Tutor Perini Corporation $TPC Shares Bought by State of Alaska Department of Revenue

State of Alaska Department of Revenue grew its position in Tutor Perini Corporation (NYSE:TPC) by 212.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,702 shares of the construction company’s stock after acquiring an additional 6,599 shares during the period. State of Alaska Department of Revenue’s holdings in Tutor Perini were worth $799,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Farther Finance Advisors LLC boosted its holdings in shares of Tutor Perini by 26.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 796 shares of the construction company’s stock worth $66,000 after acquiring an additional 168 shares in the last quarter. Krilogy Financial LLC increased its holdings in Tutor Perini by 7.5% during the 3rd quarter. Krilogy Financial LLC now owns 3,475 shares of the construction company’s stock valued at $290,000 after purchasing an additional 242 shares in the last quarter. GAMMA Investing LLC increased its holdings in Tutor Perini by 17.2% during the 3rd quarter. GAMMA Investing LLC now owns 2,096 shares of the construction company’s stock valued at $173,000 after purchasing an additional 307 shares in the last quarter. State of Wyoming increased its holdings in Tutor Perini by 3.7% during the 1st quarter. State of Wyoming now owns 9,848 shares of the construction company’s stock valued at $760,000 after purchasing an additional 348 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in Tutor Perini by 11.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,571 shares of the construction company’s stock valued at $360,000 after purchasing an additional 471 shares during the last quarter. 65.01% of the stock is owned by institutional investors and hedge funds.

Tutor Perini Trading Down 4.2%

Shares of TPC opened at $76.82 on Friday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.29. Tutor Perini Corporation has a 12-month low of $57.90 and a 12-month high of $102.30. The firm has a market capitalization of $4.04 billion, a PE ratio of 33.11 and a beta of 2.06. The stock’s fifty day simple moving average is $85.96 and its 200-day simple moving average is $82.94.

Tutor Perini (NYSE:TPC) last posted its quarterly earnings results on Wednesday, August 5th. The construction company reported $1.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $1.07. The business had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Tutor Perini had a return on equity of 20.95% and a net margin of 2.08%. The firm’s quarterly revenue was up 19.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.38 earnings per share. Tutor Perini has set its FY 2026 guidance at 5.150-5.450 EPS. As a group, research analysts predict that Tutor Perini Corporation will post 5.39 earnings per share for the current year.

Tutor Perini Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Wednesday, August 19th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Wednesday, August 19th. This is a boost from Tutor Perini’s previous quarterly dividend of $0.06. Tutor Perini’s dividend payout ratio is currently 15.52%.

Insider Activity

In other news, Director Sidney Feltenstein sold 184,209 shares of the firm’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $97.05, for a total value of $17,877,483.45. Following the transaction, the director owned 6,700 shares of the company’s stock, valued at approximately $650,235. This trade represents a 96.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Ronald Tutor sold 2,310,000 shares of Tutor Perini stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $85.59, for a total transaction of $197,712,900.00. Following the sale, the chairman owned 701,477 shares of the company’s stock, valued at approximately $60,039,416.43. This represents a 76.71% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 2,507,609 shares of company stock valued at $216,823,719. 15.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on TPC. UBS Group lifted their price objective on Tutor Perini from $98.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Weiss Ratings upgraded Tutor Perini from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Zacks Research lowered Tutor Perini from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. Finally, Wall Street Zen raised Tutor Perini from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 8th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $105.00.

About Tutor Perini

Tutor Perini Corporation (NYSE:TPC) is a construction company that provides general contracting, construction management, and design-build services. Its operations are organized around civil, building, and specialty contracting activities, serving public agencies, private developers, and other institutional customers.

The company’s civil construction work includes major infrastructure such as highways, bridges, tunnels, mass-transit systems, airports, water and wastewater facilities, and other transportation and utility projects.