Levin Capital Strategies L.P. Takes $1.08 Million Position in Tutor Perini Corporation $TPC

Levin Capital Strategies L.P. purchased a new stake in Tutor Perini Corporation (NYSE:TPC) in the second quarter, according to its most recent filing with the SEC. The fund purchased 23,000 shares of the construction company’s stock, valued at approximately $1,076,000.

A number of other institutional investors have also made changes to their positions in TPC. GAMMA Investing LLC increased its holdings in shares of Tutor Perini by 32.5% in the 1st quarter. GAMMA Investing LLC now owns 2,080 shares of the construction company’s stock valued at $48,000 after acquiring an additional 510 shares during the last quarter. New Age Alpha Advisors LLC bought a new stake in shares of Tutor Perini in the 1st quarter valued at approximately $54,000. Comerica Bank increased its holdings in shares of Tutor Perini by 30.7% in the 1st quarter. Comerica Bank now owns 2,423 shares of the construction company’s stock valued at $56,000 after acquiring an additional 569 shares during the last quarter. CWM LLC boosted its position in Tutor Perini by 32.8% during the 1st quarter. CWM LLC now owns 3,442 shares of the construction company’s stock valued at $80,000 after purchasing an additional 850 shares during the period. Finally, AlphaQuest LLC boosted its position in Tutor Perini by 849.2% during the 1st quarter. AlphaQuest LLC now owns 3,436 shares of the construction company’s stock valued at $80,000 after purchasing an additional 3,074 shares during the period. 65.01% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Sidney J. Feltenstein sold 124,668 shares of the business’s stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $65.96, for a total value of $8,223,101.28. Following the sale, the director owned 187,274 shares of the company’s stock, valued at approximately $12,352,593.04. The trade was a 39.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Ronald N. Tutor sold 116,856 shares of the business’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $64.21, for a total value of $7,503,323.76. Following the completion of the sale, the chairman directly owned 4,154,129 shares in the company, valued at $266,736,623.09. This represents a 2.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 725,000 shares of company stock valued at $44,824,931 in the last quarter. 17.30% of the stock is currently owned by insiders.

Tutor Perini Trading Up 1.3%

Shares of TPC stock opened at $68.25 on Tuesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.32 and a current ratio of 1.32. Tutor Perini Corporation has a 1 year low of $18.33 and a 1 year high of $71.07. The stock has a fifty day moving average of $63.79 and a two-hundred day moving average of $49.02. The firm has a market capitalization of $3.60 billion, a PE ratio of -27.08 and a beta of 1.86.

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

Analyst Ratings Changes

A number of research analysts recently issued reports on TPC shares. B. Riley boosted their price objective on Tutor Perini from $50.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. Wall Street Zen upgraded Tutor Perini from a “buy” rating to a “strong-buy” rating in a research report on Monday, August 11th. Zacks Research lowered Tutor Perini from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. UBS Group boosted their price objective on Tutor Perini from $59.00 to $67.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Tutor Perini in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $60.00.

Tutor Perini 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.