Formula Growth Ltd. Takes $2.04 Million Position in Tutor Perini Corporation $TPC

Key Points

• Formula Growth Ltd. acquired a new $2.04 million stake in Tutor Perini, purchasing 24,586 shares during the second quarter. Institutional investors collectively own 65.01% of the company.
• Tutor Perini reported strong quarterly results, with EPS of $1.74 versus the $0.67 consensus estimate and revenue of $1.64 billion, up 19.2% year over year. The company also raised its quarterly dividend to $0.09 per share.
• Analyst opinions remain mixed: UBS raised its price target to $105 and maintained a Buy rating, while other firms issued Hold or Sell ratings. The consensus rating is Hold, with a $105 average price target.

Formula Growth Ltd. bought a new stake in shares of Tutor Perini Corporation (NYSE:TPC - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 24,586 shares of the construction company's stock, valued at approximately $2,040,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC raised its holdings in Tutor Perini by 31.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 618 shares of the construction company's stock worth $42,000 after purchasing an additional 148 shares in the last quarter. Quarry LP boosted 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 valued at $28,000 after buying an additional 183 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Tutor Perini by 54.0% in the 4th 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 in the last quarter. Allworth Financial LP grew its position in shares of Tutor Perini by 71.4% in the 4th quarter. Allworth Financial LP now owns 605 shares of the construction company's stock worth $41,000 after buying an additional 252 shares during the last quarter. Finally, State of Wyoming grew its position in shares of Tutor Perini by 3.7% in the 1st quarter. State of Wyoming now owns 9,848 shares of the construction company's stock worth $760,000 after buying an additional 348 shares during the last quarter. Hedge funds and other institutional investors own 65.01% of the company's stock.

Tutor Perini Trading Up 4.5%

Shares of Tutor Perini stock opened at $92.49 on Friday. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.29. Tutor Perini Corporation has a 12-month low of $56.62 and a 12-month high of $102.30. The firm has a market capitalization of $4.87 billion, a price-to-earnings ratio of 39.87 and a beta of 2.05. The firm's 50 day simple moving average is $84.90 and its two-hundred day simple moving average is $80.85.

Tutor Perini (NYSE:TPC - Get Free Report) last posted 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 during the quarter, compared to the consensus estimate of $1.57 billion. Tutor Perini had a net margin of 2.08% and a return on equity of 20.95%. The business's revenue for the quarter was up 19.2% compared to the same quarter last year. During the same period 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. Analysts predict that Tutor Perini Corporation will post 5.48 EPS for the current 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 given a dividend of $0.09 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $0.36 dividend on an annualized basis and a yield of 0.4%. This is an increase from Tutor Perini's previous quarterly dividend of $0.06. Tutor Perini's payout ratio is presently 15.52%.

Insiders Place Their Bets

In other Tutor Perini news, Director Sidney J. Feltenstein sold 184,209 shares of the business's stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $97.05, for a total transaction of $17,877,483.45. Following the sale, the director owned 6,700 shares in the company, valued at approximately $650,235. The trade was a 96.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 15.40% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. UBS Group upped their price target on Tutor Perini from $98.00 to $105.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Zacks Research lowered Tutor Perini from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 28th. Wall Street Zen upgraded Tutor Perini from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 8th. Finally, Weiss Ratings reissued 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 issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $105.00.

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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