SummitTX Capital L.P. Takes Position in Tutor Perini Corporation $TPC

SummitTX Capital L.P. purchased a new position in shares of Tutor Perini Corporation (NYSE:TPC) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 11,445 shares of the construction company’s stock, valued at approximately $883,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TPC. Comerica Bank lifted its position in Tutor Perini by 30.7% in the first quarter. Comerica Bank now owns 2,423 shares of the construction company’s stock valued at $56,000 after buying an additional 569 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Tutor Perini by 42.0% during the first quarter. AQR Capital Management LLC now owns 183,267 shares of the construction company’s stock valued at $4,248,000 after acquiring an additional 54,204 shares during the last quarter. Millennium Management LLC increased its position 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 valued at $8,890,000 after acquiring an additional 238,933 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Tutor Perini by 13.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 580,821 shares of the construction company’s stock valued at $13,463,000 after acquiring an additional 69,489 shares during the period. Finally, Norges Bank purchased a new stake in shares of Tutor Perini in the 2nd quarter valued at approximately $691,000. 65.01% of the stock is owned by institutional investors and hedge funds.

Tutor Perini Stock Up 8.6%

Shares of TPC opened at $83.30 on Friday. The stock has a market capitalization of $4.38 billion, a PE ratio of 56.66 and a beta of 2.05. Tutor Perini Corporation has a 1 year low of $43.52 and a 1 year high of $100.00. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.28 and a current ratio of 1.28. The company’s 50-day simple moving average is $77.64 and its 200-day simple moving average is $78.82.

Tutor Perini (NYSE:TPC) last announced its quarterly earnings data on Wednesday, May 6th. The construction company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.07. The firm had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.44 billion. Tutor Perini had a net margin of 1.37% and a return on equity of 19.92%. The business’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.65 earnings per share. Tutor Perini has set its FY 2026 guidance at 4.900-5.300 EPS. Analysts forecast that Tutor Perini Corporation will post 5.18 earnings per share for the current fiscal year.

Tutor Perini Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st were paid a $0.06 dividend. The ex-dividend date was Thursday, May 21st. This represents a $0.24 annualized dividend and a dividend yield of 0.3%. Tutor Perini’s payout ratio is 16.33%.

Analysts Set New Price Targets

TPC has been the subject of a number of research analyst reports. Zacks Research cut shares of Tutor Perini from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Weiss Ratings restated a “sell (d-)” rating on shares of Tutor Perini in a research note on Friday, July 17th. Finally, Wall Street Zen lowered Tutor Perini from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 9th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $86.50.

Insider Buying and Selling at Tutor Perini

In other news, Director Robert C. Lieber sold 17,500 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $75.36, for a total value of $1,318,800.00. Following the sale, the director directly owned 149,410 shares in the company, valued at approximately $11,259,537.60. This trade represents a 10.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 15.40% of the company’s stock.

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.