Tutor Perini (NYSE:TPC) Stock: Insider Dale Anne Reiss Sells 8,881 Shares

Tutor Perini Corporation (NYSE:TPC) Director Dale Reiss sold 8,881 shares of the stock in a transaction dated Monday, November 9th. The stock was sold at an average price of $93.57, for a total value of $830,995.17. Following the sale, the director owned 26,982 shares of the company’s stock, valued at approximately $2,524,705.74. The trade was a 24.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Dale Anne Reiss also recently made the following trade(s):

• On Thursday, August 27th, Dale Reiss sold 13,400 shares of Tutor Perini stock. The stock was sold at an average price of $92.04, for a total value of $1,233,336.00.

Tutor Perini Trading Down 1.2%

Shares of NYSE:TPC traded down $1.19 during midday trading on Thursday, reaching $100.15. The company’s stock had a trading volume of 934,157 shares, compared to its average volume of 609,921. The firm has a market capitalization of $5.26 billion, a price-to-earnings ratio of 37.94 and a beta of 2.12. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.27 and a current ratio of 1.27. The firm has a 50 day moving average price of $84.39 and a two-hundred day moving average price of $81.87. Tutor Perini Corporation has a fifty-two week low of $57.90 and a fifty-two week high of $102.30.

Tutor Perini (NYSE:TPC) last released its earnings results on Wednesday, November 4th. The construction company reported $1.83 EPS for the quarter, topping the consensus estimate of $1.34 by $0.49. Tutor Perini had a return on equity of 23.19% and a net margin of 2.25%. The business had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter last year, the firm posted $0.07 earnings per share. The firm’s revenue was up 21.5% on a year-over-year basis. As a group, analysts forecast that Tutor Perini Corporation will post 6.03 earnings per share for the current year.

Tutor Perini Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 3rd. Shareholders of record on Thursday, November 19th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Thursday, November 19th. Tutor Perini’s dividend payout ratio is presently 13.64%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in TPC. BlackRock Inc. acquired a new stake in Tutor Perini in the second quarter valued at approximately $358,248,000. First Trust Advisors LP raised its position in shares of Tutor Perini by 14.9% during the third quarter. First Trust Advisors LP now owns 2,084,206 shares of the construction company’s stock worth $171,989,000 after purchasing an additional 270,764 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Tutor Perini by 0.7% during the first quarter. Dimensional Fund Advisors LP now owns 1,732,254 shares of the construction company’s stock worth $133,697,000 after purchasing an additional 12,573 shares during the period. Principal Financial Group Inc. bought a new position in shares of Tutor Perini in the 1st quarter worth $59,754,000. Finally, Donald Smith & CO. Inc. bought a new position in shares of Tutor Perini in the 2nd quarter worth $40,407,000. Institutional investors own 65.01% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on TPC. Zacks Research downgraded shares of Tutor Perini from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. Wall Street Zen downgraded shares of Tutor Perini from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 7th. UBS Group boosted their target price on shares of Tutor Perini from $105.00 to $107.00 and gave the company a “buy” rating in a research report on Thursday, November 5th. Finally, Weiss Ratings raised shares of Tutor Perini from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $107.00.

About Tutor Perini

Tutor Perini Corporation is a construction company that provides general contracting, construction management, and design-build services. Its work spans civil infrastructure, building construction, and specialty contracting, with projects for public agencies and private-sector clients. The company’s civil projects include transportation and infrastructure such as highways, bridges, tunnels, and transit systems. Its building work includes facilities for sectors such as healthcare, government, hospitality, and gaming, while its specialty contractors provide services including concrete, electrical, and mechanical construction.