20,048 Shares in Tutor Perini Corporation $TPC Bought by Convergence Investment Partners LLC

Convergence Investment Partners LLC purchased a new stake in Tutor Perini Corporation (NYSE:TPC) in the third quarter, HoldingsChannel.com reports. The fund purchased 20,048 shares of the construction company’s stock, valued at approximately $1,315,000.

Several other institutional investors and hedge funds have also bought and sold shares of TPC. Comerica Bank increased its holdings in Tutor Perini by 30.7% in the 1st quarter. Comerica Bank now owns 2,423 shares of the construction company’s stock valued at $56,000 after buying an additional 569 shares during the period. USA Financial Formulas acquired a new stake in shares of Tutor Perini during the 3rd quarter worth approximately $90,000. State of Alaska Department of Revenue bought a new position in Tutor Perini in the third quarter valued at approximately $192,000. Principal Financial Group Inc. bought a new position in Tutor Perini in the third quarter valued at approximately $204,000. Finally, Corton Capital Inc. acquired a new position in Tutor Perini during the second quarter valued at approximately $213,000. Institutional investors own 65.01% of the company’s stock.

Tutor Perini Price Performance

Shares of TPC opened at $79.95 on Tuesday. 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 stock has a market cap of $4.22 billion, a PE ratio of -150.85 and a beta of 2.20. Tutor Perini Corporation has a 12-month low of $18.33 and a 12-month high of $81.65. The business has a 50-day simple moving average of $71.04 and a two-hundred day simple moving average of $64.01.

Tutor Perini (NYSE:TPC) last released its quarterly earnings results on Wednesday, November 5th. The construction company reported $1.15 earnings per share 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 company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.38 billion. During the same period in the previous year, the business posted ($1.92) earnings per share. The business’s quarterly 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 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 23rd. Shareholders of record on Tuesday, December 9th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.3%. The ex-dividend date was Tuesday, December 9th. Tutor Perini’s dividend payout ratio is -45.28%.

Analysts Set New Price Targets

TPC has been the topic of a number of research analyst reports. UBS Group raised 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. B. Riley restated a “buy” rating on shares of Tutor Perini in a research report on Thursday, November 6th. Wall Street Zen lowered Tutor Perini from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 22nd. Zacks Research downgraded Tutor Perini from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Tutor Perini in a research note on Wednesday, January 21st. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $80.50.

Insider Buying and Selling at Tutor Perini

In related news, CEO Gary G. Smalley bought 5,000 shares of the stock in a transaction that occurred on Wednesday, November 19th. The stock was acquired at an average cost of $61.08 per share, with a total value of $305,400.00. Following the transaction, the chief executive officer directly owned 118,075 shares in the company, valued at approximately $7,212,021. This trade represents a 4.42% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Peter Arkley bought 24,853 shares of the business’s stock in a transaction on Monday, November 24th. The shares were bought at an average cost of $63.96 per share, for a total transaction of $1,589,597.88. Following the completion of the acquisition, the director directly owned 176,570 shares in the company, valued at approximately $11,293,417.20. This trade represents a 16.38% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 45,000 shares of company stock valued at $2,870,313 in the last ninety days. Insiders own 17.30% of the company’s stock.

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.