Point72 DIFC Ltd Acquires Shares of 7,256 Tutor Perini Co. (NYSE:TPC)

Point72 DIFC Ltd acquired a new position in shares of Tutor Perini Co. (NYSE:TPC) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 7,256 shares of the construction company’s stock, valued at approximately $158,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Hennessy Advisors Inc. purchased a new position in shares of Tutor Perini in the 2nd quarter valued at about $12,362,000. American Century Companies Inc. increased its stake in Tutor Perini by 59.9% in the second quarter. American Century Companies Inc. now owns 759,665 shares of the construction company’s stock valued at $16,546,000 after purchasing an additional 284,627 shares during the last quarter. Acadian Asset Management LLC raised its holdings in Tutor Perini by 84.4% during the second quarter. Acadian Asset Management LLC now owns 539,336 shares of the construction company’s stock worth $11,742,000 after purchasing an additional 246,901 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Tutor Perini by 9.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,399,544 shares of the construction company’s stock worth $52,263,000 after buying an additional 198,348 shares during the last quarter. Finally, Algert Global LLC acquired a new position in shares of Tutor Perini in the 2nd quarter valued at $4,138,000. Institutional investors and hedge funds own 65.01% of the company’s stock.

Tutor Perini Stock Down 2.3 %

Tutor Perini stock opened at $26.53 on Wednesday. The stock has a 50-day simple moving average of $22.89 and a 200-day simple moving average of $20.25. The company has a market capitalization of $1.39 billion, a P/E ratio of -13.00 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. Tutor Perini Co. has a fifty-two week low of $6.85 and a fifty-two week high of $27.21.

Tutor Perini (NYSE:TPC) last announced its earnings results on Thursday, August 1st. The construction company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.15). Tutor Perini had a negative return on equity of 4.49% and a negative net margin of 1.59%. The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter last year, the business posted ($0.72) earnings per share. The business’s revenue was up 10.4% on a year-over-year basis. Equities research analysts expect that Tutor Perini Co. will post 1.12 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

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.