241,108 Shares in Tutor Perini Corporation $TPC Purchased by Empowered Funds LLC

Empowered Funds LLC bought a new stake in Tutor Perini Corporation (NYSE:TPC) during the second quarter, HoldingsChannel reports. The institutional investor bought 241,108 shares of the construction company’s stock, valued at approximately $20,005,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of TPC. Formula Growth Ltd. purchased a new stake in shares of Tutor Perini during the 2nd quarter worth approximately $2,040,000. Public Employees Retirement System of Ohio purchased a new position in Tutor Perini in the second quarter valued at approximately $56,000. Capstone Investment Advisors LLC bought a new position in Tutor Perini during the second quarter valued at $896,000. Corient Private Wealth LP bought a new position in Tutor Perini during the second quarter valued at $411,000. Finally, Bank of America Corp DE bought a new position in Tutor Perini during the second quarter valued at $27,305,000. 65.01% of the stock is owned by institutional investors.

Tutor Perini Trading Up 4.5%

Shares of TPC stock opened at $92.49 on Friday. The stock has a market capitalization of $4.87 billion, a price-to-earnings ratio of 39.87 and a beta of 2.05. The company’s fifty day simple moving average is $84.90 and its two-hundred day simple moving average is $80.85. Tutor Perini Corporation has a 1 year low of $56.62 and a 1 year high of $102.30. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.29 and a quick ratio of 1.29.

Tutor Perini (NYSE:TPC) last posted its quarterly earnings results on Wednesday, August 5th. The construction company reported $1.74 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $1.07. The firm had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.57 billion. Tutor Perini had a return on equity of 20.95% and a net margin of 2.08%.The business’s revenue for the quarter was up 19.2% on a year-over-year basis. During the same period last year, the company earned $0.38 earnings per share. Tutor Perini has set its FY 2026 guidance at 5.150-5.450 EPS. As a group, analysts anticipate that Tutor Perini Corporation will post 5.48 earnings per share for the current year.

Tutor Perini Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Wednesday, August 19th will be paid a $0.09 dividend. The ex-dividend date 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 15.52%.

Insiders Place Their Bets

In other Tutor Perini news, Director Sidney J. Feltenstein sold 184,209 shares of Tutor Perini stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $97.05, for a total transaction of $17,877,483.45. Following the completion of the transaction, the director owned 6,700 shares of the company’s stock, valued at $650,235. The trade was a 96.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 15.40% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on TPC. Weiss Ratings restated a “sell (d-)” rating on shares of Tutor Perini in a research note on Friday, July 17th. UBS Group lifted their price objective on Tutor Perini from $98.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Zacks Research cut Tutor Perini from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 28th. Finally, Wall Street Zen raised shares of Tutor Perini from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 8th. Two 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, the stock currently has an average rating of “Hold” and an average price target of $105.00.

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.