BlackRock Inc. Makes New Investment in Tutor Perini Corporation $TPC

BlackRock Inc. bought a new position in Tutor Perini Corporation (NYSE:TPC) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 4,317,806 shares of the construction company’s stock, valued at approximately $358,248,000. BlackRock Inc. owned 0.08% of Tutor Perini at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Deutsche Bank AG purchased a new stake in shares of Tutor Perini during the 2nd quarter valued at approximately $4,067,000. OneDigital Investment Advisors LLC purchased a new position in Tutor Perini in the 2nd quarter valued at approximately $262,000. Bank of New York Mellon Corp bought a new stake in Tutor Perini during the 2nd quarter valued at $15,055,000. State of Wyoming bought a new stake in Tutor Perini during the 2nd quarter valued at $724,000. Finally, GSA Capital Partners LLP purchased a new stake in shares of Tutor Perini during the second quarter worth $3,085,000. Institutional investors own 65.01% of the company’s stock.

Analysts Set New Price Targets

TPC has been the subject of several recent research reports. Zacks Research cut Tutor Perini from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 28th. 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 research note on Thursday, August 6th. Finally, Wall Street Zen raised shares of Tutor Perini from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 8th. 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 presently has a consensus rating of “Hold” and an average target price of $105.00.

Tutor Perini Price Performance

Tutor Perini stock opened at $87.20 on Wednesday. The stock has a market cap of $4.59 billion, a price-to-earnings ratio of 37.59 and a beta of 2.05. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.29. The business has a 50-day simple moving average of $84.40 and a 200 day simple moving average of $80.72. Tutor Perini Corporation has a 52 week low of $56.62 and a 52 week high of $102.30.

Tutor Perini (NYSE:TPC) last released its quarterly earnings results on Wednesday, August 5th. The construction company reported $1.74 earnings per share for the quarter, beating the consensus estimate of $0.67 by $1.07. The firm had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Tutor Perini had a return on equity of 20.95% and a net margin of 2.08%.The company’s revenue was up 19.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.38 EPS. 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 earnings per share for the current fiscal year.

Tutor Perini Increases Dividend

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

Insider Activity at Tutor Perini

In other news, Director Sidney J. Feltenstein sold 184,209 shares of the stock in a transaction on Friday, August 7th. The shares were sold at an average price of $97.05, for a total value of $17,877,483.45. Following the transaction, the director owned 6,700 shares of the company’s stock, valued at $650,235. This represents a 96.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 15.40% of the stock is owned by insiders.

Tutor Perini 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.