Tutor Perini Corporation $TPC Stock Purchased by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. lifted its holdings in shares of Tutor Perini Corporation (NYSE:TPC) by 3.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 197,390 shares of the construction company’s stock after acquiring an additional 6,967 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Tutor Perini were worth $16,289,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TPC. BlackRock Inc. purchased a new stake in Tutor Perini in the second quarter worth $358,248,000. Principal Financial Group Inc. bought a new stake in Tutor Perini in the first quarter valued at $59,754,000. Donald Smith & CO. Inc. purchased a new position in Tutor Perini during the 2nd quarter valued at $40,407,000. Copeland Capital Management LLC purchased a new position in Tutor Perini during the 3rd quarter valued at $30,446,000. Finally, First Trust Advisors LP increased its position in Tutor Perini by 32.7% during the 1st quarter. First Trust Advisors LP now owns 1,358,899 shares of the construction company’s stock valued at $104,893,000 after purchasing an additional 334,632 shares during the period. Institutional investors own 65.01% of the company’s stock.

Insiders Place Their Bets

In other Tutor Perini news, Director Dale Reiss sold 13,400 shares of the firm’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $92.04, for a total transaction of $1,233,336.00. Following the completion of the transaction, the director owned 31,203 shares of the company’s stock, valued at approximately $2,871,924.12. This trade represents a 30.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Sidney Feltenstein sold 184,209 shares of the business’s stock in a transaction on 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 sale, the director owned 6,700 shares in the company, valued at approximately $650,235. This trade represents a 96.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 2,507,609 shares of company stock worth $216,823,719. 15.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have commented on TPC shares. 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. Zacks Research lowered shares of Tutor Perini from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. Weiss Ratings raised shares of Tutor Perini from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. Finally, Wall Street Zen upgraded shares of Tutor Perini from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $105.00.

Tutor Perini Stock Down 0.4%

Shares of NYSE:TPC opened at $77.93 on Wednesday. Tutor Perini Corporation has a 52-week low of $57.90 and a 52-week high of $102.30. The firm has a market capitalization of $4.10 billion, a P/E ratio of 33.59 and a beta of 2.06. The stock has a 50 day moving average price of $86.64 and a 200-day moving average price of $82.93. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.29 and a current ratio of 1.29.

Tutor Perini (NYSE:TPC) last released its earnings results on Wednesday, August 5th. The construction company reported $1.74 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.57 billion. During the same quarter last year, the business posted $0.38 EPS. The firm’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. As a group, equities research analysts anticipate that Tutor Perini Corporation will post 5.39 EPS for the current fiscal year.

Tutor Perini Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Wednesday, August 19th were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.5%. This is a positive change from Tutor Perini’s previous quarterly dividend of $0.06. The ex-dividend date was Wednesday, August 19th. Tutor Perini’s dividend payout ratio is currently 15.52%.

Tutor Perini Profile

Tutor Perini Corporation (NYSE:TPC) is a construction company that provides general contracting, construction management, and design-build services. Its operations are organized around civil, building, and specialty contracting activities, serving public agencies, private developers, and other institutional customers.

The company’s civil construction work includes major infrastructure such as highways, bridges, tunnels, mass-transit systems, airports, water and wastewater facilities, and other transportation and utility projects.