Neo Ivy Capital Management Acquires New Shares in Tutor Perini Corporation $TPC

Neo Ivy Capital Management acquired a new position in Tutor Perini Corporation (NYSE:TPC) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 53,236 shares of the construction company’s stock, valued at approximately $2,490,000.

Several other hedge funds also recently modified their holdings of the business. KLP Kapitalforvaltning AS raised its holdings in Tutor Perini by 3.1% during the second quarter. KLP Kapitalforvaltning AS now owns 9,900 shares of the construction company’s stock valued at $463,000 after buying an additional 300 shares in the last quarter. Aristeia Capital L.L.C. increased its holdings in shares of Tutor Perini by 4.6% during the 1st quarter. Aristeia Capital L.L.C. now owns 11,957 shares of the construction company’s stock valued at $277,000 after acquiring an additional 530 shares during the last quarter. Comerica Bank raised its stake in shares of Tutor Perini by 30.7% in the 1st quarter. Comerica Bank now owns 2,423 shares of the construction company’s stock valued at $56,000 after acquiring an additional 569 shares in the last quarter. Police & Firemen s Retirement System of New Jersey lifted its holdings in Tutor Perini by 6.7% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 10,176 shares of the construction company’s stock worth $476,000 after purchasing an additional 639 shares during the last quarter. Finally, CWM LLC boosted its position in 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. Institutional investors and hedge funds own 65.01% of the company’s stock.

Tutor Perini Stock Performance

NYSE TPC opened at $59.76 on Friday. The company’s fifty day moving average is $64.31 and its two-hundred day moving average is $52.56. Tutor Perini Corporation has a 52-week low of $18.33 and a 52-week high of $77.00. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.32 and a quick ratio of 1.32. The firm has a market capitalization of $3.15 billion, a price-to-earnings ratio of -23.71 and a beta of 1.94.

Tutor Perini (NYSE:TPC) last announced its quarterly earnings data 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 business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the prior year, the business earned ($1.92) earnings per share. The firm’s revenue for the quarter was up 30.7% on a year-over-year basis. Tutor Perini has set its FY 2025 guidance at 4.000-4.200 EPS.

Tutor Perini Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 23rd. Stockholders 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 dividend yield of 0.4%. The ex-dividend date of this dividend is Tuesday, December 9th.

Insider Activity

In other Tutor Perini news, CEO Gary G. Smalley purchased 5,000 shares of the stock in a transaction on Wednesday, November 19th. The shares were purchased at an average price of $61.08 per share, with a total value of $305,400.00. Following the acquisition, the chief executive officer directly owned 118,075 shares of the company’s stock, valued at $7,212,021. This represents a 4.42% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Sidney J. Feltenstein sold 124,668 shares of the 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 owned 187,274 shares of the company’s stock, valued at approximately $12,352,593.04. This represents a 39.97% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 645,000 shares of company stock worth $40,132,931. Company insiders own 17.30% of the company’s stock.

Wall Street Analysts Forecast Growth

TPC has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Tutor Perini in a research report on Wednesday, October 8th. B. Riley reiterated a “buy” rating on shares of Tutor Perini in a report on Thursday, November 6th. UBS Group boosted their target price 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. Wall Street Zen raised Tutor Perini from a “buy” rating to a “strong-buy” rating in a research report on Monday, August 11th. Finally, Zacks Research lowered 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 assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $66.33.

About Tutor Perini

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.