Caxton Associates LLP Acquires New Holdings in Tutor Perini Corporation $TPC

Caxton Associates LLP bought a new position in Tutor Perini Corporation (NYSE:TPC) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 69,007 shares of the construction company’s stock, valued at approximately $3,228,000. Caxton Associates LLP owned about 0.13% of Tutor Perini as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Comerica Bank lifted its stake in shares of Tutor Perini by 30.7% in the first quarter. Comerica Bank now owns 2,423 shares of the construction company’s stock worth $56,000 after buying an additional 569 shares during the last quarter. AlphaQuest LLC lifted its position 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 acquiring an additional 3,074 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Tutor Perini during the second quarter valued at about $145,000. Lingohr Asset Management GmbH acquired a new stake in shares of Tutor Perini in the second quarter valued at about $206,000. Finally, Corton Capital Inc. acquired a new stake in Tutor Perini in the 2nd quarter valued at approximately $213,000. Institutional investors and hedge funds own 65.01% of the company’s stock.

Tutor Perini Price Performance

Shares of TPC stock opened at $67.34 on Monday. The stock’s fifty day simple moving average is $65.11 and its 200 day simple moving average is $56.54. Tutor Perini Corporation has a one year low of $18.33 and a one year high of $77.00. The firm has a market cap of $3.55 billion, a price-to-earnings ratio of -127.06 and a beta of 2.14. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.30 and a quick ratio of 1.30.

Tutor Perini (NYSE:TPC) last released its quarterly earnings data 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 positive return on equity of 7.07% and a negative net margin of 0.55%.The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same period in the prior year, the company posted ($1.92) earnings per share. The business’s revenue for the quarter 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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 23rd. Stockholders of record on Tuesday, December 9th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Tuesday, December 9th. Tutor Perini’s payout ratio is presently -45.28%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Zacks Research cut Tutor Perini from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. B. Riley reissued a “buy” rating on shares of Tutor Perini in a report on Thursday, November 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Tutor Perini in a report on Wednesday, October 8th. UBS Group upped their price objective on shares of Tutor Perini from $67.00 to $86.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. Finally, Wall Street Zen lowered Tutor Perini from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 22nd. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $80.50.

Insiders Place Their Bets

In related news, Chairman Ronald N. Tutor sold 83,144 shares of the firm’s stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $64.94, for a total transaction of $5,399,371.36. Following the completion of the sale, the chairman directly owned 4,062,985 shares of the company’s stock, valued at $263,850,245.90. This trade represents a 2.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Peter Arkley acquired 15,147 shares of Tutor Perini stock in a transaction on Tuesday, November 25th. The stock was acquired at an average cost of $64.39 per share, for a total transaction of $975,315.33. Following the purchase, the director owned 191,717 shares of the company’s stock, valued at approximately $12,344,657.63. This represents a 8.58% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, 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. Insiders own 17.30% of the company’s stock.

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.