Canada Pension Plan Investment Board Invests $3.20 Million in Tutor Perini Corporation $TPC

Key Points

• Canada Pension Plan Investment Board purchased 38,600 Tutor Perini shares worth approximately $3.2 million, while institutional investors collectively owned 65.01% of the company.
• Analyst sentiment was mixed but leaned positive: Tutor Perini had a “Moderate Buy” consensus rating and a $105 target price, despite one “Sell” rating.
• Tutor Perini beat quarterly earnings and revenue estimates, reporting $1.74 EPS and $1.64 billion in revenue; it also raised its quarterly dividend from $0.06 to $0.09 per share, while two directors sold substantial portions of their holdings.

Canada Pension Plan Investment Board purchased a new stake in Tutor Perini Corporation (NYSE:TPC - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 38,600 shares of the construction company's stock, valued at approximately $3,203,000. Canada Pension Plan Investment Board owned about 0.07% of Tutor Perini at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. acquired a new position in Tutor Perini during the second quarter valued at approximately $358,248,000. Principal Financial Group Inc. bought a new position in shares of Tutor Perini during the first quarter worth $59,754,000. Donald Smith & CO. Inc. acquired a new position in shares of Tutor Perini in the 2nd quarter valued at $40,407,000. Gendell Jeffrey L increased its position in shares of Tutor Perini by 95.0% in the 4th quarter. Gendell Jeffrey L now owns 889,915 shares of the construction company's stock valued at $59,642,000 after buying an additional 433,559 shares in the last quarter. Finally, Fred Alger Management LLC increased its position in shares of Tutor Perini by 47.0% in the 4th 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. Institutional investors own 65.01% of the company's stock.

Analyst Ratings Changes

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

Insider Activity

In other news, Director Dale Anne Reiss sold 13,400 shares of the firm's stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $92.04, for a total value of $1,233,336.00. Following the completion of the transaction, the director owned 31,203 shares in the company, valued at $2,871,924.12. This trade represents a 30.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sidney J. Feltenstein sold 184,209 shares of Tutor Perini 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 completion of the sale, the director directly owned 6,700 shares in the company, valued at approximately $650,235. This represents a 96.49% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 15.40% of the company's stock.

Tutor Perini Stock Performance

Shares of Tutor Perini stock opened at $89.32 on Monday. The firm has a market cap of $4.70 billion, a price-to-earnings ratio of 38.50 and a beta of 2.05. The stock's 50-day moving average is $85.12 and its 200-day moving average is $80.88. Tutor Perini Corporation has a one year low of $56.62 and a one year high of $102.30. 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 (NYSE:TPC - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The construction company reported $1.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.67 by $1.07. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.57 billion. Tutor Perini had a return on equity of 20.95% and a net margin of 2.08%.Tutor Perini's quarterly revenue was up 19.2% on a year-over-year basis. During the same period last year, the company earned $0.38 earnings per share. Tutor Perini has set its FY 2026 guidance at 5.150-5.450 EPS. Equities 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 declared 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 represents a $0.36 annualized dividend and a yield of 0.4%. The ex-dividend date is Wednesday, August 19th. This is an increase from Tutor Perini's previous quarterly dividend of $0.06. Tutor Perini's dividend payout ratio (DPR) is presently 15.52%.

Tutor Perini Company 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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