Hodges Capital Management Inc. Invests $3.89 Million in Tutor Perini Corporation $TPC

Hodges Capital Management Inc. acquired a new stake in Tutor Perini Corporation (NYSE:TPC) in the 2nd quarter, HoldingsChannel reports. The fund acquired 83,045 shares of the construction company’s stock, valued at approximately $3,885,000.

Other large investors have also recently added to or reduced their stakes in the company. KLP Kapitalforvaltning AS lifted its holdings in Tutor Perini by 3.1% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 9,900 shares of the construction company’s stock worth $463,000 after buying an additional 300 shares in the last quarter. Aristeia Capital L.L.C. grew its stake in shares of Tutor Perini by 4.6% in the first quarter. Aristeia Capital L.L.C. now owns 11,957 shares of the construction company’s stock worth $277,000 after acquiring an additional 530 shares in the last quarter. Comerica Bank increased its position in shares of Tutor Perini by 30.7% during the first quarter. Comerica Bank now owns 2,423 shares of the construction company’s stock worth $56,000 after acquiring an additional 569 shares during the period. CWM LLC raised its stake in shares of Tutor Perini by 32.8% in the first quarter. CWM LLC now owns 3,442 shares of the construction company’s stock valued at $80,000 after acquiring an additional 850 shares in the last quarter. Finally, First Wilshire Securities Management Inc. boosted its holdings in Tutor Perini by 0.3% in the first quarter. First Wilshire Securities Management Inc. now owns 264,758 shares of the construction company’s stock valued at $6,137,000 after purchasing an additional 857 shares during the period. 65.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TPC has been the subject of several analyst reports. Wall Street Zen raised Tutor Perini from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 11th. UBS Group boosted their price objective on Tutor Perini from $67.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday. Weiss Ratings restated a “sell (d-)” rating on shares of Tutor Perini in a research note on Wednesday, October 8th. Zacks Research cut shares of Tutor Perini from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Finally, B. Riley reiterated a “buy” rating on shares of Tutor Perini in a report on Thursday. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $66.33.

Insider Buying and Selling at Tutor Perini

In related news, Director Sidney J. Feltenstein sold 124,668 shares of the business’s stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $65.96, for a total value of $8,223,101.28. Following the completion of the sale, the director directly owned 187,274 shares of the company’s stock, valued at $12,352,593.04. The trade was a 39.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Ronald N. Tutor sold 83,144 shares of the company’s stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $64.94, for a total transaction of $5,399,371.36. Following the completion of the transaction, the chairman owned 4,062,985 shares of the company’s stock, valued at $263,850,245.90. This represents a 2.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 725,000 shares of company stock worth $44,824,931 over the last quarter. 17.30% of the stock is owned by company insiders.

Tutor Perini Price Performance

TPC stock opened at $62.97 on Monday. The business has a 50 day moving average price of $64.34 and a 200 day moving average price of $50.30. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.32. The stock has a market cap of $3.32 billion, a price-to-earnings ratio of -24.99 and a beta of 1.94. Tutor Perini Corporation has a fifty-two week low of $18.33 and a fifty-two week high of $77.00.

Tutor Perini (NYSE:TPC) last released its quarterly earnings data on Wednesday, November 5th. The construction company reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.19. The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.38 billion. Tutor Perini had a negative net margin of 2.77% and a negative return on equity of 6.41%. The firm’s revenue for the quarter was up 30.7% on a year-over-year basis. During the same quarter last year, the company earned ($1.92) earnings per share. Tutor Perini has set its FY 2025 guidance at 4.000-4.200 EPS.

About Tutor Perini

Tutor Perini Corporation, a construction company, provides diversified general contracting, construction management, and design-build services to private customers and public agencies in the United States and internationally. It operates through three segments: Civil, Building, and Specialty Contractors.