Savant Capital LLC Takes $268,000 Position in Tutor Perini Corporation $TPC

Savant Capital LLC purchased a new stake in shares of Tutor Perini Corporation (NYSE:TPC) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 5,739 shares of the construction company’s stock, valued at approximately $268,000.

A number of other institutional investors have also added to or reduced their stakes in TPC. Donald Smith & CO. Inc. boosted 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 valued at $93,444,000 after buying an additional 580,963 shares in the last quarter. Pacer Advisors Inc. bought a new position in shares of Tutor Perini in the 1st quarter valued at $13,122,000. Amanah Holdings Trust bought a new position in shares of Tutor Perini in the 2nd quarter valued at $19,163,000. Boston Partners boosted its holdings in shares of Tutor Perini by 53.3% during the 1st quarter. Boston Partners now owns 928,264 shares of the construction company’s stock valued at $21,509,000 after acquiring an additional 322,814 shares in the last quarter. Finally, Millennium Management LLC grew its position in Tutor Perini by 165.2% during the 1st quarter. Millennium Management LLC now owns 383,530 shares of the construction company’s stock worth $8,890,000 after acquiring an additional 238,933 shares during the last quarter. 65.01% of the stock is currently owned by institutional investors and hedge funds.

Tutor Perini Stock Up 3.1%

Shares of NYSE TPC opened at $60.58 on Wednesday. The company’s 50 day moving average price is $64.42 and its 200-day moving average price is $52.25. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.32 and a current ratio of 1.32. Tutor Perini Corporation has a 52-week low of $18.33 and a 52-week high of $77.00. The company has a market capitalization of $3.20 billion, a P/E ratio of -24.04 and a beta of 1.94.

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, topping the consensus estimate of $0.96 by $0.19. The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.38 billion. Tutor Perini had a negative net margin of 2.77% and a negative return on equity of 6.41%. Tutor Perini’s revenue for the quarter was up 30.7% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.92) earnings per share. Tutor Perini has set its FY 2025 guidance at 4.000-4.200 EPS.

Tutor Perini Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

Insider Activity

In other news, Chairman Ronald N. Tutor sold 83,144 shares of the firm’s stock in a transaction that occurred on Thursday, September 18th. The shares were 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 owned 4,062,985 shares of the company’s stock, valued at $263,850,245.90. This trade represents a 2.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Sidney J. Feltenstein sold 124,668 shares of Tutor Perini stock in a transaction on Thursday, September 18th. The shares were 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 of the company’s stock, valued at $12,352,593.04. This represents a 39.97% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 725,000 shares of company stock worth $44,824,931. 17.30% of the stock is owned by corporate insiders.

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.