Key Points
- Tutor Perini director Sidney Feltenstein sold 184,209 shares for approximately $17.88 million, reducing his direct ownership by 96.49% to 6,700 shares.
- The company reported strong quarterly results, with EPS of $1.74 versus the $0.67 consensus estimate and revenue of $1.64 billion, up 19.2% year over year.
- Tutor Perini increased its quarterly dividend to $0.09 per share, while analysts maintained a consensus “Hold” rating with an average price target of $105.
Tutor Perini Corporation (NYSE:TPC - Get Free Report) Director Sidney Feltenstein sold 184,209 shares of Tutor Perini stock in a transaction on Friday, August 7th. The stock was sold at an average price of $97.05, for a total value of $17,877,483.45. Following the transaction, the director directly owned 6,700 shares of the company's stock, valued at $650,235. This trade represents a 96.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Tutor Perini Price Performance
Shares of NYSE TPC opened at $97.58 on Wednesday. The stock has a market cap of $5.13 billion, a price-to-earnings ratio of 42.06 and a beta of 2.05. Tutor Perini Corporation has a 52 week low of $53.83 and a 52 week high of $102.30. The company's 50-day moving average price is $80.52 and its 200 day moving average price is $79.77. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.29.
Tutor Perini (NYSE:TPC - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The construction company reported $1.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $1.07. Tutor Perini had a net margin of 2.08% and a return on equity of 20.95%. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter in the prior year, the firm earned $0.38 earnings per share. The company's revenue for the quarter was up 19.2% compared to the same quarter last year. Tutor Perini has set its FY 2026 guidance at 5.150-5.450 EPS. As a group, research analysts forecast that Tutor Perini Corporation will post 5.48 earnings per share for the current fiscal year.
Tutor Perini Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Wednesday, August 19th will be given a dividend of $0.09 per share. The ex-dividend date is Wednesday, August 19th. This represents a $0.36 annualized dividend and a dividend yield of 0.4%. This is an increase from Tutor Perini's previous quarterly dividend of $0.06. Tutor Perini's payout ratio is presently 10.34%.
Analysts Set New Price Targets
TPC has been the subject of a number of analyst reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Tutor Perini in a report on Friday, July 17th. UBS Group lifted their price objective on Tutor Perini from $98.00 to $105.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Wall Street Zen raised shares of Tutor Perini from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Finally, Zacks Research downgraded shares of Tutor Perini from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 28th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Tutor Perini has a consensus rating of "Hold" and an average target price of $105.00.
Read Our Latest Research Report on Tutor Perini
Institutional Trading of Tutor Perini
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Comerica Bank grew its position 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 purchasing an additional 569 shares during the period. AQR Capital Management LLC increased its stake in Tutor Perini by 42.0% in the first quarter. AQR Capital Management LLC now owns 183,267 shares of the construction company's stock valued at $4,248,000 after purchasing an additional 54,204 shares during the last quarter. Millennium Management LLC lifted its position in Tutor Perini by 165.2% during the first quarter. Millennium Management LLC now owns 383,530 shares of the construction company's stock worth $8,890,000 after buying an additional 238,933 shares during the period. Goldman Sachs Group Inc. boosted its stake in Tutor Perini by 13.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 580,821 shares of the construction company's stock worth $13,463,000 after buying an additional 69,489 shares during the last quarter. Finally, Norges Bank acquired a new stake in Tutor Perini in the 2nd quarter worth about $691,000. 65.01% of the stock is owned by hedge funds and other institutional investors.
Tutor Perini Company Profile
(
Get 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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