Algert Global LLC increased its holdings in shares of Tutor Perini Corporation (NYSE:TPC - Free Report) by 17.0% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 383,138 shares of the construction company's stock after purchasing an additional 55,584 shares during the quarter. Tutor Perini accounts for about 0.4% of Algert Global LLC's investment portfolio, making the stock its 19th largest holding. Algert Global LLC owned approximately 0.73% of Tutor Perini worth $31,789,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of TPC. BlackRock Inc. acquired a new position in shares of Tutor Perini during the 2nd quarter valued at $358,248,000. Vanguard Group Inc. lifted its stake in shares of Tutor Perini by 3.0% during the fourth quarter. Vanguard Group Inc. now owns 3,009,860 shares of the construction company's stock worth $201,721,000 after purchasing an additional 86,874 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Tutor Perini by 0.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,732,254 shares of the construction company's stock worth $133,697,000 after buying an additional 12,573 shares during the period. First Trust Advisors LP boosted its position in shares of Tutor Perini by 32.7% in the first quarter. First Trust Advisors LP now owns 1,358,899 shares of the construction company's stock worth $104,893,000 after buying an additional 334,632 shares during the period. Finally, Fred Alger Management LLC grew its stake in shares of Tutor Perini by 47.0% in the fourth quarter. Fred Alger Management LLC now owns 1,105,848 shares of the construction company's stock valued at $74,114,000 after buying an additional 353,744 shares in the last quarter. Hedge funds and other institutional investors own 65.01% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms have weighed in on TPC. Zacks Research cut Tutor Perini from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 28th. UBS Group boosted their target price on shares of Tutor Perini from $98.00 to $105.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Wall Street Zen upgraded shares of Tutor Perini from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 8th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Tutor Perini in a report on Friday, July 17th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Tutor Perini presently has an average rating of "Hold" and a consensus target price of $105.00.
Get Our Latest Analysis on Tutor Perini
Tutor Perini Trading Down 3.3%
NYSE TPC opened at $88.24 on Tuesday. The company has a market capitalization of $4.64 billion, a price-to-earnings ratio of 38.04 and a beta of 2.05. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.29 and a quick ratio of 1.29. Tutor Perini Corporation has a 12 month low of $56.62 and a 12 month high of $102.30. The company's fifty day moving average price is $84.18 and its two-hundred day moving average price is $80.66.
Tutor Perini (NYSE:TPC - Get Free Report) last posted 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. Tutor Perini had a return on equity of 20.95% and a net margin of 2.08%.The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.57 billion. During the same period last year, the firm earned $0.38 earnings per share. The company's revenue for the quarter was up 19.2% compared to the same quarter last year. Tutor Perini has set its FY 2026 guidance at 5.150-5.450 EPS. As a group, research analysts predict that Tutor Perini Corporation will post 5.48 earnings per share for the current fiscal year.
Tutor Perini Increases Dividend
The firm 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 dividend of $0.09 per share. The ex-dividend date is Wednesday, August 19th. This is a positive change from Tutor Perini's previous quarterly dividend of $0.06. This represents a $0.36 annualized dividend and a yield of 0.4%. Tutor Perini's payout ratio is presently 15.52%.
Insiders Place Their Bets
In other news, Director Sidney J. Feltenstein sold 184,209 shares of the firm's stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $97.05, for a total value of $17,877,483.45. Following the transaction, the director directly owned 6,700 shares in the company, valued at approximately $650,235. This trade represents a 96.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robert C. Lieber sold 17,500 shares of the business's stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $75.36, for a total transaction of $1,318,800.00. Following the sale, the director directly owned 149,410 shares of the company's stock, valued at approximately $11,259,537.60. This represents a 10.48% decrease in their position. The SEC filing for this sale provides additional information. 15.40% of the stock is currently owned by corporate insiders.
Tutor Perini Profile
(
Free Report)
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.
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