19,103 Shares in Tutor Perini Corporation (NYSE:TPC) Purchased by KBC Group NV

KBC Group NV purchased a new position in Tutor Perini Corporation (NYSE:TPC) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 19,103 shares of the construction company’s stock, valued at approximately $443,000.

A number of other institutional investors have also recently bought and sold shares of the stock. GAMMA Investing LLC increased its stake in Tutor Perini by 32.5% in the 1st quarter. GAMMA Investing LLC now owns 2,080 shares of the construction company’s stock worth $48,000 after purchasing an additional 510 shares in the last quarter. Commonwealth Equity Services LLC increased its stake in Tutor Perini by 7.3% in the 4th quarter. Commonwealth Equity Services LLC now owns 10,291 shares of the construction company’s stock worth $249,000 after purchasing an additional 700 shares in the last quarter. Sterling Capital Management LLC increased its stake in Tutor Perini by 7.0% in the 4th quarter. Sterling Capital Management LLC now owns 18,836 shares of the construction company’s stock worth $456,000 after purchasing an additional 1,235 shares in the last quarter. Gotham Asset Management LLC increased its stake in Tutor Perini by 4.3% in the 4th quarter. Gotham Asset Management LLC now owns 38,684 shares of the construction company’s stock worth $936,000 after purchasing an additional 1,609 shares in the last quarter. Finally, EP Wealth Advisors LLC grew its stake in Tutor Perini by 19.5% during the 4th quarter. EP Wealth Advisors LLC now owns 10,294 shares of the construction company’s stock valued at $249,000 after acquiring an additional 1,680 shares in the last quarter. Hedge funds and other institutional investors own 65.01% of the company’s stock.

Insider Activity

In other news, Director Raymond R. Oneglia sold 25,000 shares of Tutor Perini stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $36.14, for a total transaction of $903,500.00. Following the completion of the sale, the director directly owned 90,470 shares in the company, valued at $3,269,585.80. The trade was a 21.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Ronald N. Tutor sold 130,478 shares of Tutor Perini stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $40.93, for a total value of $5,340,464.54. Following the sale, the chairman owned 4,570,985 shares of the company’s stock, valued at approximately $187,090,416.05. This represents a 2.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 410,000 shares of company stock valued at $15,891,651. 17.30% of the stock is owned by corporate insiders.

Tutor Perini Trading Up 1.5%

NYSE:TPC opened at $48.18 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 1.33. Tutor Perini Corporation has a fifty-two week low of $14.50 and a fifty-two week high of $48.79. The stock’s 50-day moving average is $37.10 and its two-hundred day moving average is $28.30. The stock has a market cap of $2.54 billion, a PE ratio of -16.73 and a beta of 1.79.

Tutor Perini (NYSE:TPC) last announced its quarterly earnings results on Wednesday, May 7th. The construction company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.47. The business had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.08 billion. Tutor Perini had a negative return on equity of 11.64% and a negative net margin of 3.35%. The firm’s revenue was up 18.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.30 EPS.

Wall Street Analysts Forecast Growth

TPC has been the topic of several research analyst reports. B. Riley reaffirmed a “buy” rating and set a $50.00 target price (up previously from $40.00) on shares of Tutor Perini in a research note on Friday, June 6th. UBS Group lifted their target price on Tutor Perini from $40.00 to $41.00 and gave the company a “buy” rating in a research note on Friday, May 9th. Finally, Wall Street Zen raised Tutor Perini from a “hold” rating to a “buy” rating in a research note on Thursday, May 8th.

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.