AlphaQuest LLC Acquires 7,055 Shares of Tutor Perini Corporation $TPC

AlphaQuest LLC raised its holdings in shares of Tutor Perini Corporation (NYSE:TPC) by 205.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,491 shares of the construction company’s stock after acquiring an additional 7,055 shares during the quarter. AlphaQuest LLC’s holdings in Tutor Perini were worth $491,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC grew its position in shares of Tutor Perini by 32.5% during the 1st quarter. GAMMA Investing LLC now owns 2,080 shares of the construction company’s stock valued at $48,000 after purchasing an additional 510 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of 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 valued at $2,957,000 after purchasing an additional 9,001 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Tutor Perini by 75.1% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,363 shares of the construction company’s stock valued at $542,000 after purchasing an additional 10,018 shares in the last quarter. Voya Investment Management LLC grew its position in shares of Tutor Perini by 70.0% during the 1st quarter. Voya Investment Management LLC now owns 22,573 shares of the construction company’s stock valued at $523,000 after purchasing an additional 9,294 shares in the last quarter. Finally, New Age Alpha Advisors LLC purchased a new position in shares of Tutor Perini during the 1st quarter valued at $54,000. 65.01% of the stock is currently owned by hedge funds and other institutional investors.

Tutor Perini Stock Down 0.4%

Shares of NYSE:TPC opened at $68.47 on Wednesday. Tutor Perini Corporation has a 52-week low of $18.33 and a 52-week high of $71.07. The firm has a fifty day moving average of $62.95 and a 200 day moving average of $47.52. The firm has a market capitalization of $3.61 billion, a PE ratio of -27.17 and a beta of 1.86. 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 (NYSE:TPC) last announced its earnings results on Wednesday, August 6th. The construction company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $1.12. The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.27 billion. Tutor Perini had a negative net margin of 2.77% and a negative return on equity of 6.41%. The firm’s quarterly revenue was up 21.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.02 earnings per share.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. B. Riley boosted their price target on shares of Tutor Perini from $50.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. Zacks Research lowered shares of Tutor Perini from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. UBS Group boosted their price target on shares of Tutor Perini from $59.00 to $67.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tutor Perini in a research report on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of Tutor Perini from a “buy” rating to a “strong-buy” rating in a research report on Monday, August 11th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $60.00.

Insider Buying and Selling at Tutor Perini

In other Tutor Perini news, Director Sidney J. Feltenstein sold 124,668 shares of the business’s stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $65.96, for a total value of $8,223,101.28. Following the completion of the sale, the director directly owned 187,274 shares of the company’s stock, valued at $12,352,593.04. The trade was a 39.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Ronald N. Tutor sold 83,144 shares of the business’s stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $64.94, for a total transaction of $5,399,371.36. Following the completion of the sale, the chairman directly owned 4,062,985 shares of the company’s stock, valued at $263,850,245.90. This represents a 2.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 725,000 shares of company stock valued at $44,824,931 over the last three months. 17.30% of the stock is currently owned by insiders.

Tutor Perini Company 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.