Covalis Capital LLP Takes Position in Tutor Perini Co. (NYSE:TPC)

Covalis Capital LLP bought a new stake in shares of Tutor Perini Co. (NYSE:TPC - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 68,835 shares of the construction company's stock, valued at approximately $1,666,000. Covalis Capital LLP owned about 0.13% of Tutor Perini at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC boosted its holdings in shares of Tutor Perini by 298.0% in the third quarter. Barclays PLC now owns 69,875 shares of the construction company's stock worth $1,898,000 after buying an additional 52,319 shares during the period. JPMorgan Chase & Co. grew its position in Tutor Perini by 611.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 536,384 shares of the construction company's stock worth $14,568,000 after purchasing an additional 460,945 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in Tutor Perini by 67.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 93,202 shares of the construction company's stock valued at $2,255,000 after purchasing an additional 37,478 shares during the period. Geode Capital Management LLC boosted its position in shares of Tutor Perini by 3.9% in the third quarter. Geode Capital Management LLC now owns 1,023,198 shares of the construction company's stock worth $27,795,000 after buying an additional 38,458 shares during the period. Finally, State Street Corp raised its position in Tutor Perini by 2.0% during the third quarter. State Street Corp now owns 975,082 shares of the construction company's stock valued at $26,483,000 after buying an additional 19,518 shares during the period. Institutional investors and hedge funds own 65.01% of the company's stock.

Tutor Perini Stock Performance

Shares of NYSE:TPC traded up $0.86 during trading on Thursday, hitting $21.34. 303,251 shares of the stock were exchanged, compared to its average volume of 623,166. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.55 and a current ratio of 1.55. The company's fifty day simple moving average is $23.25 and its 200-day simple moving average is $25.11. Tutor Perini Co. has a 1-year low of $13.56 and a 1-year high of $34.55. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of -8.50 and a beta of 1.47.

Tutor Perini (NYSE:TPC - Get Free Report) last posted its earnings results on Thursday, February 27th. The construction company reported ($1.51) EPS for the quarter, missing the consensus estimate of $0.29 by ($1.80). Tutor Perini had a negative return on equity of 9.56% and a negative net margin of 3.08%. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter last year, the business earned ($0.91) EPS.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on TPC shares. B. Riley raised shares of Tutor Perini to a "strong-buy" rating in a research report on Tuesday, March 18th. StockNews.com cut Tutor Perini from a "buy" rating to a "hold" rating in a research report on Tuesday, January 28th.

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.