Tutor Perini Corporation $TPC Stock Sold by Hennessy Advisors Inc.

Hennessy Advisors Inc. lowered its position in Tutor Perini Corporation (NYSE:TPC) by 8.9% during the 3rd quarter, Holdings Channel reports. The firm owned 92,200 shares of the construction company’s stock after selling 9,000 shares during the quarter. Hennessy Advisors Inc.’s holdings in Tutor Perini were worth $7,608,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of TPC. Silvant Capital Management LLC bought a new stake in shares of Tutor Perini in the second quarter valued at about $49,000. Allworth Financial LP purchased a new stake in Tutor Perini in the second quarter worth about $53,000. Public Employees Retirement System of Ohio purchased a new stake in Tutor Perini in the second quarter worth about $56,000. Farther Finance Advisors LLC lifted its stake in Tutor Perini by 26.8% in the third quarter. Farther Finance Advisors LLC now owns 796 shares of the construction company’s stock worth $66,000 after acquiring an additional 168 shares during the period. Finally, Meeder Asset Management Inc. bought a new position in Tutor Perini during the 2nd quarter worth about $99,000. 65.01% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on TPC shares. Weiss Ratings downgraded shares of Tutor Perini from a “buy (b-)” rating to a “hold (c)” rating in a research note on Friday, October 23rd. UBS Group boosted their price objective on shares of Tutor Perini from $98.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Zacks Research downgraded shares of Tutor Perini from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. Finally, Wall Street Zen upgraded Tutor Perini from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 8th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $105.00.

Insider Activity

In other Tutor Perini news, Director Sidney J. Feltenstein sold 184,209 shares of the company’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $97.05, for a total transaction of $17,877,483.45. Following the transaction, the director directly owned 6,700 shares in the company, valued at $650,235. This represents a 96.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dale Reiss sold 13,400 shares of the business’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $92.04, for a total transaction of $1,233,336.00. Following the sale, the director owned 31,203 shares in the company, valued at $2,871,924.12. This trade represents a 30.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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.

Tutor Perini Stock Down 0.3%

Shares of TPC opened at $79.55 on Monday. The company has a market capitalization of $4.19 billion, a price-to-earnings ratio of 34.29 and a beta of 2.06. Tutor Perini Corporation has a 52 week low of $57.90 and a 52 week high of $102.30. The stock’s 50-day moving average price is $84.46 and its 200-day moving average price is $81.33. 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 (NYSE:TPC) last posted its earnings results on Wednesday, August 5th. The construction company reported $1.74 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $1.07. The firm 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 company’s quarterly revenue was up 19.2% on a year-over-year basis. During the same period last year, the firm earned $0.38 EPS. Tutor Perini has set its FY 2026 guidance at 5.150-5.450 EPS. On average, sell-side analysts predict that Tutor Perini Corporation will post 5.39 EPS for the current year.

Tutor Perini Increases Dividend

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

Tutor Perini Profile

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.