Voya Investment Management LLC Trims Position in Tutor Perini Corporation $TPC

Voya Investment Management LLC trimmed its holdings in shares of Tutor Perini Corporation (NYSE:TPC) by 64.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,041 shares of the construction company’s stock after selling 14,708 shares during the period. Voya Investment Management LLC’s holdings in Tutor Perini were worth $527,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Comerica Bank raised its holdings 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 purchasing an additional 569 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Tutor Perini during the 2nd quarter worth about $145,000. Lingohr Asset Management GmbH purchased a new position in shares of Tutor Perini during the 2nd quarter valued at about $206,000. Corton Capital Inc. acquired a new position in shares of Tutor Perini in the 2nd quarter valued at about $213,000. Finally, John G Ullman & Associates Inc. acquired a new position in shares of Tutor Perini in the 2nd quarter valued at about $234,000. Institutional investors and hedge funds own 65.01% of the company’s stock.

Insider Transactions at Tutor Perini

In other news, CEO Gary G. Smalley bought 5,000 shares of the firm’s stock in a transaction dated Wednesday, November 19th. The shares were acquired at an average price of $61.08 per share, for a total transaction of $305,400.00. Following the completion of the transaction, the chief executive officer directly owned 118,075 shares in the company, valued at $7,212,021. The trade was a 4.42% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Peter Arkley purchased 24,853 shares of the company’s stock in a transaction that occurred on Monday, November 24th. The shares were purchased at an average price of $63.96 per share, with a total value of $1,589,597.88. Following the completion of the transaction, the director directly owned 176,570 shares of the company’s stock, valued at $11,293,417.20. This represents a 16.38% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 45,000 shares of company stock worth $2,870,313 over the last ninety days. 17.30% of the stock is currently owned by corporate insiders.

Tutor Perini Trading Up 3.5%

Shares of NYSE:TPC opened at $69.40 on Friday. The business’s 50 day moving average price is $66.38 and its 200-day moving average price is $59.32. Tutor Perini Corporation has a 1 year low of $18.33 and a 1 year high of $77.00. The firm has a market capitalization of $3.66 billion, a price-to-earnings ratio of -130.93 and a beta of 2.17. 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 issued its quarterly earnings results on Wednesday, November 5th. The construction company reported $1.15 EPS for the quarter, topping the consensus estimate of $0.96 by $0.19. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.38 billion. Tutor Perini had a negative net margin of 0.55% and a positive return on equity of 7.07%. The firm’s revenue was up 30.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.92) EPS. Tutor Perini has set its FY 2025 guidance at 4.000-4.200 EPS.

Tutor Perini Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 23rd. Investors of record on Tuesday, December 9th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Tuesday, December 9th. Tutor Perini’s dividend payout ratio is -45.28%.

Wall Street Analysts Forecast Growth

TPC has been the topic of several analyst reports. B. Riley reaffirmed a “buy” rating on shares of Tutor Perini in a report on Thursday, November 6th. Wall Street Zen cut shares of Tutor Perini from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 22nd. Zacks Research lowered shares of Tutor Perini from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. UBS Group increased their price target on shares of Tutor Perini from $67.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Tutor Perini in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $80.50.

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.