Assenagon Asset Management S.A. Sells 705,509 Shares of Tutor Perini Corporation $TPC

Assenagon Asset Management S.A. trimmed its stake in shares of Tutor Perini Corporation (NYSE:TPC) by 97.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,896 shares of the construction company’s stock after selling 705,509 shares during the period. Assenagon Asset Management S.A.’s holdings in Tutor Perini were worth $998,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Diversified Trust Co. lifted its holdings in shares of Tutor Perini by 50.4% during the 4th quarter. Diversified Trust Co. now owns 7,639 shares of the construction company’s stock valued at $512,000 after buying an additional 2,560 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Tutor Perini by 131.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,572 shares of the construction company’s stock worth $610,000 after acquiring an additional 4,861 shares during the period. JPMorgan Chase & Co. increased its position in Tutor Perini by 15.4% during the third quarter. JPMorgan Chase & Co. now owns 406,546 shares of the construction company’s stock valued at $26,665,000 after acquiring an additional 54,248 shares during the last quarter. Cambria Investment Management L.P. increased its position in Tutor Perini by 25.0% during the third quarter. Cambria Investment Management L.P. now owns 21,767 shares of the construction company’s stock valued at $1,428,000 after acquiring an additional 4,347 shares during the last quarter. Finally, CIBC Bancorp USA Inc. bought a new position in Tutor Perini in the third quarter valued at about $311,000. Institutional investors own 65.01% of the company’s stock.

Insider Transactions at Tutor Perini

In other Tutor Perini news, Director Peter Arkley bought 8,117 shares of the business’s stock in a transaction that occurred on Friday, March 6th. The stock was purchased at an average cost of $73.02 per share, with a total value of $592,703.34. Following the completion of the acquisition, the director owned 216,717 shares in the company, valued at $15,824,675.34. This trade represents a 3.89% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gary G. Smalley purchased 10,000 shares of Tutor Perini stock in a transaction that occurred on Wednesday, March 4th. The stock was acquired at an average price of $73.24 per share, for a total transaction of $732,400.00. Following the transaction, the chief executive officer directly owned 91,479 shares of the company’s stock, valued at $6,699,921.96. The trade was a 12.27% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 35,000 shares of company stock worth $2,556,404 over the last quarter. 17.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on TPC. UBS Group boosted their price target on Tutor Perini from $86.00 to $98.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Tutor Perini in a report on Wednesday, January 21st. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Tutor Perini has an average rating of “Hold” and an average target price of $86.50.

Tutor Perini Trading Up 5.9%

Tutor Perini stock opened at $77.14 on Wednesday. Tutor Perini Corporation has a 1 year low of $18.33 and a 1 year high of $89.51. The firm’s 50 day moving average price is $77.59 and its 200-day moving average price is $70.47. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.27 and a quick ratio of 1.27. The stock has a market cap of $4.07 billion, a P/E ratio of 50.75 and a beta of 2.23.

Tutor Perini (NYSE:TPC) last posted its earnings results on Thursday, February 26th. The construction company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.15. Tutor Perini had a net margin of 1.45% and a return on equity of 18.02%. The company had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same period last year, the company posted ($1.49) earnings per share. Tutor Perini’s quarterly revenue was up 41.2% on a year-over-year basis. Tutor Perini has set its FY 2026 guidance at 4.900-5.300 EPS.

Tutor Perini Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 26th. Investors of record on Tuesday, March 10th were given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Tuesday, March 10th. Tutor Perini’s payout ratio is currently 15.79%.

Tutor Perini Company Profile

Tutor Perini Corporation is a leading U.S. construction company that provides diversified general contracting, construction management and design-build services to private clients and public agencies. The company operates through three principal market segments—Civil, Building and Specialty Contractors—serving a broad range of infrastructure and vertical construction needs.

In its Civil segment, Tutor Perini delivers heavy civil infrastructure projects including highways and bridges, water management, dams, tunnels and rail systems.