Empowered Funds LLC Sells 48,852 Shares of Tutor Perini Corporation $TPC

Empowered Funds LLC decreased its stake in shares of Tutor Perini Corporation (NYSE:TPC) by 17.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 239,214 shares of the construction company’s stock after selling 48,852 shares during the quarter. Empowered Funds LLC owned approximately 0.45% of Tutor Perini worth $11,190,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in TPC. New Age Alpha Advisors LLC purchased a new position in shares of Tutor Perini during the first quarter worth approximately $54,000. Comerica Bank increased its holdings in Tutor Perini by 30.7% during the 1st quarter. Comerica Bank now owns 2,423 shares of the construction company’s stock worth $56,000 after purchasing an additional 569 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Tutor Perini during the 2nd quarter worth $145,000. AlphaQuest LLC raised its position in Tutor Perini by 849.2% during the 1st quarter. AlphaQuest LLC now owns 3,436 shares of the construction company’s stock valued at $80,000 after purchasing an additional 3,074 shares in the last quarter. Finally, CWM LLC lifted its holdings in shares of Tutor Perini by 32.8% in the 1st quarter. CWM LLC now owns 3,442 shares of the construction company’s stock worth $80,000 after buying an additional 850 shares during the period. 65.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. B. Riley restated a “buy” rating on shares of Tutor Perini in a research note on Thursday, November 6th. Wall Street Zen raised shares of Tutor Perini from a “buy” rating to a “strong-buy” rating in a research report on Monday, August 11th. UBS Group upped their price target on shares of Tutor Perini from $67.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tutor Perini in a research note on Wednesday, October 8th. Finally, Zacks Research downgraded shares of Tutor Perini from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Three 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’s stock. According to MarketBeat.com, Tutor Perini presently has an average rating of “Hold” and an average price target of $66.33.

Insider Transactions at Tutor Perini

In other Tutor Perini news, Chairman Ronald N. Tutor sold 83,144 shares of the stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $64.94, for a total value of $5,399,371.36. Following the completion of the sale, the chairman directly owned 4,062,985 shares in the company, valued at approximately $263,850,245.90. This trade represents a 2.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Sidney J. Feltenstein sold 124,668 shares of the business’s stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $65.96, for a total value of $8,223,101.28. Following the sale, the director owned 187,274 shares in the company, valued at $12,352,593.04. The trade was a 39.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 725,000 shares of company stock valued at $44,824,931. 17.30% of the stock is currently owned by company insiders.

Tutor Perini Stock Up 3.1%

Shares of Tutor Perini stock opened at $60.58 on Wednesday. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.32. The company has a market cap of $3.20 billion, a P/E ratio of -24.04 and a beta of 1.94. The firm’s 50 day moving average price is $64.42 and its 200-day moving average price is $52.25. Tutor Perini Corporation has a 52-week low of $18.33 and a 52-week high of $77.00.

Tutor Perini (NYSE:TPC) last posted its earnings results on Wednesday, November 5th. The construction company reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.19. Tutor Perini had a negative net margin of 2.77% and a negative return on equity of 6.41%. The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same quarter in the prior year, the company posted ($1.92) earnings per share. Tutor Perini’s revenue for the quarter was up 30.7% compared to the same quarter last year. Tutor Perini has set its FY 2025 guidance at 4.000-4.200 EPS.

Tutor Perini Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 23rd. Investors of record on Tuesday, December 9th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Tuesday, December 9th.

Tutor Perini Company Profile

Tutor Perini Corporation, a construction company, provides diversified general contracting, construction management, and design-build services to private customers and public agencies in the United States and internationally. It operates through three segments: Civil, Building, and Specialty Contractors.