Tutor Perini Co. (NYSE:TPC) Shares Bought by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. boosted its holdings in shares of Tutor Perini Co. (NYSE:TPC) by 406.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 71,851 shares of the construction company’s stock after purchasing an additional 57,673 shares during the period. Balyasny Asset Management L.P.’s holdings in Tutor Perini were worth $1,739,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Barclays PLC raised its position in shares of Tutor Perini by 298.0% in the third quarter. Barclays PLC now owns 69,875 shares of the construction company’s stock worth $1,898,000 after acquiring an additional 52,319 shares during the period. Franklin Resources Inc. grew its stake in Tutor Perini by 24.6% during the 3rd quarter. Franklin Resources Inc. now owns 79,907 shares of the construction company’s stock valued at $2,130,000 after acquiring an additional 15,788 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in Tutor Perini by 67.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 93,202 shares of the construction company’s stock valued at $2,255,000 after acquiring an additional 37,478 shares in the last quarter. Hennessy Advisors Inc. grew its stake in Tutor Perini by 6.8% during the 4th quarter. Hennessy Advisors Inc. now owns 682,981 shares of the construction company’s stock valued at $16,528,000 after acquiring an additional 43,600 shares in the last quarter. Finally, Empowered Funds LLC grew its stake in Tutor Perini by 5.1% during the 4th quarter. Empowered Funds LLC now owns 282,247 shares of the construction company’s stock valued at $6,830,000 after acquiring an additional 13,726 shares in the last quarter. 65.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TPC. B. Riley raised shares of Tutor Perini to a “strong-buy” rating in a research note on Tuesday, March 18th. UBS Group increased their price target on shares of Tutor Perini from $40.00 to $41.00 and gave the company a “buy” rating in a research note on Friday. Finally, StockNews.com raised shares of Tutor Perini from a “hold” rating to a “buy” rating in a research note on Thursday, May 8th.

Tutor Perini Price Performance

Shares of TPC opened at $35.25 on Tuesday. Tutor Perini Co. has a twelve month low of $14.50 and a twelve month high of $35.31. The firm’s fifty day simple moving average is $23.29 and its 200-day simple moving average is $24.81. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of -14.04 and a beta of 1.62. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.53.

Tutor Perini (NYSE:TPC) last posted its earnings results on Wednesday, May 7th. The construction company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.47. Tutor Perini had a negative net margin of 3.08% and a negative return on equity of 9.56%. The firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period last year, the firm posted $0.30 EPS. The company’s revenue was up 18.8% on a year-over-year basis.

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.