VIRGINIA RETIREMENT SYSTEMS ET Al Invests $875,000 in Tutor Perini Corporation $TPC

Key Points

• Virginia Retirement Systems opened a new stake in Tutor Perini, buying 13,050 shares worth about $875,000 in the fourth quarter.
• Several other institutional investors also increased their holdings, and 65.01% of the stock is owned by institutions and hedge funds, indicating heavy professional ownership.
• Tutor Perini reported better-than-expected Q1 earnings of $1.03 per share, and insiders have also been buying shares, including the CEO and a director in recent transactions.

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Tutor Perini Corporation (NYSE:TPC - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 13,050 shares of the construction company's stock, valued at approximately $875,000.

A number of other institutional investors also recently modified their holdings of TPC. Vanguard Group Inc. raised its holdings in shares of Tutor Perini by 3.0% in the 4th quarter. Vanguard Group Inc. now owns 3,009,860 shares of the construction company's stock worth $201,721,000 after acquiring an additional 86,874 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of Tutor Perini by 17.1% in the 3rd quarter. First Trust Advisors LP now owns 1,350,383 shares of the construction company's stock worth $88,572,000 after acquiring an additional 197,169 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Tutor Perini by 19.2% in the 3rd quarter. American Century Companies Inc. now owns 1,179,380 shares of the construction company's stock worth $77,356,000 after acquiring an additional 189,768 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Tutor Perini by 1.0% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,087,666 shares of the construction company's stock worth $71,340,000 after acquiring an additional 10,898 shares during the last quarter. Finally, Millennium Management LLC raised its holdings in shares of Tutor Perini by 18.7% in the 3rd quarter. Millennium Management LLC now owns 824,821 shares of the construction company's stock worth $54,100,000 after acquiring an additional 129,941 shares during the last quarter. 65.01% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Tutor Perini

In related news, Director Peter Arkley bought 8,117 shares of Tutor Perini stock in a transaction on Friday, March 6th. The stock was acquired at an average price of $73.02 per share, with a total value of $592,703.34. Following the acquisition, the director directly owned 216,717 shares of the company's stock, valued at $15,824,675.34. This represents a 3.89% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Gary G. Smalley purchased 10,000 shares of the business's stock in a transaction on Wednesday, March 4th. The stock was purchased at an average cost of $73.24 per share, with a total value of $732,400.00. Following the completion of the acquisition, the chief executive officer owned 91,479 shares in the company, valued at approximately $6,699,921.96. This trade represents a 12.27% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have bought 35,000 shares of company stock valued at $2,556,404. 15.40% of the stock is currently owned by company insiders.

Tutor Perini Trading Up 0.0%

Shares of Tutor Perini stock opened at $79.51 on Monday. Tutor Perini Corporation has a 1 year low of $34.32 and a 1 year high of $100.00. The firm has a market cap of $4.18 billion, a PE ratio of 54.09 and a beta of 2.18. The stock has a fifty day moving average price of $79.68 and a 200-day moving average price of $74.74. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.28 and a quick ratio of 1.28.

Tutor Perini (NYSE:TPC - Get Free Report) last announced its earnings results on Wednesday, May 6th. The construction company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.07. Tutor Perini had a return on equity of 19.92% and a net margin of 1.37%.The firm had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same period last year, the firm posted $0.65 EPS. The business's revenue was up 11.5% compared to the same quarter last year. Tutor Perini has set its FY 2026 guidance at 4.900-5.300 EPS. Equities research analysts anticipate that Tutor Perini Corporation will post 5.18 EPS for the current year.

Tutor Perini Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, May 21st. This represents a $0.24 annualized dividend and a dividend yield of 0.3%. Tutor Perini's dividend payout ratio (DPR) is currently 16.33%.

Analysts Set New Price Targets

A number of research firms recently weighed in on TPC. Wall Street Zen lowered shares of Tutor Perini from a "strong-buy" rating to a "buy" rating in a report on Saturday, May 9th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Tutor Perini in a research note on Monday, April 20th. Finally, UBS Group increased their price objective on shares of Tutor Perini from $86.00 to $98.00 and gave the company a "buy" rating in a research note on Monday, March 2nd. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Tutor Perini presently has a consensus rating of "Hold" and an average target price of $86.50.

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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