BlackRock Inc. Invests $358.25 Million in Tutor Perini Corporation $TPC

BlackRock Inc. bought a new position in Tutor Perini Corporation (NYSE:TPC - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 4,317,806 shares of the construction company's stock, valued at approximately $358,248,000. BlackRock Inc. owned about 8.21% of Tutor Perini at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in TPC. Quarry LP raised its stake in shares of Tutor Perini by 74.7% in the third quarter. Quarry LP now owns 428 shares of the construction company's stock worth $28,000 after purchasing an additional 183 shares during the last quarter. Federated Hermes Inc. raised its position in Tutor Perini by 446.3% in the 4th quarter. Federated Hermes Inc. now owns 437 shares of the construction company's stock valued at $29,000 after buying an additional 357 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Tutor Perini by 54.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 536 shares of the construction company's stock valued at $36,000 after acquiring an additional 188 shares in the last quarter. Allworth Financial LP lifted its stake in Tutor Perini by 71.4% during the 4th quarter. Allworth Financial LP now owns 605 shares of the construction company's stock valued at $41,000 after acquiring an additional 252 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in Tutor Perini by 31.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 618 shares of the construction company's stock worth $42,000 after acquiring an additional 148 shares during the last quarter. Institutional investors and hedge funds own 65.01% of the company's stock.

Tutor Perini Price Performance

TPC opened at $87.20 on Wednesday. The firm has a market cap of $4.59 billion, a P/E ratio of 37.59 and a beta of 2.05. The firm has a 50-day moving average of $84.40 and a 200 day moving average of $80.72. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.29 and a current ratio of 1.29. Tutor Perini Corporation has a fifty-two week low of $56.62 and a fifty-two week high of $102.30.

Tutor Perini (NYSE:TPC - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The construction company reported $1.74 EPS for the quarter, topping the consensus estimate of $0.67 by $1.07. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.57 billion. Tutor Perini had a net margin of 2.08% and a return on equity of 20.95%. The company's revenue for the quarter was up 19.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.38 earnings per share. Tutor Perini has set its FY 2026 guidance at 5.150-5.450 EPS. On average, research analysts expect that Tutor Perini Corporation will post 5.48 EPS for the current year.

Tutor Perini Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Wednesday, August 19th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.4%. This is a positive change from Tutor Perini's previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Wednesday, August 19th. Tutor Perini's dividend payout ratio is currently 15.52%.

Analysts Set New Price Targets

TPC has been the subject of several analyst reports. Wall Street Zen upgraded shares of Tutor Perini from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 8th. Zacks Research lowered shares of Tutor Perini from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 28th. UBS Group lifted 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. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Tutor Perini in a report on Friday, July 17th. Two research 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 MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $105.00.

Insiders Place Their Bets

In other Tutor Perini news, Director Sidney J. Feltenstein sold 184,209 shares of the firm's stock in a transaction on Friday, August 7th. The stock was sold at an average price of $97.05, for a total value of $17,877,483.45. Following the completion of the sale, the director directly owned 6,700 shares of the company's stock, valued at $650,235. This trade represents a 96.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 15.40% of the company's stock.

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.

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