Tutor Perini Co. (NYSE:TPC) Holdings Increased by Brightline Capital Management LLC

Brightline Capital Management LLC grew its position in shares of Tutor Perini Co. (NYSE:TPC) by 5.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 560,000 shares of the construction company’s stock after purchasing an additional 29,000 shares during the period. Tutor Perini makes up 6.5% of Brightline Capital Management LLC’s portfolio, making the stock its 7th biggest holding. Brightline Capital Management LLC owned about 1.07% of Tutor Perini worth $15,210,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in TPC. Foundry Partners LLC grew its position in Tutor Perini by 18.2% during the third quarter. Foundry Partners LLC now owns 216,915 shares of the construction company’s stock worth $5,891,000 after buying an additional 33,440 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of Tutor Perini during the second quarter worth about $746,000. Empowered Funds LLC increased its position in shares of Tutor Perini by 13.9% in the third quarter. Empowered Funds LLC now owns 268,521 shares of the construction company’s stock worth $7,293,000 after purchasing an additional 32,676 shares during the last quarter. Dark Forest Capital Management LP purchased a new stake in Tutor Perini in the second quarter valued at approximately $482,000. Finally, Caxton Associates LP raised its stake in Tutor Perini by 254.0% in the second quarter. Caxton Associates LP now owns 77,466 shares of the construction company’s stock valued at $1,687,000 after purchasing an additional 55,583 shares in the last quarter. Institutional investors own 65.01% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on TPC shares. UBS Group increased their price target on shares of Tutor Perini from $27.00 to $39.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. B. Riley upped their target price on shares of Tutor Perini from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, StockNews.com downgraded Tutor Perini from a “buy” rating to a “hold” rating in a research report on Friday, November 15th.

Tutor Perini Stock Performance

Shares of NYSE:TPC traded up $0.25 during trading on Wednesday, reaching $28.61. 45,438 shares of the company traded hands, compared to its average volume of 448,925. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.55 and a current ratio of 1.55. Tutor Perini Co. has a 52-week low of $7.83 and a 52-week high of $34.55. The business’s fifty day moving average is $27.42 and its 200-day moving average is $23.76.

Tutor Perini (NYSE:TPC) last released its quarterly earnings data on Wednesday, November 6th. The construction company reported ($1.92) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.89) by ($0.03). The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Tutor Perini had a negative net margin of 3.08% and a negative return on equity of 9.56%. Tutor Perini’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.71) EPS. On average, equities research analysts expect that Tutor Perini Co. will post -1.47 earnings per share for the current year.

Insider Activity at Tutor Perini

In other Tutor Perini news, CEO Ronald N. Tutor sold 50,000 shares of Tutor Perini stock in a transaction on Friday, November 8th. The stock was sold at an average price of $30.78, for a total value of $1,539,000.00. Following the completion of the sale, the chief executive officer now owns 2,362,267 shares of the company’s stock, valued at approximately $72,710,578.26. This trade represents a 2.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Raymond R. Oneglia sold 100,000 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $28.73, for a total value of $2,873,000.00. Following the transaction, the director now directly owns 400,000 shares in the company, valued at approximately $11,492,000. The trade was a 20.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 325,000 shares of company stock worth $9,686,000 over the last 90 days. 19.50% of the stock is owned by company insiders.

About Tutor Perini

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.