Bailard Inc. Lowers Stock Holdings in Tutor Perini Corporation $TPC

Bailard Inc. reduced its position in Tutor Perini Corporation (NYSE:TPC) by 46.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,300 shares of the construction company’s stock after selling 5,500 shares during the quarter. Bailard Inc.’s holdings in Tutor Perini were worth $295,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. New Age Alpha Advisors LLC acquired a new stake in Tutor Perini during the 1st quarter worth approximately $54,000. Comerica Bank increased its position 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 worth $56,000 after acquiring an additional 569 shares during the period. CWM LLC raised its stake in shares of Tutor Perini by 32.8% in the first quarter. CWM LLC now owns 3,442 shares of the construction company’s stock valued at $80,000 after acquiring an additional 850 shares in the last quarter. AlphaQuest LLC grew its stake in Tutor Perini by 849.2% during the 1st quarter. AlphaQuest LLC now owns 3,436 shares of the construction company’s stock worth $80,000 after purchasing an additional 3,074 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Tutor Perini in the 2nd quarter valued at about $145,000. Institutional investors and hedge funds own 65.01% of the company’s stock.

Insiders Place Their Bets

In other news, Chairman Ronald N. Tutor sold 116,856 shares of the company’s stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $64.21, for a total value of $7,503,323.76. Following the completion of the sale, the chairman directly owned 4,154,129 shares of the company’s stock, valued at approximately $266,736,623.09. This represents a 2.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sidney J. Feltenstein sold 124,668 shares of the firm’s stock in a transaction dated 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 directly owned 187,274 shares in the company, 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 90 days, insiders sold 725,000 shares of company stock worth $44,824,931. 17.30% of the stock is currently owned by company insiders.

Tutor Perini Stock Performance

NYSE TPC opened at $59.08 on Friday. The company has a fifty day moving average of $64.48 and a two-hundred day moving average of $51.51. The company has a market capitalization of $3.12 billion, a PE ratio of -23.44 and a beta of 1.94. Tutor Perini Corporation has a 1 year low of $18.33 and a 1 year 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.

Tutor Perini (NYSE:TPC) last posted its 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 business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.38 billion. Tutor Perini had a negative return on equity of 6.41% and a negative net margin of 2.77%.The business’s quarterly revenue was up 30.7% on a year-over-year basis. During the same period in the previous year, the business earned ($1.92) EPS. Tutor Perini has set its FY 2025 guidance at 4.000-4.200 EPS.

Wall Street Analysts Forecast Growth

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

Tutor Perini 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.