Deutsche Bank AG purchased a new position in shares of Tutor Perini Corporation (NYSE:TPC - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 49,013 shares of the construction company's stock, valued at approximately $4,067,000. Deutsche Bank AG owned approximately 0.09% of Tutor Perini at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Comerica Bank increased its stake in Tutor Perini by 30.7% in the 1st quarter. Comerica Bank now owns 2,423 shares of the construction company's stock valued at $56,000 after purchasing an additional 569 shares in the last quarter. AQR Capital Management LLC boosted its position in Tutor Perini by 42.0% during the first quarter. AQR Capital Management LLC now owns 183,267 shares of the construction company's stock worth $4,248,000 after purchasing an additional 54,204 shares in the last quarter. Millennium Management LLC grew its holdings in Tutor Perini by 165.2% in the first quarter. Millennium Management LLC now owns 383,530 shares of the construction company's stock valued at $8,890,000 after purchasing an additional 238,933 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Tutor Perini by 13.6% in the first quarter. Goldman Sachs Group Inc. now owns 580,821 shares of the construction company's stock valued at $13,463,000 after purchasing an additional 69,489 shares during the last quarter. Finally, Norges Bank acquired a new stake in Tutor Perini in the second quarter valued at $691,000. Institutional investors and hedge funds own 65.01% of the company's stock.
Insider Activity
In other news, 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 transaction of $17,877,483.45. Following the completion of the sale, the director directly owned 6,700 shares in the company, valued at $650,235. The trade was a 96.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 15.40% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
TPC has been the subject of several research reports. Wall Street Zen raised Tutor Perini from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 8th. Zacks Research cut shares of Tutor Perini from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 28th. Weiss Ratings restated a "sell (d-)" rating on shares of Tutor Perini in a report on Friday, July 17th. Finally, 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. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $105.00.
View Our Latest Analysis on Tutor Perini
Tutor Perini Price Performance
Shares of NYSE:TPC opened at $87.20 on Wednesday. The business's fifty day moving average price is $84.40 and its two-hundred day moving average price is $80.72. The stock has a market cap of $4.59 billion, a PE ratio of 37.59 and a beta of 2.05. 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 one year low of $56.62 and a one year high of $102.30.
Tutor Perini (NYSE:TPC - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The construction company reported $1.74 earnings per share for the quarter, topping the consensus estimate of $0.67 by $1.07. Tutor Perini had a return on equity of 20.95% and a net margin of 2.08%.The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter last year, the business posted $0.38 earnings per share. Tutor Perini's revenue 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. On average, analysts forecast that Tutor Perini Corporation will post 5.48 EPS for the current fiscal year.
Tutor Perini Increases Dividend
The company 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 dividend of $0.09 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $0.36 annualized dividend and a dividend yield of 0.4%. This is an increase from Tutor Perini's previous quarterly dividend of $0.06. Tutor Perini's dividend payout ratio is 15.52%.
Tutor Perini Company 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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