Nierenberg Investment Management Company Inc. Has $2.09 Million Stock Holdings in Tutor Perini Corporation $TPC

Nierenberg Investment Management Company Inc. decreased its position in Tutor Perini Corporation (NYSE:TPC) by 33.0% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 44,680 shares of the construction company’s stock after selling 22,000 shares during the period. Tutor Perini comprises approximately 1.1% of Nierenberg Investment Management Company Inc.’s portfolio, making the stock its 12th largest position. Nierenberg Investment Management Company Inc.’s holdings in Tutor Perini were worth $2,090,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. New Age Alpha Advisors LLC bought a new position in Tutor Perini during the first quarter worth about $54,000. Comerica Bank raised its position in shares of Tutor Perini by 30.7% during the first 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. CWM LLC raised its position in shares of Tutor Perini by 32.8% during the first quarter. CWM LLC now owns 3,442 shares of the construction company’s stock worth $80,000 after purchasing an additional 850 shares during the period. AlphaQuest LLC lifted its holdings in shares of 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, Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Tutor Perini in the 2nd quarter valued at approximately $145,000. Institutional investors own 65.01% of the company’s stock.

Tutor Perini Stock Performance

Shares of TPC stock opened at $60.58 on Wednesday. Tutor Perini Corporation has a 12 month low of $18.33 and a 12 month high of $77.00. The company’s fifty day simple moving average is $64.42 and its 200-day simple moving average is $52.25. The firm has a market cap of $3.20 billion, a PE ratio of -24.04 and a beta of 1.94. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.32.

Tutor Perini (NYSE:TPC) last released its earnings results on Wednesday, November 5th. The construction company reported $1.15 earnings per share 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 business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter last year, the firm earned ($1.92) earnings per share. The firm’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 business also recently announced a quarterly dividend, which will be paid on Tuesday, December 23rd. Investors of record on Tuesday, December 9th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.4%. The ex-dividend date is Tuesday, December 9th.

Insider Activity at Tutor Perini

In other news, Chairman Ronald N. Tutor sold 116,856 shares of the stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $64.21, for a total value of $7,503,323.76. Following the completion of the sale, the chairman owned 4,154,129 shares of the company’s stock, valued at approximately $266,736,623.09. This represents a 2.74% decrease in their position. 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 firm’s stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $65.96, for a total transaction of $8,223,101.28. Following the completion of the transaction, the director directly owned 187,274 shares of the company’s stock, valued at $12,352,593.04. This represents a 39.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 725,000 shares of company stock valued at $44,824,931 over the last three months. Insiders own 17.30% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on TPC. Wall Street Zen upgraded shares of Tutor Perini from a “buy” rating to a “strong-buy” rating in a report on Monday, August 11th. Zacks Research lowered shares of Tutor Perini from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. UBS Group boosted their price objective on shares of Tutor Perini from $67.00 to $86.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. B. Riley reaffirmed a “buy” rating on shares of Tutor Perini in a research note on Thursday, November 6th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Tutor Perini in a research note on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Tutor Perini has a consensus rating of “Hold” and an average price target of $66.33.

Tutor Perini 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.