Formula Growth Ltd. Acquires Shares of 24,586 Tutor Perini Corporation $TPC

Formula Growth Ltd. acquired a new stake in Tutor Perini Corporation (NYSE:TPC) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 24,586 shares of the construction company’s stock, valued at approximately $2,040,000.

Several other institutional investors have also recently made changes to their positions in the business. Public Employees Retirement System of Ohio acquired a new position in Tutor Perini during the second quarter valued at $56,000. Capstone Investment Advisors LLC acquired a new stake in Tutor Perini during the 2nd quarter worth about $896,000. Corient Private Wealth LP acquired a new stake in Tutor Perini during the 2nd quarter worth about $411,000. Bank of America Corp DE purchased a new position in shares of Tutor Perini during the 2nd quarter valued at about $27,305,000. Finally, Freestone Grove Partners LP purchased a new position in shares of Tutor Perini during the 2nd quarter valued at about $782,000. Hedge funds and other institutional investors own 65.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Tutor Perini in a report on Friday, July 17th. UBS Group raised their target price on Tutor Perini from $98.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Wall Street Zen upgraded Tutor Perini from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Finally, Zacks Research downgraded Tutor Perini from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 28th. Two 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. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $105.00.

Insiders Place Their Bets

In other Tutor Perini news, Director Sidney J. Feltenstein sold 184,209 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $97.05, for a total transaction of $17,877,483.45. Following the transaction, the director owned 6,700 shares in the company, valued at approximately $650,235. This represents a 96.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 15.40% of the company’s stock.

Tutor Perini Stock Up 4.5%

TPC stock opened at $92.49 on Friday. Tutor Perini Corporation has a one year low of $56.62 and a one year high of $102.30. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.29 and a current ratio of 1.29. The firm’s fifty day moving average is $84.90 and its 200 day moving average is $80.85. The firm has a market cap of $4.87 billion, a PE ratio of 39.87 and a beta of 2.05.

Tutor Perini (NYSE:TPC) last issued its quarterly earnings data on Wednesday, August 5th. The construction company reported $1.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $1.07. Tutor Perini had a net margin of 2.08% and a return on equity of 20.95%. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter in the prior year, the firm posted $0.38 earnings per share. The company’s revenue was up 19.2% compared to the same quarter last year. Tutor Perini has set its FY 2026 guidance at 5.150-5.450 EPS. On average, research analysts forecast that Tutor Perini Corporation will post 5.48 EPS for the current year.

Tutor Perini Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Wednesday, August 19th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Wednesday, August 19th. This is a positive change from Tutor Perini’s previous quarterly dividend of $0.06. Tutor Perini’s payout ratio is currently 15.52%.

About Tutor Perini

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.