25,667 Shares in Tutor Perini Corporation $TPC Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company acquired a new stake in shares of Tutor Perini Corporation (NYSE:TPC) during the second quarter, Holdings Channel.com reports. The fund acquired 25,667 shares of the construction company’s stock, valued at approximately $2,130,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GSA Capital Partners LLP grew its stake in Tutor Perini by 73.6% in the fourth quarter. GSA Capital Partners LLP now owns 53,367 shares of the construction company’s stock valued at $3,577,000 after purchasing an additional 22,631 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Tutor Perini by 3.0% during the 4th quarter. Vanguard Group Inc. now owns 3,009,860 shares of the construction company’s stock worth $201,721,000 after purchasing an additional 86,874 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Tutor Perini during the 4th quarter worth about $875,000. Sierra Summit Advisors LLC acquired a new stake in shares of Tutor Perini during the 4th quarter valued at about $896,000. Finally, Bank of America Corp DE lifted its holdings in shares of Tutor Perini by 74.2% during the 1st quarter. Bank of America Corp DE now owns 481,180 shares of the construction company’s stock valued at $37,142,000 after buying an additional 204,878 shares during the last quarter. Hedge funds and other institutional investors own 65.01% of the company’s stock.

Tutor Perini Stock Up 1.6%

TPC opened at $87.88 on Thursday. The firm has a market cap of $4.62 billion, a P/E ratio of 37.88 and a beta of 2.06. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.29 and a current ratio of 1.29. The business has a 50 day moving average price of $85.48 and a 200 day moving average price of $80.95. Tutor Perini Corporation has a twelve month low of $57.90 and a twelve month high of $102.30.

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

Tutor Perini Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Wednesday, August 19th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Wednesday, August 19th. This is a boost from Tutor Perini’s previous quarterly dividend of $0.06. Tutor Perini’s dividend payout ratio (DPR) is 15.52%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Zacks Research upgraded Tutor Perini from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 26th. Wall Street Zen raised shares of Tutor Perini from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Tutor Perini in a report on Friday, July 17th. Finally, UBS Group upped their price objective on shares of Tutor Perini from $98.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $105.00.

Insider Buying and Selling

In other Tutor Perini news, Director Sidney J. Feltenstein sold 184,209 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $97.05, for a total transaction of $17,877,483.45. Following the completion of the sale, the director directly owned 6,700 shares in the company, valued at $650,235. This represents a 96.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Ronald N. Tutor sold 2,310,000 shares of Tutor Perini stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $85.59, for a total value of $197,712,900.00. Following the completion of the transaction, the chairman owned 701,477 shares in the company, valued at $60,039,416.43. The trade was a 76.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 2,507,609 shares of company stock worth $216,823,719 in the last quarter. 15.40% of the stock is currently owned by company insiders.

Tutor Perini Company 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.