23,618 Shares in Tutor Perini Corporation $TPC Bought by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp bought a new stake in shares of Tutor Perini Corporation (NYSE:TPC) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 23,618 shares of the construction company’s stock, valued at approximately $1,960,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TPC. BlackRock Inc. purchased a new stake in shares of Tutor Perini during the second quarter worth about $358,248,000. Principal Financial Group Inc. purchased a new position in shares of Tutor Perini in the first quarter worth $59,754,000. Donald Smith & CO. Inc. purchased a new position in shares of Tutor Perini in the second quarter worth $40,407,000. Gendell Jeffrey L lifted its stake in shares of Tutor Perini by 95.0% during the fourth quarter. Gendell Jeffrey L now owns 889,915 shares of the construction company’s stock worth $59,642,000 after buying an additional 433,559 shares during the period. Finally, Fred Alger Management LLC lifted its stake in shares of Tutor Perini by 47.0% during the fourth quarter. Fred Alger Management LLC now owns 1,105,848 shares of the construction company’s stock worth $74,114,000 after buying an additional 353,744 shares during the period. 65.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on TPC. UBS Group upped their target price on Tutor Perini from $98.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Wall Street Zen upgraded Tutor Perini from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Tutor Perini in a report on Friday, July 17th. Finally, Zacks Research cut Tutor Perini from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 28th. Two equities 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $105.00.

Insider Activity

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

Tutor Perini Stock Up 1.4%

NYSE:TPC opened at $88.59 on Thursday. The firm has a market capitalization of $4.66 billion, a P/E ratio of 38.19 and a beta of 2.05. Tutor Perini Corporation has a 1-year low of $56.62 and a 1-year high of $102.30. The company’s fifty day moving average price is $84.61 and its 200-day moving average price is $80.78. 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 earnings results on Wednesday, August 5th. The construction company reported $1.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $1.07. Tutor Perini had a net margin of 2.08% and a return on equity of 20.95%. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.57 billion. During the same period in the previous year, the firm posted $0.38 earnings per share. The firm’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. As a group, equities research analysts anticipate that Tutor Perini Corporation will post 5.48 EPS for the current year.

Tutor Perini Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Wednesday, August 19th will be 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 is Wednesday, August 19th. This represents a $0.36 annualized dividend and a dividend yield of 0.4%. Tutor Perini’s payout ratio is presently 15.52%.

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.