The Manufacturers Life Insurance Company Makes New Investment in Tutor Perini Corporation $TPC

Key Points

• The Manufacturers Life Insurance Company acquired 25,667 Tutor Perini shares worth approximately $2.13 million in the second quarter, while institutional investors collectively own 65.01% of the stock.
• Tutor Perini reported strong quarterly results, with EPS of $1.74 versus estimates of $0.67 and revenue of $1.64 billion, up 19.2% year over year. The company raised its quarterly dividend from $0.06 to $0.09 per share.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating and a $105 target price, although insiders sold approximately 2.51 million shares worth $216.8 million over the past three months.

The Manufacturers Life Insurance Company purchased a new position in Tutor Perini Corporation (NYSE:TPC - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 25,667 shares of the construction company's stock, valued at approximately $2,130,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Comerica Bank raised its holdings in Tutor Perini by 30.7% during the first quarter. Comerica Bank now owns 2,423 shares of the construction company's stock worth $56,000 after purchasing an additional 569 shares in the last quarter. AQR Capital Management LLC boosted its stake in Tutor Perini by 42.0% during the 1st quarter. AQR Capital Management LLC now owns 183,267 shares of the construction company's stock valued at $4,248,000 after purchasing an additional 54,204 shares in the last quarter. Millennium Management LLC boosted its stake in Tutor Perini by 165.2% during the 1st 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 in the last quarter. Goldman Sachs Group Inc. boosted its stake in Tutor Perini by 13.6% during the 1st 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 in the last quarter. Finally, Norges Bank acquired a new position in shares of Tutor Perini during the 2nd quarter valued at $691,000. 65.01% of the stock is currently owned by institutional investors.

Tutor Perini Trading Up 1.6%

Shares of TPC opened at $87.88 on Thursday. The business's 50-day moving average price is $85.48 and its 200 day moving average price is $80.95. 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 stock has a market capitalization of $4.62 billion, a P/E ratio of 37.88 and a beta of 2.06. Tutor Perini Corporation has a 1-year low of $57.90 and a 1-year high of $102.30.

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, beating analysts' consensus estimates of $0.67 by $1.07. Tutor Perini had a net margin of 2.08% and a return on equity of 20.95%. The company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.57 billion. During the same period in the prior year, the firm earned $0.38 earnings per share. The business's quarterly revenue was up 19.2% on a year-over-year basis. Tutor Perini has set its FY 2026 guidance at 5.150-5.450 EPS. Analysts expect that Tutor Perini Corporation will post 5.48 earnings per share for the current year.

Tutor Perini Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Wednesday, August 19th will be paid a $0.09 dividend. 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 a positive change from Tutor Perini's previous quarterly dividend of $0.06. Tutor Perini's dividend payout ratio (DPR) is 15.52%.

Insiders Place Their Bets

In other Tutor Perini news, Chairman Ronald N. Tutor sold 2,310,000 shares of Tutor Perini stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $85.59, for a total transaction of $197,712,900.00. Following the transaction, the chairman directly owned 701,477 shares in the company, valued at approximately $60,039,416.43. The trade was a 76.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Sidney J. Feltenstein sold 184,209 shares of the business's stock in a transaction 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 sale, the director directly owned 6,700 shares in the company, valued at approximately $650,235. This trade represents a 96.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 2,507,609 shares of company stock worth $216,823,719. Corporate insiders own 15.40% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TPC. Wall Street Zen upgraded Tutor Perini from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 8th. UBS Group lifted their target price on Tutor Perini from $98.00 to $105.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Zacks Research upgraded shares of Tutor Perini from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 26th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Tutor Perini in a report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $105.00.

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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