a 39.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 410,000 shares of company stock valued at $15,891,651. 17.30% of the stock is owned by company insiders.

Analyst Ratings Changes

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

Tutor Perini 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.