Handelsbanken Fonder AB Takes $751,000 Position in Tutor Perini Corporation $TPC

Handelsbanken Fonder AB acquired a new stake in shares of Tutor Perini Corporation (NYSE:TPC) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 11,200 shares of the construction company’s stock, valued at approximately $751,000.

A number of other hedge funds also recently modified their holdings of TPC. Comerica Bank lifted its holdings in shares of 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 purchasing an additional 569 shares in the last quarter. AQR Capital Management LLC grew its position in shares of Tutor Perini by 42.0% in the first quarter. AQR Capital Management LLC now owns 183,267 shares of the construction company’s stock valued at $4,248,000 after purchasing an additional 54,204 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Tutor Perini by 165.2% in the first quarter. Millennium Management LLC now owns 383,530 shares of the construction company’s stock valued at $8,890,000 after buying an additional 238,933 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Tutor Perini by 13.6% in the first quarter. Goldman Sachs Group Inc. now owns 580,821 shares of the construction company’s stock valued at $13,463,000 after buying an additional 69,489 shares during the period. Finally, Norges Bank bought a new stake in shares of Tutor Perini in the second quarter valued at about $691,000. Hedge funds and other institutional investors own 65.01% of the company’s stock.

Tutor Perini Price Performance

TPC opened at $74.40 on Thursday. The company has a fifty day moving average price of $80.32 and a two-hundred day moving average price of $75.13. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.28 and a current ratio of 1.28. Tutor Perini Corporation has a 52 week low of $36.22 and a 52 week high of $100.00. The firm has a market capitalization of $3.91 billion, a PE ratio of 50.61 and a beta of 2.18.

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

Tutor Perini Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st will be issued a $0.06 dividend. The ex-dividend date of this dividend is 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%.

Insider Activity at Tutor Perini

In related news, Director Robert C. Lieber sold 10,000 shares of the company’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $74.25, for a total value of $742,500.00. Following the completion of the transaction, the director directly owned 164,573 shares of the company’s stock, valued at approximately $12,219,545.25. This represents a 5.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Gary G. Smalley bought 10,000 shares of Tutor Perini stock in a transaction that occurred on Wednesday, March 4th. The stock was bought at an average cost of $73.24 per share, with a total value of $732,400.00. Following the completion of the purchase, the chief executive officer owned 91,479 shares in the company, valued at approximately $6,699,921.96. This trade represents a 12.27% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have purchased 35,000 shares of company stock valued at $2,556,404. 15.40% of the stock is owned by corporate insiders.

Analyst Ratings Changes

TPC has been the subject of a number of analyst reports. UBS Group raised their price target on shares of Tutor Perini from $86.00 to $98.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. Wall Street Zen cut shares of Tutor Perini from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Tutor Perini in a research note on Monday, April 20th. Two investment 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. Based on data from MarketBeat, Tutor Perini currently has an average rating of “Hold” and an average price target of $86.50.

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.