Fred Alger Management LLC Purchases 353,744 Shares of Tutor Perini Corporation $TPC

Fred Alger Management LLC grew its position in shares of Tutor Perini Corporation (NYSE:TPC) by 47.0% in the 4th quarter, HoldingsChannel reports. The firm owned 1,105,848 shares of the construction company’s stock after acquiring an additional 353,744 shares during the quarter. Fred Alger Management LLC’s holdings in Tutor Perini were worth $74,114,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in TPC. Gendell Jeffrey L lifted its stake in shares of Tutor Perini by 95.0% in the 4th quarter. Gendell Jeffrey L now owns 889,915 shares of the construction company’s stock valued at $59,642,000 after acquiring an additional 433,559 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Tutor Perini by 11,487.7% in the 4th quarter. SG Americas Securities LLC now owns 366,054 shares of the construction company’s stock valued at $24,533,000 after acquiring an additional 362,895 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Tutor Perini by 165.2% in the 1st quarter. Millennium Management LLC now owns 383,530 shares of the construction company’s stock valued at $8,890,000 after acquiring an additional 238,933 shares during the last quarter. M&G PLC bought a new stake in shares of Tutor Perini in the 3rd quarter valued at about $15,658,000. Finally, Cubist Systematic Strategies LLC lifted its stake in shares of Tutor Perini by 397.2% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 292,077 shares of the construction company’s stock valued at $13,663,000 after acquiring an additional 233,335 shares during the last quarter. Institutional investors own 65.01% of the company’s stock.

Insider Transactions at Tutor Perini

In related news, Director Robert C. Lieber sold 17,500 shares of the business’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $75.36, for a total transaction of $1,318,800.00. Following the transaction, the director owned 149,410 shares in the company, valued at $11,259,537.60. The trade was a 10.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 15.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TPC. Weiss Ratings reissued a “sell (d-)” rating on shares of Tutor Perini in a research note on Monday, April 20th. UBS Group boosted their target price on Tutor Perini from $86.00 to $98.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. Finally, Wall Street Zen lowered Tutor Perini from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 9th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $86.50.

Tutor Perini Stock Down 0.3%

Shares of NYSE:TPC opened at $76.35 on Wednesday. Tutor Perini Corporation has a 1 year low of $41.16 and a 1 year high of $100.00. The company has a market cap of $4.02 billion, a PE ratio of 51.94 and a beta of 2.06. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.28 and a quick ratio of 1.28. The stock’s 50-day moving average is $79.84 and its 200 day moving average is $76.22.

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 analysts’ consensus estimates of $0.96 by $0.07. Tutor Perini had a return on equity of 19.92% and a net margin of 1.37%.The company had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the previous year, the business earned $0.65 EPS. Tutor Perini’s revenue was up 11.5% compared to the same quarter last year. Tutor Perini has set its FY 2026 guidance at 4.900-5.300 EPS. Sell-side analysts anticipate that Tutor Perini Corporation will post 5.18 EPS for the current year.

Tutor Perini Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 21st were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Thursday, May 21st. Tutor Perini’s payout ratio is currently 16.33%.

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.