Campbell & CO Investment Adviser LLC Makes New Investment in Tutor Perini Corp (NYSE:TPC)

Campbell & CO Investment Adviser LLC acquired a new position in Tutor Perini Corp (NYSE:TPC) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 14,700 shares of the construction company’s stock, valued at approximately $179,000.

A number of other large investors have also recently added to or reduced their stakes in TPC. FNY Investment Advisers LLC bought a new stake in Tutor Perini in the 1st quarter worth approximately $33,000. Nisa Investment Advisors LLC boosted its holdings in shares of Tutor Perini by 1,052.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 8,300 shares of the construction company’s stock worth $101,000 after purchasing an additional 7,580 shares during the period. Stone Ridge Asset Management LLC purchased a new position in shares of Tutor Perini in the 2nd quarter worth approximately $140,000. Jane Street Group LLC purchased a new position in shares of Tutor Perini in the 1st quarter worth approximately $148,000. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of Tutor Perini in the 1st quarter worth approximately $180,000. 79.66% of the stock is currently owned by institutional investors and hedge funds.

TPC has been the subject of a number of recent research reports. Zacks Investment Research upgraded Tutor Perini from a “hold” rating to a “buy” rating and set a $7.00 target price for the company in a report on Saturday, May 9th. B. Riley boosted their price objective on Tutor Perini from $18.00 to $20.00 in a report on Thursday. Finally, ValuEngine cut Tutor Perini from a “hold” rating to a “sell” rating in a report on Wednesday, May 6th. One analyst has rated the stock with a sell rating and three have given a buy rating to the company’s stock. Tutor Perini presently has a consensus rating of “Buy” and an average target price of $15.00.

Shares of TPC stock opened at $11.77 on Friday. Tutor Perini Corp has a twelve month low of $2.61 and a twelve month high of $19.48. The stock has a market capitalization of $597.57 million, a price-to-earnings ratio of 9.65 and a beta of 1.87. The stock has a fifty day simple moving average of $11.85 and a two-hundred day simple moving average of $10.09. The company has a current ratio of 1.50, a quick ratio of 1.62 and a debt-to-equity ratio of 0.35.

Tutor Perini (NYSE:TPC) last issued its earnings results on Wednesday, July 29th. The construction company reported $0.37 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.04). Tutor Perini had a positive return on equity of 4.22% and a negative net margin of 0.63%. The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Research analysts predict that Tutor Perini Corp will post 2.03 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Friday, July 10th will be issued a $0.2969 dividend. This represents a $1.19 annualized dividend and a dividend yield of 10.09%. The ex-dividend date is Thursday, July 9th.

In related news, Director Michael R. Klein purchased 150,000 shares of Tutor Perini stock in a transaction dated Monday, May 18th. The stock was purchased at an average cost of $8.60 per share, with a total value of $1,290,000.00. Also, Director Raymond R. Oneglia purchased 10,232 shares of Tutor Perini stock in a transaction dated Thursday, May 21st. The stock was bought at an average cost of $9.70 per share, with a total value of $99,250.40. Following the completion of the transaction, the director now owns 122,403 shares in the company, valued at approximately $1,187,309.10. The disclosure for this purchase can be found here. Insiders acquired a total of 207,922 shares of company stock valued at $1,861,710 over the last quarter. Company insiders own 24.30% 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 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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Institutional Ownership by Quarter for Tutor Perini (NYSE:TPC)

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