Assenagon Asset Management S.A. grew its stake in shares of Tutor Perini Co. (NYSE:TPC – Free Report) by 246.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 322,565 shares of the construction company’s stock after purchasing an additional 229,363 shares during the period. Assenagon Asset Management S.A. owned approximately 0.61% of Tutor Perini worth $7,477,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of the stock. GAMMA Investing LLC boosted its stake in Tutor Perini by 32.5% during the first quarter. GAMMA Investing LLC now owns 2,080 shares of the construction company’s stock worth $48,000 after acquiring an additional 510 shares in the last quarter. Commonwealth Equity Services LLC boosted its stake in Tutor Perini by 7.3% during the fourth quarter. Commonwealth Equity Services LLC now owns 10,291 shares of the construction company’s stock worth $249,000 after acquiring an additional 700 shares in the last quarter. Sterling Capital Management LLC boosted its stake in Tutor Perini by 7.0% during the fourth quarter. Sterling Capital Management LLC now owns 18,836 shares of the construction company’s stock worth $456,000 after acquiring an additional 1,235 shares in the last quarter. Gotham Asset Management LLC boosted its stake in Tutor Perini by 4.3% during the fourth quarter. Gotham Asset Management LLC now owns 38,684 shares of the construction company’s stock worth $936,000 after acquiring an additional 1,609 shares in the last quarter. Finally, EP Wealth Advisors LLC boosted its stake in Tutor Perini by 19.5% during the fourth quarter. EP Wealth Advisors LLC now owns 10,294 shares of the construction company’s stock worth $249,000 after acquiring an additional 1,680 shares in the last quarter. Institutional investors own 65.01% of the company’s stock.
Insider Activity
In other Tutor Perini news, Director Raymond R. Oneglia sold 75,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $36.23, for a total transaction of $2,717,250.00. Following the completion of the sale, the director now directly owns 115,470 shares of the company’s stock, valued at approximately $4,183,478.10. This represents a 39.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Ronald N. Tutor sold 29,522 shares of the company’s stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $40.51, for a total transaction of $1,195,936.22. Following the sale, the chairman now directly owns 4,701,463 shares of the company’s stock, valued at approximately $190,456,266.13. This represents a 0.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 410,000 shares of company stock valued at $15,891,651 over the last three months. Insiders own 17.30% of the company’s stock.
Analysts Set New Price Targets
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Tutor Perini Trading Down 1.7%
Shares of NYSE TPC opened at $41.98 on Friday. The firm’s 50 day moving average price is $29.98 and its 200-day moving average price is $26.42. The company has a market cap of $2.21 billion, a PE ratio of -16.73 and a beta of 1.74. Tutor Perini Co. has a 52-week low of $14.50 and a 52-week high of $42.78. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.55 and a current ratio of 1.55.
Tutor Perini (NYSE:TPC – Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The construction company reported $0.53 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the previous year, the company earned $0.30 earnings per share. The firm’s quarterly revenue was up 18.8% on a year-over-year basis.
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 in the United States and internationally. It operates through three segments: Civil, Building, and Specialty Contractors.
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