New Age Alpha Advisors LLC Takes Position in Tutor Perini Corporation (NYSE:TPC)

New Age Alpha Advisors LLC bought a new stake in Tutor Perini Corporation (NYSE:TPC) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,345 shares of the construction company’s stock, valued at approximately $54,000.

A number of other institutional investors also recently modified their holdings of the company. XTX Topco Ltd bought a new position in shares of Tutor Perini in the first quarter valued at approximately $473,000. LPL Financial LLC lifted its position in shares of Tutor Perini by 55.7% during the first quarter. LPL Financial LLC now owns 70,029 shares of the construction company’s stock worth $1,623,000 after purchasing an additional 25,045 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Tutor Perini by 75.1% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,363 shares of the construction company’s stock worth $542,000 after purchasing an additional 10,018 shares in the last quarter. Bastion Asset Management Inc. acquired a new position in shares of Tutor Perini during the first quarter worth approximately $4,734,000. Finally, Pacer Advisors Inc. acquired a new position in shares of Tutor Perini during the first quarter worth approximately $13,122,000. Institutional investors own 65.01% of the company’s stock.

Insider Buying and Selling

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

Tutor Perini Trading Up 0.4%

TPC opened at $56.62 on Tuesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.32 and a quick ratio of 1.32. The company has a market cap of $2.99 billion, a price-to-earnings ratio of -22.47 and a beta of 1.83. The firm has a 50 day simple moving average of $45.40 and a 200 day simple moving average of $32.40. Tutor Perini Corporation has a fifty-two week low of $18.33 and a fifty-two week high of $63.96.

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

Analyst Upgrades and Downgrades

TPC has been the topic of a number of research reports. Wall Street Zen upgraded shares of Tutor Perini from a “buy” rating to a “strong-buy” rating in a research report on Monday. UBS Group upped 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. Finally, B. Riley upped 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.

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.