Donald Smith & CO. Inc. Sells 1,114,388 Shares of Tutor Perini Corporation $TPC

Donald Smith & CO. Inc. reduced its position in Tutor Perini Corporation (NYSE:TPC) by 27.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,916,832 shares of the construction company’s stock after selling 1,114,388 shares during the quarter. Tutor Perini comprises about 3.2% of Donald Smith & CO. Inc.’s holdings, making the stock its 11th biggest holding. Donald Smith & CO. Inc. owned 5.53% of Tutor Perini worth $136,449,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Tutor Perini by 4.8% in the 1st quarter. Vanguard Group Inc. now owns 2,829,370 shares of the construction company’s stock worth $65,585,000 after purchasing an additional 130,747 shares in the last quarter. First Trust Advisors LP lifted its position in Tutor Perini by 4,166.1% during the second quarter. First Trust Advisors LP now owns 1,153,214 shares of the construction company’s stock valued at $53,947,000 after purchasing an additional 1,126,182 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Tutor Perini by 2.2% during the 2nd quarter. Geode Capital Management LLC now owns 1,049,338 shares of the construction company’s stock worth $49,094,000 after acquiring an additional 22,210 shares during the last quarter. American Century Companies Inc. lifted its stake in Tutor Perini by 24.5% during the second 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, Boston Partners increased its position in shares of Tutor Perini by 53.3% during the 1st quarter. Boston Partners now owns 928,264 shares of the construction company’s stock valued at $21,509,000 after purchasing an additional 322,814 shares during the last quarter. Hedge funds and other institutional investors own 65.01% of the company’s stock.

Insiders Place Their Bets

In other news, Director Sidney J. Feltenstein sold 124,668 shares of Tutor Perini stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $65.96, for a total transaction of $8,223,101.28. Following the sale, the director owned 187,274 shares in the company, valued at $12,352,593.04. This trade represents a 39.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Ronald N. Tutor sold 116,856 shares of the firm’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $64.21, for a total transaction of $7,503,323.76. Following the transaction, the chairman directly owned 4,154,129 shares of the company’s stock, valued at $266,736,623.09. The trade was a 2.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have acquired 45,000 shares of company stock valued at $2,870,313 and have sold 325,000 shares valued at $21,147,376. 17.30% of the stock is owned by company insiders.

Tutor Perini Stock Performance

Tutor Perini stock opened at $67.81 on Friday. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $3.58 billion, a P/E ratio of -127.93 and a beta of 2.14. Tutor Perini Corporation has a twelve month low of $18.33 and a twelve month high of $77.00. The stock’s 50 day moving average is $64.64 and its 200 day moving average is $55.26.

Tutor Perini (NYSE:TPC) last issued its earnings results on Wednesday, November 5th. The construction company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.19. Tutor Perini had a negative net margin of 0.55% and a positive return on equity of 7.07%. The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter in the prior year, the firm posted ($1.92) earnings per share. The business’s revenue was up 30.7% on a year-over-year basis. Tutor Perini has set its FY 2025 guidance at 4.000-4.200 EPS.

Tutor Perini Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. B. Riley reaffirmed a “buy” rating on shares of Tutor Perini in a research note 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. Zacks Research lowered shares of Tutor Perini from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. UBS Group lifted their target price 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. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Tutor Perini in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Tutor Perini presently has an average rating of “Hold” and an average price target of $66.33.

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.