First Wilshire Securities Management Inc. Sells 101,012 Shares of Tutor Perini Corporation $TPC

First Wilshire Securities Management Inc. lowered its stake in shares of Tutor Perini Corporation (NYSE:TPC) by 38.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 163,746 shares of the construction company’s stock after selling 101,012 shares during the period. Tutor Perini accounts for about 2.1% of First Wilshire Securities Management Inc.’s investment portfolio, making the stock its 15th largest position. First Wilshire Securities Management Inc. owned about 0.31% of Tutor Perini worth $7,660,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. New Age Alpha Advisors LLC bought a new position in shares of Tutor Perini during the first quarter worth $54,000. Comerica Bank lifted its stake in Tutor Perini by 30.7% in the 1st quarter. Comerica Bank now owns 2,423 shares of the construction company’s stock worth $56,000 after purchasing an additional 569 shares in the last quarter. AlphaQuest LLC lifted its stake in Tutor Perini by 849.2% in the 1st quarter. AlphaQuest LLC now owns 3,436 shares of the construction company’s stock worth $80,000 after purchasing an additional 3,074 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Tutor Perini during the 2nd quarter valued at about $145,000. Finally, Aigen Investment Management LP purchased a new position in shares of Tutor Perini during the first quarter valued at about $200,000. Hedge funds and other institutional investors own 65.01% of the company’s stock.

Insider Activity

In other news, Director Peter Arkley purchased 15,147 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The shares were bought at an average cost of $64.39 per share, for a total transaction of $975,315.33. Following the acquisition, the director owned 191,717 shares of the company’s stock, valued at approximately $12,344,657.63. This trade represents a 8.58% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Ronald N. Tutor sold 83,144 shares of the stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $64.94, for a total transaction of $5,399,371.36. Following the completion of the sale, the chairman directly owned 4,062,985 shares in the company, valued at $263,850,245.90. This trade represents a 2.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders acquired 45,000 shares of company stock worth $2,870,313 and sold 325,000 shares worth $21,147,376. 17.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TPC. B. Riley reaffirmed a “buy” rating on shares of Tutor Perini in a report on Thursday, November 6th. Wall Street Zen cut Tutor Perini from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 22nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tutor Perini in a research note on Wednesday, October 8th. UBS Group increased their target price on Tutor Perini from $67.00 to $86.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. Finally, Zacks Research lowered shares of Tutor Perini from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Three equities research 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. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $66.33.

Tutor Perini Trading Down 1.2%

Shares of TPC stock opened at $67.81 on Monday. The company has a market cap of $3.58 billion, a PE ratio of -127.93 and a beta of 2.14. Tutor Perini Corporation has a 1 year low of $18.33 and a 1 year high of $77.00. The stock’s 50 day simple moving average is $64.64 and its two-hundred day simple moving average is $55.40. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.30 and a quick ratio of 1.30.

Tutor Perini (NYSE:TPC) last announced its earnings results on Wednesday, November 5th. The construction company reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.19. Tutor Perini had a positive return on equity of 7.07% and a negative net margin of 0.55%.The firm had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same quarter in the previous year, the business earned ($1.92) EPS. The company’s quarterly revenue was up 30.7% on a year-over-year basis. Tutor Perini has set its FY 2025 guidance at 4.000-4.200 EPS.

Tutor Perini Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 23rd. Shareholders of record on Tuesday, December 9th will be given a dividend of $0.06 per share. The ex-dividend date is Tuesday, December 9th. This represents a $0.24 dividend on an annualized basis and a yield of 0.4%.

Tutor Perini Profile

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.