Lesa Sroufe & Co Takes Position in Tutor Perini Corp (NYSE:TPC)

Lesa Sroufe & Co acquired a new stake in shares of Tutor Perini Corp (NYSE:TPC) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 124,620 shares of the construction company’s stock, valued at approximately $1,728,000. Lesa Sroufe & Co owned 0.25% of Tutor Perini at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. BNP Paribas Arbitrage SA lifted its stake in shares of Tutor Perini by 142.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 8,716 shares of the construction company’s stock valued at $149,000 after buying an additional 5,127 shares in the last quarter. Denali Advisors LLC purchased a new position in shares of Tutor Perini during the 2nd quarter valued at $182,000. Metropolitan Life Insurance Co. NY lifted its stake in shares of Tutor Perini by 363.5% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 12,264 shares of the construction company’s stock valued at $196,000 after buying an additional 9,618 shares in the last quarter. Oppenheimer & Co. Inc. lifted its stake in shares of Tutor Perini by 22.1% during the 1st quarter. Oppenheimer & Co. Inc. now owns 16,548 shares of the construction company’s stock valued at $283,000 after buying an additional 3,000 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its stake in shares of Tutor Perini by 8.7% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 27,807 shares of the construction company’s stock valued at $476,000 after buying an additional 2,230 shares in the last quarter. 90.45% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts recently weighed in on the stock. ValuEngine cut shares of Tutor Perini from a “sell” rating to a “strong sell” rating in a research note on Thursday, May 9th. Zacks Investment Research cut shares of Tutor Perini from a “buy” rating to a “hold” rating in a research note on Saturday, May 11th. DA Davidson upgraded shares of Tutor Perini from a “neutral” rating to a “buy” rating and set a $22.00 price target on the stock in a research note on Monday, July 1st. Finally, TheStreet cut shares of Tutor Perini from a “b-” rating to a “c+” rating in a research note on Monday, May 20th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $22.50.

In related news, CEO Ronald N. Tutor sold 50,000 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $16.55, for a total transaction of $827,500.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder N. Tutor Separate Prope Ronald sold 20,000 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $16.51, for a total transaction of $330,200.00. Following the transaction, the insider now owns 5,594,050 shares in the company, valued at $92,357,765.50. The disclosure for this sale can be found here. Insiders have sold a total of 120,000 shares of company stock worth $1,823,200 over the last 90 days. Corporate insiders own 24.30% of the company’s stock.

Shares of NYSE TPC opened at $10.30 on Wednesday. The firm’s 50-day simple moving average is $13.45. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.09 and a quick ratio of 2.09. The stock has a market cap of $613.70 million, a PE ratio of 5.39, a price-to-earnings-growth ratio of 0.58 and a beta of 1.87. Tutor Perini Corp has a 12-month low of $10.54 and a 12-month high of $22.02.

Tutor Perini (NYSE:TPC) last announced its earnings results on Wednesday, May 8th. The construction company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.06). The business had revenue of $958.49 million for the quarter, compared to analysts’ expectations of $1.01 billion. Tutor Perini had a net margin of 2.17% and a return on equity of 5.42%. On average, equities analysts forecast that Tutor Perini Corp will post 2.11 EPS for the current fiscal year.

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 worldwide. The company operates through three segments: Civil, Building, and Specialty Contractors. The Civil segment engages in the public works construction, replacement, and reconstruction of infrastructure, including highways, bridges, tunnels, mass-transit systems, and water management and wastewater treatment facilities.

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Institutional Ownership by Quarter for Tutor Perini (NYSE:TPC)

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