GAMMA Investing LLC Raises Position in Tutor Perini Co. (NYSE:TPC)

GAMMA Investing LLC boosted its holdings in Tutor Perini Co. (NYSE:TPC) by 2,971.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 48,214 shares of the construction company’s stock after purchasing an additional 46,644 shares during the period. GAMMA Investing LLC owned about 0.09% of Tutor Perini worth $1,118,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Tutor Perini by 47.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 89,032 shares of the construction company’s stock valued at $2,155,000 after purchasing an additional 28,701 shares during the last quarter. Voloridge Investment Management LLC purchased a new position in Tutor Perini in the fourth quarter valued at about $821,000. Squarepoint Ops LLC boosted its holdings in Tutor Perini by 107.9% in the fourth quarter. Squarepoint Ops LLC now owns 24,865 shares of the construction company’s stock valued at $602,000 after purchasing an additional 12,903 shares during the last quarter. Two Sigma Investments LP boosted its holdings in Tutor Perini by 110.3% in the fourth quarter. Two Sigma Investments LP now owns 47,810 shares of the construction company’s stock valued at $1,157,000 after purchasing an additional 25,076 shares during the last quarter. Finally, State of Wyoming boosted its holdings in Tutor Perini by 39.7% in the fourth quarter. State of Wyoming now owns 6,212 shares of the construction company’s stock valued at $150,000 after purchasing an additional 1,764 shares during the last quarter. Hedge funds and other institutional investors own 65.01% of the company’s stock.

Tutor Perini Trading Down 1.7%

Shares of NYSE TPC opened at $41.98 on Monday. The stock’s 50 day moving average price is $29.98 and its two-hundred day moving average price is $26.42. Tutor Perini Co. has a 52-week low of $14.50 and a 52-week high of $42.78. The stock has a market capitalization of $2.21 billion, a P/E ratio of -16.73 and a beta of 1.74. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.53.

Tutor Perini (NYSE:TPC) last announced its quarterly earnings data 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. Tutor Perini had a negative return on equity of 9.56% and a negative net margin of 3.08%. The firm had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the prior year, the firm posted $0.30 earnings per share. Tutor Perini’s revenue for the quarter was up 18.8% compared to the same quarter last year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. UBS Group increased their price target on Tutor Perini from $40.00 to $41.00 and gave the company a “buy” rating in a report on Friday, May 9th. Wall Street Zen upgraded Tutor Perini from a “hold” rating to a “buy” rating in a research note on Thursday, May 8th. Finally, B. Riley restated a “buy” rating and set a $50.00 price objective (up previously from $40.00) on shares of Tutor Perini in a research note on Friday, June 6th.

Insider Transactions at Tutor Perini

In related news, Director Raymond R. Oneglia sold 75,000 shares of the stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $36.23, for a total value of $2,717,250.00. Following the completion of the transaction, the director now directly owns 115,470 shares of the company’s stock, valued at $4,183,478.10. This represents a 39.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Ronald N. Tutor sold 130,478 shares of the stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $40.93, for a total value of $5,340,464.54. Following the completion of the transaction, the chairman now directly owns 4,570,985 shares of the company’s stock, valued at $187,090,416.05. This trade represents a 2.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 410,000 shares of company stock worth $15,891,651. 17.30% of the stock is currently owned by company insiders.

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.