AlphaQuest LLC Grows Position in Tutor Perini Corporation $TPC

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

Other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC lifted 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 worth $48,000 after buying an additional 510 shares in the last quarter. New Age Alpha Advisors LLC bought a new position in shares of Tutor Perini during the 1st quarter worth approximately $54,000. Comerica Bank lifted its position in shares of Tutor Perini by 30.7% during the 1st quarter. Comerica Bank now owns 2,423 shares of the construction company’s stock worth $56,000 after buying an additional 569 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Tutor Perini during the 2nd quarter worth approximately $145,000. Finally, CWM LLC lifted its position in shares of Tutor Perini by 32.8% during the 1st quarter. CWM LLC now owns 3,442 shares of the construction company’s stock worth $80,000 after buying an additional 850 shares in the last quarter. 65.01% of the stock is owned by hedge funds and other institutional investors.

Tutor Perini Trading Down 0.4%

NYSE:TPC opened at $68.47 on Wednesday. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $3.61 billion, a PE ratio of -27.17 and a beta of 1.86. The firm’s 50 day moving average is $62.95 and its 200 day moving average is $47.52. Tutor Perini Corporation has a 12 month low of $18.33 and a 12 month high of $71.07.

Tutor Perini (NYSE:TPC) last posted its quarterly earnings results on Wednesday, August 6th. The construction company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $1.12. Tutor Perini had a negative net margin of 2.77% and a negative return on equity of 6.41%. The company had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter in the previous year, the firm posted $0.02 EPS. Tutor Perini’s revenue was up 21.8% on a year-over-year basis.

Insiders Place Their Bets

In other Tutor Perini news, Chairman Ronald N. Tutor sold 83,144 shares of the business’s stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $64.94, for a total transaction of $5,399,371.36. Following the sale, the chairman owned 4,062,985 shares of the company’s stock, valued at $263,850,245.90. The trade was a 2.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 transaction of $8,223,101.28. Following the sale, the director directly owned 187,274 shares in the company, valued at $12,352,593.04. The trade was a 39.97% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 725,000 shares of company stock worth $44,824,931 in the last three months. Insiders own 17.30% of the company’s stock.

Analysts Set New Price Targets

TPC has been the topic of several recent analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Tutor Perini in a research report on Wednesday, October 8th. B. Riley lifted their target price on shares of Tutor Perini from $50.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. UBS Group lifted their target price on shares of Tutor Perini from $59.00 to $67.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Wall Street Zen raised shares of Tutor Perini from a “buy” rating to a “strong-buy” rating in a research report on Monday, August 11th. Finally, Zacks Research cut shares of Tutor Perini from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Tutor Perini presently has a consensus rating of “Hold” and an average target price of $60.00.

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.