Assenagon Asset Management S.A. Sells 7,128 Shares of Tutor Perini Corporation $TPC

Assenagon Asset Management S.A. cut its position in Tutor Perini Corporation (NYSE:TPC) by 47.9% during the first quarter, Holdings Channel.com reports. The institutional investor owned 7,768 shares of the construction company’s stock after selling 7,128 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Tutor Perini were worth $600,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Comerica Bank boosted its holdings 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 worth $56,000 after acquiring an additional 569 shares in the last quarter. AQR Capital Management LLC increased its holdings in Tutor Perini by 42.0% during the 1st quarter. AQR Capital Management LLC now owns 183,267 shares of the construction company’s stock valued at $4,248,000 after purchasing an additional 54,204 shares in the last quarter. Millennium Management LLC raised its position in Tutor Perini by 165.2% in 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. Goldman Sachs Group Inc. raised its position in Tutor Perini by 13.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 580,821 shares of the construction company’s stock valued at $13,463,000 after purchasing an additional 69,489 shares during the last quarter. Finally, Norges Bank acquired a new position in Tutor Perini in the second quarter worth $691,000. 65.01% of the stock is owned by institutional investors.

Tutor Perini Price Performance

Shares of TPC stock opened at $76.69 on Friday. The stock has a 50-day moving average price of $79.18 and a 200 day moving average price of $77.24. 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 cap of $4.04 billion, a price-to-earnings ratio of 52.17 and a beta of 2.05. Tutor Perini Corporation has a 12 month low of $43.52 and a 12 month high of $100.00.

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

Tutor Perini Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts have recently commented on TPC shares. Weiss Ratings restated a “sell (d-)” rating on shares of Tutor Perini in a report on Monday, April 20th. Zacks Research upgraded shares of Tutor Perini from a “hold” rating to a “strong-buy” rating in a research report on Monday. Finally, Wall Street Zen lowered shares of Tutor Perini from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Tutor Perini has an average rating of “Moderate Buy” and a consensus target price of $86.50.

Insider Transactions at Tutor Perini

In other Tutor Perini news, Director Robert C. Lieber sold 17,500 shares of the firm’s 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 transaction, the director directly owned 149,410 shares of the company’s stock, valued at approximately $11,259,537.60. This trade represents a 10.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 15.40% of the company’s stock.

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.