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

Key Points

• Director Dale Anne Reiss sold 8,881 Tutor Perini shares at an average $93.57, totaling about $831,000; she retained 26,982 shares after the sale.
• Tutor Perini reported quarterly EPS of $1.83, beating the $1.34 consensus estimate, while revenue rose 21.5% year over year to $1.72 billion.
• The company announced a quarterly dividend of $0.09 per share, equivalent to a 0.4% annualized yield. Analysts’ consensus rating was Hold, with an average price target of $107.

Tutor Perini Corporation (NYSE:TPC - Get Free Report) Director Dale Reiss sold 8,881 shares of the business's stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $93.57, for a total transaction of $830,995.17. Following the completion of the transaction, the director owned 26,982 shares of the company's stock, valued at $2,524,705.74. The trade was a 24.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

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 transaction of $1,233,336.00.

Tutor Perini Price Performance

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

Tutor Perini (NYSE:TPC - Get Free Report) last announced its quarterly earnings data on Wednesday, November 4th. The construction company reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.49. The business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.63 billion. Tutor Perini had a return on equity of 23.19% and a net margin of 2.25%. Tutor Perini's revenue for the quarter was up 21.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.07 EPS. As a group, equities analysts expect that Tutor Perini Corporation will post 6.03 earnings per share for the current fiscal year.

Tutor Perini Announces Dividend

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

Hedge Funds Weigh In On Tutor Perini

A number of hedge funds have recently made changes to their positions in TPC. Salomon & Ludwin LLC acquired a new stake in Tutor Perini during the 3rd quarter valued at approximately $32,000. Silvant Capital Management LLC acquired a new position in shares of Tutor Perini in the 2nd quarter worth approximately $49,000. Allworth Financial LP bought a new stake in shares of Tutor Perini in the 2nd quarter valued at $53,000. Public Employees Retirement System of Ohio bought a new stake in shares of Tutor Perini in the 2nd quarter valued at $56,000. Finally, Global Retirement Partners LLC increased its position in shares of Tutor Perini by 3,222.7% during the third quarter. Global Retirement Partners LLC now owns 731 shares of the construction company's stock worth $60,000 after buying an additional 709 shares during the period. 65.01% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on TPC. Weiss Ratings raised shares of Tutor Perini from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday. Wall Street Zen downgraded shares of Tutor Perini from a "strong-buy" rating to a "buy" rating in a research note on Saturday, November 7th. UBS Group lifted their price target on shares of Tutor Perini from $105.00 to $107.00 and gave the stock a "buy" rating in a report on Thursday, November 5th. Finally, Zacks Research cut shares of Tutor Perini from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 5th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target 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.

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