9,000 Tutor Perini Corporation $TPC Shares Sold by Hennessy Advisors Inc.

Hennessy Advisors Inc. cut its stake in Tutor Perini Corporation (NYSE:TPC) by 8.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 92,200 shares of the construction company’s stock after selling 9,000 shares during the period. Hennessy Advisors Inc. owned about 0.18% of Tutor Perini worth $7,608,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in TPC. Silvant Capital Management LLC purchased a new stake in Tutor Perini during the second quarter valued at about $49,000. Allworth Financial LP purchased a new position in shares of Tutor Perini in the 2nd quarter worth about $53,000. Public Employees Retirement System of Ohio purchased a new position in shares of Tutor Perini in the 2nd quarter worth about $56,000. Farther Finance Advisors LLC increased its position in shares of Tutor Perini by 26.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 796 shares of the construction company’s stock valued at $66,000 after purchasing an additional 168 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new position in shares of Tutor Perini during the 2nd quarter valued at about $99,000. Institutional investors own 65.01% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. UBS Group lifted their price target on Tutor Perini from $98.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Weiss Ratings lowered Tutor Perini from a “buy (b-)” rating to a “hold (c)” rating in a research note on Friday, October 23rd. Zacks Research cut shares of Tutor Perini from a “strong-buy” rating to a “hold” rating in a report on Monday, October 5th. Finally, Wall Street Zen raised shares of Tutor Perini from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $105.00.

Insiders Place Their Bets

In related news, Chairman Ronald Tutor sold 2,310,000 shares of the company’s stock in a transaction on Monday, August 31st. The shares were sold at an average price of $85.59, for a total value of $197,712,900.00. Following the completion of the transaction, the chairman owned 701,477 shares of the company’s stock, valued at approximately $60,039,416.43. This represents a 76.71% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Dale Reiss sold 13,400 shares of the stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $92.04, for a total value of $1,233,336.00. Following the sale, the director owned 31,203 shares of the company’s stock, valued at $2,871,924.12. This represents a 30.04% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 2,507,609 shares of company stock worth $216,823,719 over the last three months. 15.40% of the stock is currently owned by company insiders.

Tutor Perini Price Performance

Shares of TPC opened at $79.55 on Monday. The stock has a market cap of $4.19 billion, a PE ratio of 34.29 and a beta of 2.06. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.29 and a current ratio of 1.29. Tutor Perini Corporation has a fifty-two week low of $57.90 and a fifty-two week high of $102.30. The firm’s 50-day simple moving average is $84.46 and its two-hundred day simple moving average is $81.33.

Tutor Perini (NYSE:TPC) last announced its quarterly earnings data on Wednesday, August 5th. The construction company reported $1.74 EPS for the quarter, beating the consensus estimate of $0.67 by $1.07. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.57 billion. Tutor Perini had a net margin of 2.08% and a return on equity of 20.95%. Tutor Perini’s revenue for the quarter was up 19.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.38 EPS. Tutor Perini has set its FY 2026 guidance at 5.150-5.450 EPS. Analysts anticipate that Tutor Perini Corporation will post 5.39 earnings per share for the current fiscal year.

Tutor Perini Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Wednesday, August 19th were issued a dividend of $0.09 per share. This is an increase from Tutor Perini’s previous quarterly dividend of $0.06. This represents a $0.36 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Wednesday, August 19th. Tutor Perini’s payout ratio is presently 15.52%.

About Tutor Perini

Tutor Perini Corporation (NYSE:TPC) is a construction company that provides general contracting, construction management, and design-build services. Its operations are organized around civil, building, and specialty contracting activities, serving public agencies, private developers, and other institutional customers.

The company’s civil construction work includes major infrastructure such as highways, bridges, tunnels, mass-transit systems, airports, water and wastewater facilities, and other transportation and utility projects.