Tutor Perini Corporation $TPC Shares Acquired by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lifted its position in Tutor Perini Corporation (NYSE:TPC) by 520.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 158,502 shares of the construction company’s stock after purchasing an additional 132,973 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.30% of Tutor Perini worth $7,415,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp raised its position in Tutor Perini by 7.6% during the 1st quarter. Bank of New York Mellon Corp now owns 127,546 shares of the construction company’s stock worth $2,957,000 after buying an additional 9,001 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Tutor Perini by 7.5% in the first quarter. Envestnet Asset Management Inc. now owns 15,677 shares of the construction company’s stock worth $363,000 after acquiring an additional 1,096 shares during the period. New York State Common Retirement Fund raised its holdings in shares of Tutor Perini by 8.8% during the first quarter. New York State Common Retirement Fund now owns 12,358 shares of the construction company’s stock worth $286,000 after purchasing an additional 1,000 shares during the last quarter. CWM LLC lifted its position in Tutor Perini by 32.8% during the first quarter. CWM LLC now owns 3,442 shares of the construction company’s stock valued at $80,000 after purchasing an additional 850 shares during the period. Finally, Victory Capital Management Inc. acquired a new position in Tutor Perini during the first quarter valued at $1,244,000. Hedge funds and other institutional investors own 65.01% of the company’s stock.

Tutor Perini Stock Down 0.4%

Shares of TPC opened at $62.35 on Thursday. The firm has a market cap of $3.29 billion, a P/E ratio of -24.74 and a beta of 1.94. Tutor Perini Corporation has a 12 month low of $18.33 and a 12 month high of $77.00. The stock’s 50 day moving average is $64.58 and its two-hundred day moving average is $51.18. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.32.

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

Analyst Ratings Changes

A number of equities analysts have weighed in on TPC shares. UBS Group lifted their price objective on Tutor Perini from $67.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. Zacks Research cut Tutor Perini from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. B. Riley reissued a “buy” rating on shares of Tutor Perini in a report on Thursday, November 6th. Wall Street Zen upgraded Tutor Perini from a “buy” rating to a “strong-buy” rating in a research report on Monday, August 11th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tutor Perini in a report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Tutor Perini has a consensus rating of “Hold” and an average target price of $66.33.

Insider Activity

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

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.