JPMorgan Chase & Co. Raises Stake in Tutor Perini Corporation $TPC

JPMorgan Chase & Co. boosted its position in shares of Tutor Perini Corporation (NYSE:TPC) by 15.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 406,546 shares of the construction company’s stock after acquiring an additional 54,248 shares during the period. JPMorgan Chase & Co.’s holdings in Tutor Perini were worth $26,665,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of TPC. Comerica Bank raised its holdings in shares of 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 purchasing an additional 569 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Tutor Perini by 42.0% during the 1st quarter. AQR Capital Management LLC now owns 183,267 shares of the construction company’s stock worth $4,248,000 after purchasing an additional 54,204 shares during the last quarter. Millennium Management LLC grew its stake in shares of Tutor Perini by 165.2% during the first quarter. Millennium Management LLC now owns 383,530 shares of the construction company’s stock worth $8,890,000 after purchasing an additional 238,933 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Tutor Perini by 13.6% during the first quarter. Goldman Sachs Group Inc. now owns 580,821 shares of the construction company’s stock worth $13,463,000 after purchasing an additional 69,489 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Tutor Perini by 2.2% in the second quarter. Geode Capital Management LLC now owns 1,049,338 shares of the construction company’s stock valued at $49,094,000 after buying an additional 22,210 shares during the last quarter. 65.01% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. UBS Group raised 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 reaffirmed a “sell (d-)” rating on shares of Tutor Perini in a research report on Wednesday, January 21st. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Tutor Perini has a consensus rating of “Hold” and an average price target of $86.50.

Insider Transactions at Tutor Perini

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

Tutor Perini Stock Up 4.1%

Shares of NYSE:TPC opened at $72.21 on Tuesday. The firm has a 50 day simple moving average of $77.41 and a 200-day simple moving average of $69.89. Tutor Perini Corporation has a twelve month low of $18.33 and a twelve month high of $89.51. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $3.81 billion, a PE ratio of 47.51 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 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.15. Tutor Perini had a net margin of 1.45% and a return on equity of 18.02%. The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same period last year, the firm posted ($1.49) EPS. The company’s 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 disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Tuesday, March 10th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $0.24 annualized dividend and a dividend yield of 0.3%. Tutor Perini’s dividend payout ratio (DPR) is presently 15.79%.

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.