Navellier & Associates Inc. Increases Position in Tutor Perini Corporation $TPC

Key Points

• Navellier & Associates increased its Tutor Perini stake by 60.6% in the second quarter, acquiring 22,568 additional shares and bringing its holdings to 59,783 shares valued at approximately $4.96 million. Institutional investors collectively own 65.01% of TPC.
• Tutor Perini reported strong quarterly results, with EPS of $1.74 versus the $0.67 analyst estimate and revenue of $1.64 billion, up 19.2% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $105.
• The company raised its quarterly dividend from $0.06 to $0.09 per share, equivalent to an annualized dividend of $0.36 and a 0.4% yield. However, directors recently sold substantial portions of their holdings, including a $17.9 million sale by Sidney J. Feltenstein.

Navellier & Associates Inc. increased its position in shares of Tutor Perini Corporation (NYSE:TPC - Free Report) by 60.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 59,783 shares of the construction company's stock after acquiring an additional 22,568 shares during the quarter. Navellier & Associates Inc. owned approximately 0.11% of Tutor Perini worth $4,960,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Smartleaf Asset Management LLC lifted its stake in shares of 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 purchasing an additional 148 shares during the period. Quarry LP boosted its holdings 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 during the last quarter. EverSource Wealth Advisors LLC grew its position 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 valued at $36,000 after purchasing an additional 188 shares during the period. Allworth Financial LP grew its position 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 valued at $41,000 after purchasing an additional 252 shares during the period. Finally, State of Wyoming increased its stake in Tutor Perini by 3.7% in the first quarter. State of Wyoming now owns 9,848 shares of the construction company's stock valued at $760,000 after purchasing an additional 348 shares during the last quarter. 65.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on TPC shares. Zacks Research upgraded Tutor Perini from a "hold" rating to a "strong-buy" rating in a research report on Wednesday. UBS Group lifted 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. Weiss Ratings restated a "sell (d-)" rating on shares of Tutor Perini in a report on Friday, July 17th. 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 investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Tutor Perini presently has an average rating of "Moderate Buy" and an average price target of $105.00.

Insider Buying and Selling

In other Tutor Perini news, Director Sidney J. Feltenstein sold 184,209 shares of Tutor Perini stock in a transaction that occurred on 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 transaction, the director directly owned 6,700 shares of the company's stock, 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 accessible through this hyperlink. Also, Director Dale Anne Reiss sold 13,400 shares of the stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $92.04, for a total transaction of $1,233,336.00. Following the completion of the sale, the director directly owned 31,203 shares of the company's stock, valued at $2,871,924.12. The trade was a 30.04% decrease in their position. The disclosure for this sale is available in the SEC filing. 15.40% of the stock is currently owned by corporate insiders.

Tutor Perini Trading Down 2.9%

Shares of TPC opened at $89.32 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. The firm has a market capitalization of $4.70 billion, a P/E ratio of 38.50 and a beta of 2.05. The stock's fifty day simple moving average is $85.12 and its 200 day simple moving average is $80.90. Tutor Perini Corporation has a twelve month low of $56.62 and a twelve month high of $102.30.

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

Tutor Perini Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Wednesday, August 19th will be given a dividend of $0.09 per share. This is a boost from Tutor Perini's previous quarterly dividend of $0.06. 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%. Tutor Perini's dividend payout ratio is currently 15.52%.

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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