Dark Forest Capital Management LP Buys New Holdings in Tutor Perini Co. (NYSE:TPC)

Dark Forest Capital Management LP purchased a new position in shares of Tutor Perini Co. (NYSE:TPC) in the 2nd quarter, Holdings Channel.com reports. The fund purchased 22,133 shares of the construction company’s stock, valued at approximately $482,000.

A number of other large investors also recently modified their holdings of the company. CWM LLC grew its holdings in shares of Tutor Perini by 142.8% during the 2nd quarter. CWM LLC now owns 1,714 shares of the construction company’s stock worth $37,000 after purchasing an additional 1,008 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in Tutor Perini during the second quarter valued at approximately $51,000. Rhumbline Advisers grew its stake in Tutor Perini by 3.1% during the second quarter. Rhumbline Advisers now owns 84,385 shares of the construction company’s stock worth $1,838,000 after buying an additional 2,534 shares during the period. Sculati Wealth Management LLC grew its stake in Tutor Perini by 1.4% during the first quarter. Sculati Wealth Management LLC now owns 208,712 shares of the construction company’s stock worth $3,018,000 after buying an additional 2,811 shares during the period. Finally, nVerses Capital LLC acquired a new stake in shares of Tutor Perini in the second quarter worth $63,000. 65.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, UBS Group upgraded shares of Tutor Perini from a “neutral” rating to a “buy” rating and lifted their target price for the company from $14.00 to $27.00 in a report on Friday, June 14th.

Tutor Perini Price Performance

Shares of NYSE TPC opened at $25.84 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.65 and a quick ratio of 1.65. Tutor Perini Co. has a 1-year low of $6.85 and a 1-year high of $27.05. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of -12.67 and a beta of 1.51. The business has a 50-day moving average of $22.84 and a 200-day moving average of $19.94.

Tutor Perini (NYSE:TPC) last released its quarterly earnings results on Thursday, August 1st. The construction company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.15). The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Tutor Perini had a negative return on equity of 4.49% and a negative net margin of 1.59%. The firm’s revenue was up 10.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.72) EPS. On average, equities analysts anticipate that Tutor Perini Co. will post 1.12 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 in the United States and internationally. It operates through three segments: Civil, Building, and Specialty Contractors.