Fred Alger Management LLC Increases Holdings in Tutor Perini Corporation $TPC

Fred Alger Management LLC increased its stake in Tutor Perini Corporation (NYSE:TPC) by 47.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,105,848 shares of the construction company’s stock after purchasing an additional 353,744 shares during the quarter. Fred Alger Management LLC owned about 2.10% of Tutor Perini worth $74,114,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in TPC. Quarry LP grew its position in shares of Tutor Perini by 74.7% in the third quarter. Quarry LP now owns 428 shares of the construction company’s stock valued at $28,000 after purchasing an additional 183 shares in the last quarter. Federated Hermes Inc. boosted its stake in Tutor Perini by 446.3% during the fourth quarter. Federated Hermes Inc. now owns 437 shares of the construction company’s stock valued at $29,000 after buying an additional 357 shares during the period. Smartleaf Asset Management LLC boosted its stake in Tutor Perini by 968.2% during the third quarter. Smartleaf Asset Management LLC now owns 470 shares of the construction company’s stock valued at $31,000 after buying an additional 426 shares during the period. EverSource Wealth Advisors LLC boosted its stake in Tutor Perini by 54.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 536 shares of the construction company’s stock valued at $36,000 after buying an additional 188 shares during the period. Finally, Allworth Financial LP boosted its stake in Tutor Perini by 71.4% during the fourth quarter. Allworth Financial LP now owns 605 shares of the construction company’s stock valued at $41,000 after buying an additional 252 shares during the period. 65.01% of the stock is currently owned by hedge funds and other institutional investors.

Tutor Perini Price Performance

NYSE:TPC opened at $76.35 on Wednesday. The firm has a market capitalization of $4.02 billion, a price-to-earnings ratio of 51.94 and a beta of 2.06. Tutor Perini Corporation has a 52-week low of $41.16 and a 52-week high of $100.00. The stock has a fifty day moving average of $79.84 and a 200 day moving average of $76.22. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.28 and a current ratio of 1.28.

Tutor Perini (NYSE:TPC) last issued its quarterly earnings results on Wednesday, May 6th. The construction company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.07. Tutor Perini had a return on equity of 19.92% and a net margin of 1.37%.The firm had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same quarter in the previous year, the company posted $0.65 earnings per share. The company’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. On average, research analysts expect that Tutor Perini Corporation will post 5.18 EPS for the current fiscal year.

Tutor Perini Announces Dividend

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

Insider Transactions at Tutor Perini

In other Tutor Perini news, Director Robert C. Lieber sold 17,500 shares of Tutor Perini 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 completion of the sale, the director owned 149,410 shares of the company’s stock, valued at $11,259,537.60. The trade was a 10.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 15.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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

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.