Jacobs Levy Equity Management Inc. Sells 56,225 Shares of Tutor Perini Corporation $TPC

Jacobs Levy Equity Management Inc. trimmed its holdings in shares of Tutor Perini Corporation (NYSE:TPC) by 7.1% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 735,810 shares of the construction company’s stock after selling 56,225 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Tutor Perini were worth $17,056,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. GAMMA Investing LLC increased its stake 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 in the last quarter. New Age Alpha Advisors LLC bought a new position in shares of Tutor Perini during the 1st quarter worth approximately $54,000. Comerica Bank grew its stake in shares of Tutor Perini by 30.7% during the 1st quarter. Comerica Bank now owns 2,423 shares of the construction company’s stock worth $56,000 after acquiring an additional 569 shares in the last quarter. CWM LLC grew its stake in shares of 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 acquiring an additional 850 shares in the last quarter. Finally, AlphaQuest LLC grew its stake in shares of 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 acquiring an additional 3,074 shares in the last quarter. 65.01% of the stock is owned by institutional investors.

Insider Transactions at Tutor Perini

In other Tutor Perini news, Chairman Ronald N. Tutor sold 44,312 shares of the firm’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $59.13, for a total transaction of $2,620,168.56. Following the completion of the sale, the chairman owned 4,270,985 shares of the company’s stock, valued at $252,543,343.05. This trade represents a 1.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last three months, insiders sold 560,000 shares of company stock worth $30,213,955. Company insiders own 17.30% of the company’s stock.

Wall Street Analyst Weigh In

TPC has been the subject of several research reports. UBS Group raised their price target on shares of Tutor Perini from $59.00 to $67.00 and gave the stock a “buy” rating in a research note on Thursday, August 7th. Wall Street Zen raised shares of Tutor Perini from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 11th. B. Riley raised their price target on shares of Tutor Perini from $50.00 to $75.00 and gave the stock a “buy” rating in a research note 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 research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $60.00.

Tutor Perini Price Performance

NYSE:TPC opened at $62.54 on Friday. Tutor Perini Corporation has a 1-year low of $18.33 and a 1-year high of $63.96. 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 fifty day simple moving average of $51.83 and a 200 day simple moving average of $36.96. The stock has a market capitalization of $3.30 billion, a PE ratio of -24.82 and a beta of 1.88.

Tutor Perini (NYSE:TPC) last released its earnings results on Wednesday, August 6th. The construction company reported $1.41 earnings per share 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 during the quarter, compared to analysts’ expectations of $1.27 billion. During the same period last year, the business earned $0.02 earnings per share. The firm’s revenue was up 21.8% on a year-over-year basis.

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.