Sculati Wealth Management LLC Sells 30,006 Shares of Tutor Perini Corporation $TPC

Sculati Wealth Management LLC trimmed its holdings in shares of Tutor Perini Corporation (NYSE:TPC) by 31.5% in the second quarter, according to its most recent filing with the SEC. The firm owned 65,388 shares of the construction company’s stock after selling 30,006 shares during the period. Tutor Perini makes up about 1.1% of Sculati Wealth Management LLC’s investment portfolio, making the stock its 24th biggest position. Sculati Wealth Management LLC’s holdings in Tutor Perini were worth $3,059,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Donald Smith & CO. Inc. raised its position in Tutor Perini by 16.8% in the first quarter. Donald Smith & CO. Inc. now owns 4,031,220 shares of the construction company’s stock worth $93,444,000 after purchasing an additional 580,963 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Tutor Perini by 4.8% in the 1st quarter. Vanguard Group Inc. now owns 2,829,370 shares of the construction company’s stock valued at $65,585,000 after purchasing an additional 130,747 shares during the period. Geode Capital Management LLC raised its holdings in shares of Tutor Perini by 2.2% in the 2nd quarter. Geode Capital Management LLC now owns 1,049,338 shares of the construction company’s stock worth $49,094,000 after buying an additional 22,210 shares in the last quarter. Boston Partners raised its holdings in shares of Tutor Perini by 53.3% in the 1st quarter. Boston Partners now owns 928,264 shares of the construction company’s stock worth $21,509,000 after buying an additional 322,814 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Tutor Perini by 34.4% during the 1st quarter. Invesco Ltd. now owns 777,417 shares of the construction company’s stock worth $18,021,000 after buying an additional 198,830 shares during the period. Institutional investors own 65.01% of the company’s stock.

Analyst Ratings Changes

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

Insider Activity at Tutor Perini

In other news, Director Sidney J. Feltenstein sold 124,668 shares of the business’s stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $65.96, for a total transaction of $8,223,101.28. Following the completion of the sale, the director owned 187,274 shares in the company, valued at $12,352,593.04. The trade was a 39.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Ronald N. Tutor sold 116,856 shares of the company’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $64.21, for a total value of $7,503,323.76. Following the transaction, the chairman directly owned 4,154,129 shares in the company, valued at $266,736,623.09. This trade represents a 2.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 725,000 shares of company stock valued at $44,824,931 in the last 90 days. 17.30% of the stock is currently owned by corporate insiders.

Tutor Perini Stock Down 0.9%

Shares of NYSE TPC opened at $59.08 on Friday. The firm’s 50-day simple moving average is $64.48 and its 200 day simple moving average is $51.30. The company has a market cap of $3.12 billion, a price-to-earnings ratio of -23.44 and a beta of 1.94. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.32. Tutor Perini Corporation has a 12-month low of $18.33 and a 12-month high of $77.00.

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

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.