Legal & General Group Plc Acquires Shares of 40,467 Tutor Perini Corporation $TPC

Legal & General Group Plc purchased a new stake in Tutor Perini Corporation (NYSE:TPC - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 40,467 shares of the construction company's stock, valued at approximately $3,358,000. Legal & General Group Plc owned 0.08% of Tutor Perini as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Quarry LP increased its position in shares of Tutor Perini by 74.7% during the third quarter. Quarry LP now owns 428 shares of the construction company's stock worth $28,000 after purchasing an additional 183 shares in the last quarter. Federated Hermes Inc. increased its stake in Tutor Perini by 446.3% during the 4th quarter. Federated Hermes Inc. now owns 437 shares of the construction company's stock valued at $29,000 after purchasing an additional 357 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Tutor Perini by 54.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 536 shares of the construction company's stock worth $36,000 after buying an additional 188 shares during the last quarter. Silvant Capital Management LLC acquired a new stake in shares of Tutor Perini during the second quarter worth $49,000. Finally, Allworth Financial LP raised its stake in shares of Tutor Perini by 71.4% in the fourth quarter. Allworth Financial LP now owns 605 shares of the construction company's stock worth $41,000 after purchasing an additional 252 shares during the last quarter. Institutional investors own 65.01% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Wall Street Zen raised Tutor Perini from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 8th. Zacks Research raised Tutor Perini from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 26th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Tutor Perini in a research report on Friday, July 17th. Finally, UBS Group boosted their price target on Tutor Perini from $98.00 to $105.00 and gave the company a "buy" rating in a report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $105.00.

Tutor Perini Trading Up 1.1%

NYSE:TPC opened at $88.25 on Friday. The firm has a market cap of $4.64 billion, a PE ratio of 38.04 and a beta of 2.06. The stock has a fifty day moving average price of $85.77 and a 200 day moving average price of $81.03. Tutor Perini Corporation has a 12-month low of $57.90 and a 12-month high of $102.30. 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 (NYSE:TPC - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The construction company reported $1.74 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter in the prior year, the business posted $0.38 EPS. The business's revenue for the quarter was up 19.2% on a year-over-year basis. Tutor Perini has set its FY 2026 guidance at 5.150-5.450 EPS. Sell-side analysts anticipate that Tutor Perini Corporation will post 5.48 earnings per share for the current fiscal year.

Tutor Perini Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Wednesday, August 19th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Wednesday, August 19th. This is a positive change from Tutor Perini's previous quarterly dividend of $0.06. Tutor Perini's dividend payout ratio (DPR) is currently 15.52%.

Insider Activity

In related news, Director Dale Reiss sold 13,400 shares of the stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $92.04, for a total value of $1,233,336.00. Following the transaction, the director directly owned 31,203 shares of the company's stock, valued at $2,871,924.12. This trade represents a 30.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Ronald Tutor sold 2,310,000 shares of Tutor Perini stock in a transaction on Monday, August 31st. The stock was sold at an average price of $85.59, for a total transaction of $197,712,900.00. Following the sale, the chairman owned 701,477 shares in the company, valued at $60,039,416.43. This represents a 76.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 2,507,609 shares of company stock worth $216,823,719. Corporate insiders own 15.40% of the company's stock.

About Tutor Perini

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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