Fox Run Management L.L.C. Makes New $223,000 Investment in Tutor Perini Corporation $TPC

Fox Run Management L.L.C. acquired a new position in Tutor Perini Corporation (NYSE:TPC) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,610 shares of the construction company’s stock, valued at approximately $223,000.

Several other hedge funds and other institutional investors have also made changes to their positions in TPC. GAMMA Investing LLC boosted its position in 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 purchasing an additional 510 shares during the period. CWM LLC lifted its stake in shares of Tutor Perini by 32.8% during the first quarter. CWM LLC now owns 3,442 shares of the construction company’s stock worth $80,000 after purchasing an additional 850 shares in the last quarter. New York State Common Retirement Fund boosted its position in shares of Tutor Perini by 8.8% in the first quarter. New York State Common Retirement Fund now owns 12,358 shares of the construction company’s stock worth $286,000 after buying an additional 1,000 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of Tutor Perini by 7.5% in the first quarter. Envestnet Asset Management Inc. now owns 15,677 shares of the construction company’s stock valued at $363,000 after buying an additional 1,096 shares in the last quarter. Finally, Gotham Asset Management LLC raised its holdings in shares of Tutor Perini by 4.3% during the 4th quarter. Gotham Asset Management LLC now owns 38,684 shares of the construction company’s stock valued at $936,000 after buying an additional 1,609 shares during the period. Institutional investors and hedge funds 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 dated 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 310,000 shares of company stock valued at $12,270,901 in the last three months. 17.30% of the stock is currently owned by company insiders.

Tutor Perini Stock Down 0.2%

TPC stock opened at $55.9080 on Thursday. 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 firm has a 50 day simple moving average of $47.90 and a 200-day simple moving average of $33.96. The company has a market capitalization of $2.95 billion, a P/E ratio of -22.19 and a beta of 1.83. Tutor Perini Corporation has a twelve month low of $18.33 and a twelve month high of $63.96.

Tutor Perini (NYSE:TPC) last posted its quarterly earnings data on Wednesday, August 6th. The construction company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $1.12. The firm had revenue of $1.37 billion for 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%. The firm’s revenue was up 21.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.02 EPS.

Analysts Set New Price Targets

A number of research firms have weighed in on TPC. B. Riley upped their price target on Tutor Perini from $50.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Wall Street Zen upgraded shares of Tutor Perini from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 11th. UBS Group raised their price target on shares of Tutor Perini from $59.00 to $67.00 and gave the company a “buy” rating in a report on Thursday, August 7th. Finally, Zacks Research raised shares of Tutor Perini to a “strong-buy” rating in a research note on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $60.00.

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.