Bryce Point Capital LLC Purchases Shares of 19,098 Tutor Perini Corporation $TPC

Bryce Point Capital LLC purchased a new stake in Tutor Perini Corporation (NYSE:TPC) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 19,098 shares of the construction company’s stock, valued at approximately $893,000.

Other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC increased its holdings in shares of Tutor Perini by 32.5% in the first quarter. GAMMA Investing LLC now owns 2,080 shares of the construction company’s stock valued at $48,000 after buying an additional 510 shares in the last quarter. New Age Alpha Advisors LLC bought a new position in shares of Tutor Perini in the first quarter valued at $54,000. Comerica Bank increased its holdings in shares of Tutor Perini by 30.7% in the first quarter. Comerica Bank now owns 2,423 shares of the construction company’s stock valued at $56,000 after buying an additional 569 shares in the last quarter. CWM LLC grew 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 worth $80,000 after purchasing an additional 850 shares in the last quarter. Finally, AlphaQuest LLC grew 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 worth $80,000 after purchasing an additional 3,074 shares in the last quarter. Institutional investors own 65.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on TPC shares. B. Riley lifted their price objective 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. Zacks Research cut shares of Tutor Perini from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tutor Perini in a research report on Wednesday, October 8th. UBS Group lifted their price objective 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, Wall Street Zen upgraded shares of Tutor Perini from a “buy” rating to a “strong-buy” rating in a research report on Monday, August 11th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $60.00.

Insider Buying and Selling at Tutor Perini

In other news, Chairman Ronald N. Tutor sold 116,856 shares of the business’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $64.21, for a total transaction of $7,503,323.76. Following the transaction, the chairman directly owned 4,154,129 shares in the company, valued at $266,736,623.09. The trade was a 2.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Sidney J. Feltenstein sold 124,668 shares of the business’s stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $65.96, for a total transaction of $8,223,101.28. Following the transaction, the director owned 187,274 shares in the company, valued at approximately $12,352,593.04. This represents a 39.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 725,000 shares of company stock worth $44,824,931. 17.30% of the stock is currently owned by corporate insiders.

Tutor Perini Trading Up 1.3%

Tutor Perini stock opened at $68.25 on Tuesday. The company’s fifty day simple moving average is $63.79 and its 200-day simple moving average is $49.02. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.32. Tutor Perini Corporation has a 12 month low of $18.33 and a 12 month high of $71.07. The stock has a market cap of $3.60 billion, a P/E ratio of -27.08 and a beta of 1.86.

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

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.