Algert Global LLC Takes $4.14 Million Position in Tutor Perini Co. (NYSE:TPC)

Algert Global LLC bought a new stake in shares of Tutor Perini Co. (NYSE:TPC) in the second quarter, Holdings Channel.com reports. The fund bought 190,012 shares of the construction company’s stock, valued at approximately $4,138,000.

A number of other large investors have also recently made changes to their positions in TPC. CWM LLC boosted its stake in shares of Tutor Perini by 142.8% during the second quarter. CWM LLC now owns 1,714 shares of the construction company’s stock valued at $37,000 after purchasing an additional 1,008 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in shares of Tutor Perini during the second quarter valued at $51,000. nVerses Capital LLC purchased a new stake in shares of Tutor Perini during the second quarter valued at $63,000. EntryPoint Capital LLC purchased a new stake in shares of Tutor Perini during the first quarter valued at $77,000. Finally, Quest Partners LLC boosted its stake in shares of Tutor Perini by 537.2% during the second quarter. Quest Partners LLC now owns 4,148 shares of the construction company’s stock valued at $90,000 after purchasing an additional 3,497 shares during the period. 65.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, UBS Group raised shares of Tutor Perini from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $14.00 to $27.00 in a research note on Friday, June 14th.

Tutor Perini Stock Performance

Shares of Tutor Perini stock opened at $27.16 on Tuesday. The company has a market capitalization of $1.42 billion, a PE ratio of -13.31 and a beta of 1.51. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.65 and a current ratio of 1.65. The company has a 50-day simple moving average of $22.89 and a two-hundred day simple moving average of $20.15. Tutor Perini Co. has a one year low of $6.85 and a one year high of $27.21.

Tutor Perini (NYSE:TPC) last announced its earnings results on Thursday, August 1st. The construction company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.15). The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.14 billion. Tutor Perini had a negative return on equity of 4.49% and a negative net margin of 1.59%. The business’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.72) earnings per share. Research analysts expect 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.