Tutor Perini Corporation $TPC Shares Bought by Bank of America Corp DE

Key Points

• Bank of America increased its Tutor Perini stake by 74.2% in the first quarter, purchasing 204,878 additional shares and bringing its holdings to 481,180 shares valued at approximately $37.1 million. Institutional investors collectively own 65.01% of the company.
• Tutor Perini reported strong quarterly results, with earnings of $1.74 per share 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 from $0.06.
• Analyst sentiment remains mixed: UBS raised its price target to $105 and maintained a buy rating, while other firms issued hold or sell ratings. Meanwhile, insiders sold 211,709 shares worth nearly $20 million over the past 90 days.

Bank of America Corp DE increased its stake in shares of Tutor Perini Corporation (NYSE:TPC - Free Report) by 74.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 481,180 shares of the construction company's stock after purchasing an additional 204,878 shares during the period. Bank of America Corp DE owned 0.91% of Tutor Perini worth $37,142,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Smartleaf Asset Management LLC grew its position in shares of Tutor Perini by 31.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 618 shares of the construction company's stock worth $42,000 after buying an additional 148 shares in the last quarter. State of Alaska Department of Revenue grew its position in Tutor Perini by 5.8% in the fourth quarter. State of Alaska Department of Revenue now owns 3,103 shares of the construction company's stock worth $207,000 after buying an additional 171 shares during the last quarter. Quarry LP lifted its stake in Tutor Perini by 74.7% during the third 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 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 period. Finally, Allworth Financial LP grew its holdings in shares of Tutor Perini by 71.4% during the fourth quarter. Allworth Financial LP now owns 605 shares of the construction company's stock valued at $41,000 after buying an additional 252 shares in the last quarter. Institutional investors and hedge funds own 65.01% of the company's stock.

Insiders Place Their Bets

In other Tutor Perini news, Director Sidney J. Feltenstein sold 184,209 shares of Tutor Perini 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 completion of the transaction, the director owned 6,700 shares of the company's stock, valued at $650,235. The trade was a 96.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert C. Lieber sold 17,500 shares of Tutor Perini stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $75.36, for a total value of $1,318,800.00. Following the sale, the director owned 149,410 shares of the company's stock, valued at approximately $11,259,537.60. This trade represents a 10.48% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 211,709 shares of company stock valued at $19,938,783 over the last ninety days. Corporate insiders own 15.40% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. UBS Group boosted their price target on shares of Tutor Perini from $98.00 to $105.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Wall Street Zen raised Tutor Perini from a "buy" rating to a "strong-buy" rating in a report 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. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Tutor Perini in a research report on Friday, July 17th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $105.00.

Tutor Perini Stock Up 2.2%

NYSE TPC opened at $96.75 on Friday. The business has a fifty day moving average price of $81.97 and a two-hundred day moving average price of $80.15. The stock has a market capitalization of $5.09 billion, a PE ratio of 41.70 and a beta of 2.05. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.29 and a quick ratio of 1.29. Tutor Perini Corporation has a fifty-two week low of $53.83 and a fifty-two week 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, topping 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 company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.57 billion. During the same period in the previous year, the firm earned $0.38 earnings per share. The firm'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. Equities analysts expect that Tutor Perini Corporation will post 5.48 earnings per share for the current fiscal year.

Tutor Perini Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Wednesday, August 19th will be given a $0.09 dividend. This is an increase from Tutor Perini's previous quarterly dividend of $0.06. This represents a $0.36 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Wednesday, August 19th. Tutor Perini's dividend payout ratio (DPR) is 10.34%.

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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