Key Points
- Tutor Perini director Dale Reiss sold 8,881 shares at an average price of $93.57, totaling about $831,000. The sale reduced her stake by 24.76%, leaving her with 26,982 shares.
- The company reported quarterly EPS of $1.83, beating the $1.34 analyst consensus, while revenue of $1.72 billion exceeded estimates and rose 21.5% year over year.
- Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $107. Tutor Perini also declared a quarterly dividend of $0.09 per share.
Tutor Perini Corporation (NYSE:TPC - Get Free Report) Director Dale Reiss sold 8,881 shares of the company's stock in a transaction dated Monday, November 9th. The stock was sold at an average price of $93.57, for a total transaction of $830,995.17. Following the transaction, the director owned 26,982 shares in the company, valued at approximately $2,524,705.74. This trade represents a 24.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
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 Trading Down 1.2%
TPC opened at $100.15 on Friday. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $5.26 billion, a PE ratio of 37.94 and a beta of 2.12. Tutor Perini Corporation has a 1-year low of $57.90 and a 1-year high of $102.30. The firm has a 50-day moving average price of $84.64 and a two-hundred day moving average price of $81.99.
Tutor Perini (NYSE:TPC - Get Free Report) last announced its earnings results on Wednesday, November 4th. The construction company reported $1.83 earnings per share for the quarter, topping analysts' consensus estimates of $1.34 by $0.49. Tutor Perini had a net margin of 2.25% and a return on equity of 23.19%. The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same period in the previous year, the firm posted $0.07 earnings per share. The company's revenue was up 21.5% on a year-over-year basis. As a group, equities analysts anticipate that Tutor Perini Corporation will post 6.03 earnings per share for the current fiscal year.
Tutor Perini Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 3rd. Investors of record on Thursday, November 19th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Thursday, November 19th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.4%. Tutor Perini's dividend payout ratio (DPR) is currently 13.64%.
Analyst Upgrades and Downgrades
TPC has been the subject of several research analyst reports. UBS Group boosted their price objective on shares of Tutor Perini from $105.00 to $107.00 and gave the stock a "buy" rating in a research report on Thursday, November 5th. Weiss Ratings upgraded Tutor Perini from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday. Zacks Research lowered Tutor Perini from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 5th. Finally, Wall Street Zen cut Tutor Perini from a "strong-buy" rating to a "buy" rating in a research note on Saturday, November 7th. One 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, Tutor Perini presently has a consensus rating of "Hold" and an average target price of $107.00.
Read Our Latest Report on Tutor Perini
Institutional Trading of Tutor Perini
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Salomon & Ludwin LLC bought a new position in shares of Tutor Perini in the 3rd quarter valued at about $32,000. Silvant Capital Management LLC acquired a new stake in shares of Tutor Perini during the 2nd quarter worth approximately $49,000. Allworth Financial LP acquired a new stake in shares of Tutor Perini during the 2nd quarter worth approximately $53,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Tutor Perini during the 2nd quarter worth approximately $56,000. Finally, Global Retirement Partners LLC raised its stake 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 last quarter. 65.01% of the stock is owned by institutional investors.
About Tutor Perini
(
Get Free Report)
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
