Point72 DIFC Ltd Purchases New Position in Tutor Perini Co. (NYSE:TPC)

Point72 DIFC Ltd acquired a new stake in shares of Tutor Perini Co. (NYSE:TPC) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,256 shares of the construction company’s stock, valued at approximately $158,000.

Several other institutional investors have also modified their holdings of TPC. Hennessy Advisors Inc. bought a new position in Tutor Perini during the second quarter valued at $12,362,000. American Century Companies Inc. lifted its holdings in Tutor Perini by 59.9% during 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 in the last quarter. Acadian Asset Management LLC increased its stake in shares of 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 boosted 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 valued at $52,263,000 after acquiring an additional 198,348 shares during the last quarter. Finally, Algert Global LLC purchased a new stake in shares of Tutor Perini in the second quarter valued at about $4,138,000. 65.01% of the stock is owned by 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 target for the stock from $14.00 to $27.00 in a report on Friday, June 14th.

Tutor Perini Price Performance

TPC stock opened at $26.53 on Wednesday. The business’s fifty day moving average price is $22.89 and its 200 day moving average price is $20.25. Tutor Perini Co. has a 12-month low of $6.85 and a 12-month high of $27.21. The company has a market capitalization of $1.39 billion, a PE ratio of -13.00 and a beta of 1.51. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 0.50.

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 the consensus estimate of $0.17 by ($0.15). The business had revenue of $1.13 billion for 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%. Tutor Perini’s quarterly revenue was up 10.4% on a year-over-year basis. During the same period in the previous year, the company earned ($0.72) earnings per share. On average, sell-side analysts anticipate that Tutor Perini Co. will post 1.12 EPS for the current 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.