Convergence Investment Partners LLC Purchases 8,236 Shares of Tutor Perini Corporation $TPC

Convergence Investment Partners LLC raised its position in Tutor Perini Corporation (NYSE:TPC) by 39.5% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 29,066 shares of the construction company’s stock after purchasing an additional 8,236 shares during the period. Convergence Investment Partners LLC’s holdings in Tutor Perini were worth $2,244,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. purchased a new stake in shares of Tutor Perini during the first quarter valued at approximately $59,754,000. Gendell Jeffrey L boosted its position in Tutor Perini by 95.0% in the fourth quarter. Gendell Jeffrey L now owns 889,915 shares of the construction company’s stock worth $59,642,000 after purchasing an additional 433,559 shares during the last quarter. SG Americas Securities LLC grew its stake in Tutor Perini by 11,487.7% in the 4th quarter. SG Americas Securities LLC now owns 366,054 shares of the construction company’s stock valued at $24,533,000 after purchasing an additional 362,895 shares during the period. Fred Alger Management LLC grew its stake in Tutor Perini by 47.0% in the 4th quarter. Fred Alger Management LLC now owns 1,105,848 shares of the construction company’s stock valued at $74,114,000 after purchasing an additional 353,744 shares during the period. Finally, Millennium Management LLC increased its position in shares of Tutor Perini by 165.2% during the 1st quarter. Millennium Management LLC now owns 383,530 shares of the construction company’s stock valued at $8,890,000 after purchasing an additional 238,933 shares during the last quarter. 65.01% of the stock is owned by institutional investors.

Tutor Perini Stock Up 2.7%

TPC stock opened at $80.73 on Tuesday. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $4.25 billion, a PE ratio of 54.92 and a beta of 2.05. Tutor Perini Corporation has a twelve month low of $43.52 and a twelve month high of $100.00. The stock has a 50-day simple moving average of $76.68 and a two-hundred day simple moving average of $77.99.

Tutor Perini (NYSE:TPC) last announced its quarterly earnings results on Wednesday, May 6th. The construction company reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.07. Tutor Perini had a net margin of 1.37% and a return on equity of 19.92%. The firm had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same period in the prior year, the firm posted $0.65 earnings per share. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. Tutor Perini has set its FY 2026 guidance at 4.900-5.300 EPS. On average, equities analysts predict that Tutor Perini Corporation will post 5.18 EPS for the current fiscal year.

Tutor Perini Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 21st were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Thursday, May 21st. Tutor Perini’s dividend payout ratio is 16.33%.

Insider Transactions at Tutor Perini

In other Tutor Perini news, Director Robert C. Lieber sold 17,500 shares of the stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $75.36, for a total value of $1,318,800.00. Following the sale, the director directly owned 149,410 shares in the company, valued at $11,259,537.60. This represents a 10.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 15.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Zacks Research upgraded Tutor Perini from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 29th. Wall Street Zen lowered shares of Tutor Perini from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Tutor Perini in a report on Friday. One equities research 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’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $86.50.

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.