181,455 Shares in Tutor Perini Corporation $TPC Acquired by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon acquired 181,455 Tutor Perini shares worth approximately $15.1 million, giving it a 0.34% stake; institutional investors collectively own 65.01% of the company.
• Tutor Perini reported quarterly EPS of $1.74, beating the $0.67 analyst estimate, while revenue rose 19.2% year over year to $1.64 billion. Analysts’ consensus rating is “Moderate Buy,” with a $105 price target versus the stock’s $86.36 opening price.
• Company insiders recently sold shares, including directors Sidney J. Feltenstein and Dale Anne Reiss, while Tutor Perini increased its quarterly dividend from $0.06 to $0.09 per share.

Bank of New York Mellon Corp acquired a new stake in shares of Tutor Perini Corporation (NYSE:TPC - Free Report) during the second quarter, according to its most recent filing with the SEC. The fund acquired 181,455 shares of the construction company's stock, valued at approximately $15,055,000. Bank of New York Mellon Corp owned 0.34% of Tutor Perini as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quarry LP increased its holdings in shares of Tutor Perini by 74.7% in the 3rd quarter. Quarry LP now owns 428 shares of the construction company's stock worth $28,000 after buying an additional 183 shares during the last quarter. Federated Hermes Inc. grew its holdings in shares of Tutor Perini by 446.3% during the 4th quarter. Federated Hermes Inc. now owns 437 shares of the construction company's stock worth $29,000 after acquiring an additional 357 shares during the period. EverSource Wealth Advisors LLC lifted its position in Tutor Perini by 54.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 536 shares of the construction company's stock valued at $36,000 after buying an additional 188 shares during the period. Allworth Financial LP boosted its stake in Tutor Perini by 71.4% during the fourth quarter. Allworth Financial LP now owns 605 shares of the construction company's stock worth $41,000 after acquiring an additional 252 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in Tutor Perini by 31.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 618 shares of the construction company's stock valued at $42,000 after buying an additional 148 shares during the last quarter. 65.01% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Sidney J. Feltenstein sold 184,209 shares of the stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $97.05, for a total transaction of $17,877,483.45. Following the completion of the transaction, the director directly owned 6,700 shares of the company's stock, valued at $650,235. This represents a 96.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Dale Anne Reiss sold 13,400 shares of the business's stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $92.04, for a total transaction of $1,233,336.00. Following the sale, the director owned 31,203 shares in the company, valued at $2,871,924.12. The trade was a 30.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 15.40% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. UBS Group increased their price objective on shares of Tutor Perini from $98.00 to $105.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Zacks Research upgraded Tutor Perini from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 26th. Wall Street Zen raised shares of Tutor Perini from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 8th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Tutor Perini in a report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $105.00.

Tutor Perini Stock Down 2.4%

NYSE TPC opened at $86.36 on Wednesday. Tutor Perini Corporation has a 52 week low of $56.62 and a 52 week high of $102.30. The firm has a market cap of $4.54 billion, a PE ratio of 37.22 and a beta of 2.06. The business's fifty day simple moving average is $85.37 and its 200-day simple moving average is $80.91. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.29.

Tutor Perini (NYSE:TPC - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The construction company reported $1.74 EPS for the quarter, topping analysts' consensus estimates of $0.67 by $1.07. The company had revenue of $1.64 billion for the quarter, compared to analysts' expectations of $1.57 billion. Tutor Perini had a return on equity of 20.95% and a net margin of 2.08%.The firm's revenue was up 19.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.38 earnings per share. Tutor Perini has set its FY 2026 guidance at 5.150-5.450 EPS. As a group, equities analysts anticipate that Tutor Perini Corporation will post 5.48 earnings per share for the current year.

Tutor Perini Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Wednesday, August 19th will be paid a $0.09 dividend. This is an increase from Tutor Perini's previous quarterly dividend of $0.06. The ex-dividend date is Wednesday, August 19th. This represents a $0.36 annualized dividend and a dividend yield of 0.4%. Tutor Perini's dividend payout ratio (DPR) is 15.52%.

Tutor Perini Profile

Tutor Perini Corporation is a leading U.S. construction company that provides diversified general contracting, construction management and design-build services to private clients and public agencies. The company operates through three principal market segments—Civil, Building and Specialty Contractors—serving a broad range of infrastructure and vertical construction needs.

In its Civil segment, Tutor Perini delivers heavy civil infrastructure projects including highways and bridges, water management, dams, tunnels and rail systems.

Want to see what other hedge funds are holding TPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tutor Perini Corporation (NYSE:TPC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source