Boston Partners Has $23.56 Million Holdings in Tutor Perini Corporation $TPC

Boston Partners lessened its stake in Tutor Perini Corporation (NYSE:TPC) by 45.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 503,586 shares of the construction company’s stock after selling 424,678 shares during the period. Boston Partners owned about 0.95% of Tutor Perini worth $23,559,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in TPC. Donald Smith & CO. Inc. grew its position in Tutor Perini by 16.8% in the first quarter. Donald Smith & CO. Inc. now owns 4,031,220 shares of the construction company’s stock valued at $93,444,000 after acquiring an additional 580,963 shares during the period. Vanguard Group Inc. boosted its stake in shares of Tutor Perini by 4.8% in the 1st quarter. Vanguard Group Inc. now owns 2,829,370 shares of the construction company’s stock valued at $65,585,000 after purchasing an additional 130,747 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Tutor Perini by 2.2% in the 2nd quarter. Geode Capital Management LLC now owns 1,049,338 shares of the construction company’s stock valued at $49,094,000 after purchasing an additional 22,210 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Tutor Perini by 24.5% in the 2nd quarter. American Century Companies Inc. now owns 989,612 shares of the construction company’s stock worth $46,294,000 after purchasing an additional 194,729 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of Tutor Perini by 34.4% during the 1st quarter. Invesco Ltd. now owns 777,417 shares of the construction company’s stock worth $18,021,000 after purchasing an additional 198,830 shares in the last quarter. 65.01% of the stock is owned by institutional investors and hedge funds.

Tutor Perini Trading Up 1.5%

NYSE:TPC opened at $68.55 on Friday. The company has a market cap of $3.62 billion, a P/E ratio of -27.20 and a beta of 1.94. Tutor Perini Corporation has a twelve month low of $18.33 and a twelve month high of $77.00. The business has a 50 day moving average price of $64.45 and a two-hundred day moving average price of $54.04. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.32.

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 analysts’ consensus estimates of $0.96 by $0.19. Tutor Perini had a negative return on equity of 6.41% and a negative net margin of 2.77%.The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same period last year, the company earned ($1.92) earnings per share. The business’s revenue was up 30.7% compared to the same quarter last year. Tutor Perini has set its FY 2025 guidance at 4.000-4.200 EPS.

Tutor Perini Dividend Announcement

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 paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Tuesday, December 9th. Tutor Perini’s payout ratio is -45.28%.

Insider Activity

In related news, Director Sidney J. Feltenstein sold 124,668 shares of the stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $65.96, for a total value of $8,223,101.28. Following the completion of the transaction, the director owned 187,274 shares of the company’s stock, valued at $12,352,593.04. This represents a 39.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Peter Arkley bought 15,147 shares of the company’s stock in a transaction on Tuesday, November 25th. The stock was purchased at an average price of $64.39 per share, with a total value of $975,315.33. Following the completion of the transaction, the director directly owned 191,717 shares of the company’s stock, valued at approximately $12,344,657.63. The trade was a 8.58% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders acquired 45,000 shares of company stock worth $2,870,313 and sold 369,312 shares worth $23,767,545. 17.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on TPC. Zacks Research lowered Tutor Perini from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. UBS Group upped their price target 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 lowered shares of Tutor Perini from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 22nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tutor Perini in a research note on Wednesday, October 8th. Finally, B. Riley reiterated a “buy” rating on shares of Tutor Perini in a research report on Thursday, November 6th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Tutor Perini has a consensus rating of “Hold” and an average price target 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.