Tutor Perini Corporation $TPC Shares Bought by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management Holding SA boosted its Tutor Perini stake by 768.4% in the first quarter, ending with 60,858 shares valued at about $4.7 million.
• Tutor Perini reported Q1 EPS of $1.03, beating estimates, while revenue came in at $1.39 billion, below expectations but still up 11.5% year over year.
• The company declared a quarterly dividend of $0.06 per share and continues to draw mixed analyst views, with an average rating of “Moderate Buy” and a target price of $86.50.

Pictet Asset Management Holding SA raised its holdings in Tutor Perini Corporation (NYSE:TPC - Free Report) by 768.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 60,858 shares of the construction company's stock after purchasing an additional 53,850 shares during the period. Pictet Asset Management Holding SA owned 0.12% of Tutor Perini worth $4,698,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Gendell Jeffrey L raised its position in shares of Tutor Perini by 95.0% during the 4th quarter. Gendell Jeffrey L now owns 889,915 shares of the construction company's stock worth $59,642,000 after purchasing an additional 433,559 shares during the last quarter. SG Americas Securities LLC increased its position in Tutor Perini by 11,487.7% during the fourth quarter. SG Americas Securities LLC now owns 366,054 shares of the construction company's stock worth $24,533,000 after buying an additional 362,895 shares in the last quarter. Fred Alger Management LLC increased its position in Tutor Perini by 47.0% during the fourth quarter. Fred Alger Management LLC now owns 1,105,848 shares of the construction company's stock worth $74,114,000 after buying an additional 353,744 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Tutor Perini by 165.2% in the first quarter. Millennium Management LLC now owns 383,530 shares of the construction company's stock worth $8,890,000 after acquiring an additional 238,933 shares during the last quarter. Finally, Cubist Systematic Strategies LLC raised its holdings in shares of Tutor Perini by 397.2% in the second quarter. Cubist Systematic Strategies LLC now owns 292,077 shares of the construction company's stock worth $13,663,000 after acquiring an additional 233,335 shares during the last quarter. 65.01% of the stock is owned by hedge funds and other institutional investors.

Tutor Perini Stock Down 0.1%

TPC stock opened at $76.69 on Friday. The company has a 50 day moving average price of $79.04 and a two-hundred day moving average price of $77.24. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.28 and a current ratio of 1.28. The stock has a market capitalization of $4.04 billion, a P/E ratio of 52.17 and a beta of 2.05. Tutor Perini Corporation has a one year low of $43.52 and a one year high of $100.00.

Tutor Perini (NYSE:TPC - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The construction company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.07. The business had revenue of $1.39 billion for the quarter, compared to analysts' expectations of $1.44 billion. Tutor Perini had a return on equity of 19.92% and a net margin of 1.37%.The business's revenue was up 11.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.65 earnings per share. Tutor Perini has set its FY 2026 guidance at 4.900-5.300 EPS. As a group, sell-side analysts expect that Tutor Perini Corporation will post 5.18 EPS for the current year.

Tutor Perini Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st were issued a $0.06 dividend. The ex-dividend date was Thursday, May 21st. This represents a $0.24 annualized dividend and a yield of 0.3%. Tutor Perini's payout ratio is 16.33%.

Analysts Set New Price Targets

A number of analysts recently commented on TPC shares. Wall Street Zen lowered Tutor Perini from a "strong-buy" rating to a "buy" rating in a research note on Saturday, May 9th. Weiss Ratings reissued a "sell (d-)" rating on shares of Tutor Perini in a research note on Monday, April 20th. Finally, Zacks Research upgraded shares of Tutor Perini from a "hold" rating to a "strong-buy" rating in a report on Monday, June 29th. 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 stock. According to MarketBeat, Tutor Perini has an average rating of "Moderate Buy" and an average target price of $86.50.

Insider Buying and Selling

In other news, Director Robert C. Lieber sold 17,500 shares of the company's stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $75.36, for a total transaction of $1,318,800.00. Following the completion of the transaction, the director owned 149,410 shares of the company's stock, valued at $11,259,537.60. This represents a 10.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 15.40% of the stock is owned by company insiders.

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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