Savant Capital LLC Takes Position in Tutor Perini Corporation $TPC

Savant Capital LLC purchased a new position in shares of Tutor Perini Corporation (NYSE:TPC) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 5,739 shares of the construction company’s stock, valued at approximately $268,000.

Other hedge funds have also recently added to or reduced their stakes in the company. KLP Kapitalforvaltning AS grew its position in Tutor Perini by 3.1% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 9,900 shares of the construction company’s stock valued at $463,000 after purchasing an additional 300 shares during the period. Aristeia Capital L.L.C. lifted its stake in shares of Tutor Perini by 4.6% in the first quarter. Aristeia Capital L.L.C. now owns 11,957 shares of the construction company’s stock valued at $277,000 after buying an additional 530 shares in the last quarter. Comerica Bank grew its holdings 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 valued at $56,000 after buying an additional 569 shares during the last quarter. CWM LLC increased 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 acquiring an additional 850 shares in the last quarter. Finally, First Wilshire Securities Management Inc. raised its holdings in shares of Tutor Perini by 0.3% in the 1st quarter. First Wilshire Securities Management Inc. now owns 264,758 shares of the construction company’s stock worth $6,137,000 after acquiring an additional 857 shares during the last quarter. Institutional investors and hedge funds own 65.01% of the company’s stock.

Insider Activity at Tutor Perini

In other Tutor Perini news, Chairman Ronald N. Tutor sold 116,856 shares of the business’s stock in a transaction 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 sale, the chairman directly owned 4,154,129 shares in the company, valued at $266,736,623.09. The trade was a 2.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Sidney J. Feltenstein sold 124,668 shares of the stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $65.96, for a total value of $8,223,101.28. Following the transaction, the director owned 187,274 shares of the company’s stock, valued at $12,352,593.04. The trade was a 39.97% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 725,000 shares of company stock worth $44,824,931. 17.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on TPC shares. Zacks Research downgraded Tutor Perini from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. UBS Group raised their target price on Tutor Perini from $67.00 to $86.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tutor Perini in a report on Wednesday, October 8th. B. Riley reissued a “buy” rating on shares of Tutor Perini in a research report on Thursday, November 6th. Finally, Wall Street Zen raised shares of Tutor Perini from a “buy” rating to a “strong-buy” rating in a report on Monday, August 11th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $66.33.

Tutor Perini Trading Up 3.1%

NYSE TPC opened at $60.58 on Wednesday. The business’s fifty day moving average is $64.42 and its 200-day moving average is $52.25. 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 stock has a market capitalization of $3.20 billion, a price-to-earnings ratio of -24.04 and a beta of 1.94. Tutor Perini Corporation has a one year low of $18.33 and a one year high of $77.00.

Tutor Perini (NYSE:TPC) last posted its quarterly earnings results on Wednesday, November 5th. The construction company reported $1.15 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.19. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.38 billion. Tutor Perini had a negative net margin of 2.77% and a negative return on equity of 6.41%. The firm’s revenue for the quarter was up 30.7% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.92) earnings per share. Tutor Perini has set its FY 2025 guidance at 4.000-4.200 EPS.

Tutor Perini Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 23rd. Investors of record on Tuesday, December 9th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Tuesday, December 9th.

Tutor Perini Company 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.