Peconic Partners buys $27,480,061 stake in Tutor Perini Corp (TPC)

Tutor Perini Corp (TPC) : Peconic Partners scooped up 217,470 additional shares in Tutor Perini Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 1,165,397 shares of Tutor Perini Corp which is valued at $27,480,061.Tutor Perini Corp makes up approximately 4.79% of Peconic Partners’s portfolio.

Other Hedge Funds, Including , Cornerstone Capital Management Holdings. sold out all of its stake in TPC during the most recent quarter. The investment firm sold 34,250 shares of TPC which is valued $807,615. Argentus Capital Management added TPC to its portfolio by purchasing 126 company shares during the most recent quarter which is valued at $2,971.Nuveen Asset Management boosted its stake in TPC in the latest quarter, The investment management firm added 79,024 additional shares and now holds a total of 321,274 shares of Tutor Perini Corp which is valued at $7,575,641. Tutor Perini Corp makes up approx 0.05% of Nuveen Asset Management’s portfolio.California Public Employees Retirement System reduced its stake in TPC by selling 8,800 shares or 6.01% in the most recent quarter. The Hedge Fund company now holds 137,700 shares of TPC which is valued at $3,267,621. Tutor Perini Corp makes up approx 0.01% of California Public Employees Retirement System’s portfolio.

Tutor Perini Corp (TPC) witnessed a volatile trading activity on Thursday , and eventually ended flat at 0.00% or 0 points without letting the bulls or bears take much advantage. The trading began at $23.24 and reached the intraday high at $23.53. The bulls started the profit booking and pushed the shares to intraday low of $22.96. The trading session was marked by a volume range of 3,30,489 shares exchanging hands. The 52-week high of the shares is $25.98 and the 52-week low is $10.16. The market cap of the company stands at $1,140 M and there are 4,91,69,813 shares in public circulation.

On the company’s financial health, Tutor Perini Corp reported $0.43 EPS for the quarter, missing the analyst consensus estimate by $ -0.08 based on the information available during the earnings call on Aug 2, 2016. Analyst had a consensus of $0.51. The company had revenue of $1308.13 million for the quarter, compared to analysts expectations of $1401.88 million. The company’s revenue was down -.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.41 EPS.

Many Wall Street Analysts have commented on Tutor Perini Corp. Company shares were Upgraded by MKM Partners on Aug 24, 2016 to ” Buy”, Firm has raised the Price Target to $ 28 from a previous price target of $23 .Company shares were Reiterated by FBR Capital on Jun 30, 2016 to “Outperform”, Firm has raised the Price Target to $ 26 from a previous price target of $22 .Tutor Perini Corp was Initiated by MKM Partners to “Neutral” on Jun 29, 2016.

Tutor Perini Corporation is a construction company engaged in providing general contracting construction management and design-build services to private customers and public agencies. The Company operates through three segments: Civil Building and Specialty Contractors. The Civil segment focuses on public works construction and the repair replacement and reconstruction of infrastructure including highways bridges mass transit systems and water management and wastewater treatment facilities. Its Building segment provides services to various specialized building markets including the hospitality and gaming transportation healthcare municipal offices sports and entertainment educational and correctional facilities among others. Its Specialty Contractors segment provides electrical mechanical plumbing HVAC fire protection systems and pneumatically placed concrete for a range of civil and building construction projects.

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