Verus Capital Partners LLC Cuts Stock Holdings in Tutor Perini Corporation $TPC

Key Points

• Verus Capital Partners cut its Tutor Perini stake by 63.4% in the first quarter, selling 111,035 shares and retaining 64,064 shares worth approximately $4.95 million.
• Despite Verus’s reduction, several major institutional investors increased their positions, and hedge funds and other institutions now own 65.01% of TPC.
• Tutor Perini reported quarterly EPS of $1.03, exceeding estimates, while revenue rose 11.5% year over year. Analysts hold a consensus “Hold” rating with an average price target of $86.50.

Verus Capital Partners LLC reduced its stake in Tutor Perini Corporation (NYSE:TPC - Free Report) by 63.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,064 shares of the construction company's stock after selling 111,035 shares during the period. Verus Capital Partners LLC owned approximately 0.12% of Tutor Perini worth $4,945,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TPC. Principal Financial Group Inc. purchased a new stake in shares of Tutor Perini during the first quarter worth approximately $59,754,000. Gendell Jeffrey L raised its holdings in Tutor Perini by 95.0% in the fourth quarter. Gendell Jeffrey L now owns 889,915 shares of the construction company's stock valued at $59,642,000 after acquiring an additional 433,559 shares in the last quarter. Fred Alger Management LLC lifted its stake in Tutor Perini by 47.0% in the fourth quarter. Fred Alger Management LLC now owns 1,105,848 shares of the construction company's stock worth $74,114,000 after acquiring an additional 353,744 shares during the last quarter. First Trust Advisors LP lifted its stake in Tutor Perini by 32.7% in the first quarter. First Trust Advisors LP now owns 1,358,899 shares of the construction company's stock worth $104,893,000 after acquiring an additional 334,632 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in Tutor Perini by 165.2% during the 1st 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 in the last quarter. 65.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on TPC. Wall Street Zen downgraded shares of Tutor Perini from a "strong-buy" rating to a "buy" rating in a research report on Saturday, May 9th. Weiss Ratings restated a "sell (d-)" rating on shares of Tutor Perini in a report on Friday, July 17th. Finally, Zacks Research cut shares of Tutor Perini from a "strong-buy" rating to a "hold" rating in a research report on Tuesday. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Tutor Perini presently has a consensus rating of "Hold" and an average target price of $86.50.

Tutor Perini Trading Up 0.2%

TPC opened at $83.44 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.28 and a current ratio of 1.28. Tutor Perini Corporation has a one year low of $43.52 and a one year high of $100.00. The company has a market cap of $4.39 billion, a P/E ratio of 56.77 and a beta of 2.05. The business's 50-day simple moving average is $77.85 and its 200-day simple moving average is $78.85.

Tutor Perini (NYSE:TPC - Get Free Report) last issued its earnings results on Wednesday, May 6th. The construction company reported $1.03 earnings per share 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 analyst estimates of $1.44 billion. Tutor Perini had a return on equity of 19.92% and a net margin of 1.37%.The business's quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter last year, the company earned $0.65 EPS. Tutor Perini has set its FY 2026 guidance at 4.900-5.300 EPS. As a group, equities research analysts expect that Tutor Perini Corporation will post 5.18 EPS for the current fiscal year.

Tutor Perini Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $0.24 dividend on an annualized basis and a yield of 0.3%. Tutor Perini's dividend payout ratio (DPR) is presently 16.33%.

Insider Buying and Selling at Tutor Perini

In other news, Director Robert C. Lieber sold 17,500 shares of the company's stock in a transaction on 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 completion of the transaction, the director owned 149,410 shares in the company, valued at approximately $11,259,537.60. This represents a 10.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 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.

Want to see what other hedge funds are holding TPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tutor Perini Corporation (NYSE:TPC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.