Pacer Advisors Inc. Sells 52,444 Shares of Tutor Perini Corporation $TPC

by · The Cerbat Gem

Pacer Advisors Inc. cut its position in shares of Tutor Perini Corporation (NYSE:TPC – Free Report) by 11.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 400,095 shares of the construction company’s stock after selling 52,444 shares during the period. Pacer Advisors Inc. owned about 0.76% of Tutor Perini worth $26,242,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Comerica Bank raised its holdings in shares of Tutor Perini by 30.7% in the first quarter. Comerica Bank now owns 2,423 shares of the construction company’s stock valued at $56,000 after acquiring an additional 569 shares in the last quarter. AlphaQuest LLC grew its holdings in Tutor Perini by 849.2% during the 1st quarter. AlphaQuest LLC now owns 3,436 shares of the construction company’s stock worth $80,000 after acquiring an additional 3,074 shares in the last quarter. USA Financial Formulas purchased a new position in Tutor Perini during the 3rd quarter valued at about $90,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Tutor Perini in the 2nd quarter valued at about $145,000. Finally, Lingohr Asset Management GmbH bought a new stake in shares of Tutor Perini in the 2nd quarter valued at about $206,000. Institutional investors own 65.01% of the company’s stock.

Insiders Place Their Bets

In related news, Director Peter Arkley acquired 24,853 shares of the stock in a transaction dated Monday, November 24th. The stock was acquired at an average cost of $63.96 per share, for a total transaction of $1,589,597.88. Following the completion of the purchase, the director owned 176,570 shares of the company’s stock, valued at approximately $11,293,417.20. This represents a 16.38% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gary G. Smalley bought 5,000 shares of Tutor Perini stock in a transaction that occurred on Wednesday, November 19th. The stock was purchased at an average price of $61.08 per share, with a total value of $305,400.00. Following the purchase, the chief executive officer directly owned 118,075 shares in the company, valued at $7,212,021. The trade was a 4.42% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders acquired 45,000 shares of company stock valued at $2,870,313. Corporate insiders own 17.30% of the company’s stock.

Tutor Perini Stock Up 0.2%

Shares of TPC stock opened at $69.04 on Friday. The stock’s fifty day moving average price is $66.28 and its 200 day moving average price is $58.40. Tutor Perini Corporation has a 1-year low of $18.33 and a 1-year high of $77.00. The company has a market cap of $3.64 billion, a price-to-earnings ratio of -130.25 and a beta of 2.14. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.30 and a quick ratio of 1.30.

Tutor Perini (NYSE:TPC – Get Free Report) last issued its quarterly earnings results 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. Tutor Perini had a positive return on equity of 7.07% and a negative net margin of 0.55%.The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter last year, the company earned ($1.92) earnings per share. The company’s quarterly revenue was up 30.7% on a year-over-year basis. Tutor Perini has set its FY 2025 guidance at 4.000-4.200 EPS.

Tutor Perini Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 23rd. Shareholders of record on Tuesday, December 9th were issued a $0.06 dividend. The ex-dividend date of this dividend was Tuesday, December 9th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.3%. Tutor Perini’s dividend payout ratio (DPR) is currently -45.28%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. UBS Group lifted their price objective on shares of Tutor Perini from $67.00 to $86.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tutor Perini in a research report on Wednesday, October 8th. Zacks Research downgraded Tutor Perini from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. B. Riley reissued a “buy” rating on shares of Tutor Perini in a research report on Thursday, November 6th. Finally, Wall Street Zen downgraded Tutor Perini from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 22nd. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $80.50.

Get Our Latest Report on Tutor Perini

About Tutor Perini

(Free Report)

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.

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