Principal Financial Group Inc. Makes New Investment in Tutor Perini Corporation $TPC

Principal Financial Group Inc. bought a new stake in shares of Tutor Perini Corporation (NYSE:TPC) in the 1st quarter, Holdings Channel reports. The institutional investor bought 774,115 shares of the construction company’s stock, valued at approximately $59,754,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Fifth Third Bancorp bought a new position in Tutor Perini during the first quarter worth about $304,000. Cvfg LLC acquired a new stake in shares of Tutor Perini in the 1st quarter valued at approximately $4,013,000. Hodges Capital Management Inc. boosted its stake in Tutor Perini by 28.4% during the 1st quarter. Hodges Capital Management Inc. now owns 74,471 shares of the construction company’s stock worth $5,748,000 after acquiring an additional 16,473 shares during the last quarter. Inspire Investing LLC bought a new position in Tutor Perini during the 1st quarter worth approximately $1,796,000. Finally, Janney Montgomery Scott LLC grew its holdings in Tutor Perini by 52.6% during the first quarter. Janney Montgomery Scott LLC now owns 5,140 shares of the construction company’s stock valued at $397,000 after purchasing an additional 1,772 shares during the period. Institutional investors own 65.01% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on TPC. Zacks Research raised shares of Tutor Perini from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 29th. Weiss Ratings reissued a “sell (d-)” rating on shares of Tutor Perini in a report on Monday, April 20th. Finally, Wall Street Zen cut shares of Tutor Perini from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $86.50.

Insider Buying and Selling at Tutor Perini

In other news, Director Robert C. Lieber sold 17,500 shares of Tutor Perini stock in a transaction on 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 completion of the sale, the director owned 149,410 shares of the company’s stock, valued at approximately $11,259,537.60. This trade represents a 10.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 15.40% of the company’s stock.

Tutor Perini Trading Down 0.2%

TPC opened at $78.70 on Friday. The stock has a market capitalization of $4.14 billion, a P/E ratio of 53.54 and a beta of 2.05. The firm’s fifty day simple moving average is $76.72 and its 200 day simple moving average is $77.83. Tutor Perini Corporation has a 12 month low of $43.52 and a 12 month high of $100.00. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.31.

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

Tutor Perini Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Thursday, May 21st. Tutor Perini’s dividend 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.