Tutor Perini Corporation $TPC Shares Acquired by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. raised its holdings in shares of Tutor Perini Corporation (NYSE:TPC) by 3.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 197,390 shares of the construction company’s stock after acquiring an additional 6,967 shares during the period. Pinnacle Associates Ltd. owned about 0.38% of Tutor Perini worth $16,289,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Farther Finance Advisors LLC lifted its holdings in shares of Tutor Perini by 26.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 796 shares of the construction company’s stock worth $66,000 after acquiring an additional 168 shares during the last quarter. Krilogy Financial LLC boosted its stake in shares of Tutor Perini by 7.5% in the 3rd quarter. Krilogy Financial LLC now owns 3,475 shares of the construction company’s stock valued at $290,000 after purchasing an additional 242 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Tutor Perini by 17.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,782 shares of the construction company’s stock valued at $147,000 after purchasing an additional 263 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Tutor Perini by 17.2% during the 3rd quarter. GAMMA Investing LLC now owns 2,096 shares of the construction company’s stock valued at $173,000 after purchasing an additional 307 shares during the last quarter. Finally, State of Wyoming raised its position in Tutor Perini by 3.7% in the 1st quarter. State of Wyoming now owns 9,848 shares of the construction company’s stock worth $760,000 after purchasing an additional 348 shares during the period. 65.01% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tutor Perini

In other news, Chairman Ronald N. Tutor sold 2,310,000 shares of the stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $85.59, for a total transaction of $197,712,900.00. Following the completion of the sale, the chairman directly owned 701,477 shares in the company, valued at approximately $60,039,416.43. This represents a 76.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Dale Reiss sold 13,400 shares of the stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $92.04, for a total transaction of $1,233,336.00. Following the sale, the director owned 31,203 shares of the company’s stock, valued at approximately $2,871,924.12. This represents a 30.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 2,507,609 shares of company stock worth $216,823,719. 15.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Weiss Ratings raised shares of Tutor Perini from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. Zacks Research lowered shares of Tutor Perini from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. UBS Group raised their price objective on Tutor Perini from $98.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Finally, Wall Street Zen upgraded Tutor Perini from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 8th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $105.00.

Tutor Perini Stock Performance

Shares of TPC stock opened at $77.93 on Wednesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.29 and a current ratio of 1.29. Tutor Perini Corporation has a fifty-two week low of $57.90 and a fifty-two week high of $102.30. The stock has a 50 day moving average price of $86.64 and a two-hundred day moving average price of $82.93. The company has a market capitalization of $4.10 billion, a P/E ratio of 33.59 and a beta of 2.06.

Tutor Perini (NYSE:TPC) last issued its earnings results on Wednesday, August 5th. The construction company reported $1.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $1.07. Tutor Perini had a net margin of 2.08% and a return on equity of 20.95%. The firm had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.57 billion. During the same quarter last year, the business earned $0.38 earnings per share. The business’s 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. Analysts expect that Tutor Perini Corporation will post 5.39 earnings per share for the current year.

Tutor Perini Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Wednesday, August 19th were issued a $0.09 dividend. This is a boost from Tutor Perini’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $0.36 dividend on an annualized basis and a yield of 0.5%. Tutor Perini’s payout ratio is 15.52%.

Tutor Perini Company Profile

Tutor Perini Corporation (NYSE:TPC) is a construction company that provides general contracting, construction management, and design-build services. Its operations are organized around civil, building, and specialty contracting activities, serving public agencies, private developers, and other institutional customers.

The company’s civil construction work includes major infrastructure such as highways, bridges, tunnels, mass-transit systems, airports, water and wastewater facilities, and other transportation and utility projects.