Renaissance Technologies LLC Boosts Stock Position in Tutor Perini Co. (NYSE:TPC)

Renaissance Technologies LLC lifted its position in shares of Tutor Perini Co. (NYSE:TPC) by 20.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 515,380 shares of the construction company’s stock after purchasing an additional 86,800 shares during the period. Renaissance Technologies LLC owned 0.98% of Tutor Perini worth $11,225,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. CWM LLC boosted its holdings 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 worth $37,000 after purchasing an additional 1,008 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in Tutor Perini in the second quarter worth about $51,000. Rhumbline Advisers lifted its holdings in Tutor Perini by 3.1% in 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 lifted its holdings in Tutor Perini by 1.4% in 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 purchased a new stake in Tutor Perini in the second quarter worth about $63,000. 65.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Tutor Perini Stock Performance

Shares of TPC opened at $25.94 on Tuesday. 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 one year low of $6.85 and a one year high of $27.05. The company has a 50-day simple moving average of $22.71 and a two-hundred day simple moving average of $19.68. The firm has a market capitalization of $1.36 billion, a PE ratio of -12.72 and a beta of 1.51.

Tutor Perini (NYSE:TPC) last announced its 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). Tutor Perini had a negative net margin of 1.59% and a negative return on equity of 4.49%. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the prior year, the business posted ($0.72) EPS. Tutor Perini’s revenue for the quarter was up 10.4% on a year-over-year basis. On average, analysts anticipate that Tutor Perini Co. will post 1.12 EPS for the current fiscal year.

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.