Engineers Gate Manager LP purchased a new stake in shares of Tutor Perini (NYSE:TPC) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 27,812 shares of the construction company’s stock, valued at approximately $613,000.
Other large investors have also bought and sold shares of the company. Aperio Group LLC increased its position in Tutor Perini by 21.3% in the 4th quarter. Aperio Group LLC now owns 12,019 shares of the construction company’s stock worth $305,000 after purchasing an additional 2,108 shares during the last quarter. Afam Capital Inc. increased its position in Tutor Perini by 2.3% in the 4th quarter. Afam Capital Inc. now owns 172,818 shares of the construction company’s stock worth $4,381,000 after purchasing an additional 3,807 shares during the last quarter. SeaCrest Wealth Management LLC acquired a new position in Tutor Perini in the 4th quarter worth about $101,000. Ironwood Investment Management LLC increased its position in Tutor Perini by 14.8% in the 1st quarter. Ironwood Investment Management LLC now owns 32,279 shares of the construction company’s stock worth $712,000 after purchasing an additional 4,170 shares during the last quarter. Finally, Anchor Bolt Capital LP increased its position in Tutor Perini by 1.8% in the 4th quarter. Anchor Bolt Capital LP now owns 245,729 shares of the construction company’s stock worth $6,229,000 after purchasing an additional 4,227 shares during the last quarter. 91.12% of the stock is currently owned by hedge funds and other institutional investors.
In other Tutor Perini news, major shareholder N. Tutor Separate Prope Ronald sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $22.26, for a total value of $1,113,000.00. Following the completion of the transaction, the insider now owns 5,748,120 shares of the company’s stock, valued at approximately $127,953,151.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 24.50% of the stock is owned by corporate insiders.
Tutor Perini (NYSE:TPC) last announced its earnings results on Wednesday, May 9th. The construction company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.22). Tutor Perini had a net margin of 2.62% and a return on equity of 4.95%. The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the previous year, the company earned $0.27 EPS. Tutor Perini’s revenue for the quarter was down 8.0% compared to the same quarter last year. equities research analysts forecast that Tutor Perini will post 2.28 earnings per share for the current fiscal year.
Several brokerages have weighed in on TPC. DA Davidson set a $38.00 target price on Tutor Perini and gave the stock a “buy” rating in a research report on Monday, April 23rd. Zacks Investment Research raised Tutor Perini from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 3rd. ValuEngine downgraded Tutor Perini from a “hold” rating to a “sell” rating in a research note on Wednesday. KeyCorp upgraded Tutor Perini from a “sector weight” rating to an “overweight” rating and set a $28.00 price target for the company in a research note on Wednesday, February 28th. They noted that the move was a valuation call. Finally, Alembic Global Advisors reiterated a “buy” rating on shares of Tutor Perini in a research note on Monday, March 5th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $31.25.
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 worldwide. The company operates through three segments: Civil, Building, and Specialty Contractors. The Civil segment engages in the public works construction, replacement, and reconstruction of infrastructure, including highways, bridges, tunnels, mass-transit systems, and water management and wastewater treatment facilities.
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