Globeflex Capital L P Purchases New Stake in Tutor Perini Corporation $TPC

Globeflex Capital L P acquired a new position in shares of Tutor Perini Corporation (NYSE:TPC) during the second quarter, HoldingsChannel.com reports. The firm acquired 66,959 shares of the construction company’s stock, valued at approximately $5,556,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. GSA Capital Partners LLP increased its stake in shares of Tutor Perini by 73.6% in the 4th quarter. GSA Capital Partners LLP now owns 53,367 shares of the construction company’s stock worth $3,577,000 after acquiring an additional 22,631 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Tutor Perini in the fourth quarter valued at about $875,000. Sierra Summit Advisors LLC acquired a new stake in Tutor Perini during the fourth quarter worth about $896,000. Vanguard Group Inc. raised its position in shares of Tutor Perini by 3.0% during the 4th quarter. Vanguard Group Inc. now owns 3,009,860 shares of the construction company’s stock valued at $201,721,000 after buying an additional 86,874 shares during the period. Finally, Bank of America Corp DE grew its position in Tutor Perini by 74.2% in the first quarter. Bank of America Corp DE now owns 481,180 shares of the construction company’s stock worth $37,142,000 after acquiring an additional 204,878 shares during the period. Institutional investors and hedge funds own 65.01% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Zacks Research downgraded Tutor Perini from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 28th. Wall Street Zen raised Tutor Perini from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Tutor Perini in a report on Friday, July 17th. Finally, UBS Group upped their target price on shares of Tutor Perini from $98.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Tutor Perini has an average rating of “Hold” and an average price target of $105.00.

Tutor Perini Stock Down 0.3%

Shares of NYSE TPC opened at $90.97 on Monday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.29. The business’s 50 day moving average is $83.95 and its two-hundred day moving average is $80.62. Tutor Perini Corporation has a 52-week low of $56.62 and a 52-week high of $102.30. The firm has a market cap of $4.79 billion, a price-to-earnings ratio of 39.21 and a beta of 2.05.

Tutor Perini (NYSE:TPC) last released its quarterly earnings results on Wednesday, August 5th. The construction company reported $1.74 EPS for the quarter, topping the consensus estimate of $0.67 by $1.07. Tutor Perini had a return on equity of 20.95% and a net margin of 2.08%.The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.57 billion. During the same period last year, the business posted $0.38 earnings per share. The company’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. Research analysts predict that Tutor Perini Corporation will post 5.48 EPS for the current 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. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $0.36 annualized dividend and a yield of 0.4%. This is an increase from Tutor Perini’s previous quarterly dividend of $0.06. Tutor Perini’s dividend payout ratio is presently 15.52%.

Insider Transactions at Tutor Perini

In related news, Director Sidney J. Feltenstein sold 184,209 shares of Tutor Perini stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $97.05, for a total value of $17,877,483.45. Following the completion of the transaction, the director owned 6,700 shares in the company, valued at approximately $650,235. The trade was a 96.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robert C. Lieber sold 17,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $75.36, for a total transaction of $1,318,800.00. Following the sale, the director directly owned 149,410 shares in the company, valued at approximately $11,259,537.60. The trade was a 10.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 15.40% of the stock is owned by corporate 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.