Amid a historic rally and blowout earnings, one portfolio move hints at where conviction ends and discipline begins.New York-based JB Capital Partners cut its holding in Tutor Perini (TPC +0.73%) by 175,000 shares in the third quarter, reducing exposure by approximately $5.35 million, according to a November 13 SEC filing.What HappenedAccording to a U.S. Securities and Exchange Commission (SEC) filing dated November 13, JB Capital Partners LP reduced its stake in Tutor Perini (TPC +0.73%) during the third q ...

Core Insights - Tutor Perini, a construction firm focused on large infrastructure projects, experienced notable insider buying, particularly by Board member Peter Arkley, following a year of strong share price gains [1][9]. Transaction Summary - Peter Arkley purchased 40,000 shares for approximately $2.6 million, increasing his direct ownership to 191,717 shares valued at around $12.5 million post-transaction [2][6]. - The shares were acquired at a weighted average price of $64.12, while the stock closed at $65.16 on the transaction date [6]. Company Overview - Tutor Perini reported a total revenue of $5.10 billion and a net income of -$27.83 million for the trailing twelve months (TTM) [4]. - The company has 7,500 employees and experienced a 152.21% increase in share price over the past year [4]. Company Snapshot - Tutor Perini provides general contracting, construction management, and design-build services across civil infrastructure, building, and specialty contractor segments [5][7]. Market Context - The purchase by Mr. Arkley is significant as it marks his first open-market buy, representing a 26.36% increase in his direct holdings [6]. - The company is benefiting from the Bipartisan Infrastructure Law, which allocates over $1 trillion for infrastructure projects, contributing to revenue growth [10]. Financial Performance - In Q3, Tutor Perini reported revenue of $1.4 billion, a 31% year-over-year increase, and has a record backlog of customer orders totaling $21.6 billion, reflecting a 54% growth over 2024 [11]. - The company's price-to-sales ratio is at a multi-year high of 0.71, indicating that the stock may be considered pricey [12].

Core Insights - Alger Small Cap Focus Fund's third-quarter 2025 investor letter indicates that U.S. equity markets experienced significant growth, with the S&P 500 Index rising by 8.12% due to improving economic conditions, solid corporate earnings, and expectations for monetary easing [1] - The fund's class A shares underperformed compared to the Russell 2000 Growth Index during the same period [1] Company Overview - Tutor Perini Corporation (NYSE:TPC) is a leading construction company that provides a wide range of services including general contracting, construction management, and design-build services to both private and public sector clients globally [3] - The company reported a stock price of $67.56 per share as of November 27, 2025, with a one-month return of -0.19% and a remarkable 147.93% increase in value over the last 52 weeks [2] Financial Performance - Tutor Perini Corporation's shares positively contributed to the fund's performance in the quarter following strong second-quarter results and an increase in full-year 2025 earnings guidance [3] - Management anticipates a significant increase in earnings for 2026, supported by infrastructure spending and improved project execution, which has enhanced investor confidence [3] Hedge Fund Interest - Tutor Perini Corporation is not among the 30 most popular stocks among hedge funds, with 36 hedge fund portfolios holding the stock at the end of the third quarter, up from 31 in the previous quarter [4] - While the company shows potential as an investment, the analysis suggests that certain AI stocks may offer greater upside potential with less downside risk [4]