Tutor Perini Corporation to Issue Quarterly Dividend of $0.06 (NYSE:TPC)

Tutor Perini Corporation (NYSE:TPC) declared a quarterly dividend on Tuesday, November 18th. Investors of record on Tuesday, December 9th will be given a dividend of 0.06 per share by the construction company on Tuesday, December 23rd. This represents a c) annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Tuesday, December 9th.

Tutor Perini Stock Up 3.1%

Shares of TPC traded up $1.82 during mid-day trading on Tuesday, reaching $60.58. 611,715 shares of the stock traded hands, compared to its average volume of 645,506. The firm has a market cap of $3.20 billion, a price-to-earnings ratio of -24.04 and a beta of 1.94. The stock has a fifty day simple moving average of $64.42 and a 200 day simple moving average of $51.98. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.32. Tutor Perini has a 12-month low of $18.33 and a 12-month high of $77.00.

Tutor Perini (NYSE:TPC) last posted its quarterly earnings data on Wednesday, November 5th. The construction company reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.19. Tutor Perini had a negative net margin of 2.77% and a negative return on equity of 6.41%. The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same period in the prior year, the company posted ($1.92) EPS. The firm’s revenue for the quarter was up 30.7% on a year-over-year basis. Tutor Perini has set its FY 2025 guidance at 4.000-4.200 EPS.

Insider Activity at Tutor Perini

In other Tutor Perini news, Director Sidney J. Feltenstein sold 124,668 shares of the company’s stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $65.96, for a total value of $8,223,101.28. Following the completion of the sale, the director directly owned 187,274 shares in the company, valued at $12,352,593.04. This represents a 39.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Ronald N. Tutor sold 83,144 shares of the business’s stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $64.94, for a total value of $5,399,371.36. Following the completion of the sale, the chairman directly owned 4,062,985 shares in the company, valued at $263,850,245.90. This represents a 2.01% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 725,000 shares of company stock worth $44,824,931. 17.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tutor Perini

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Quarry LP grew its stake in shares of Tutor Perini by 74.7% in the 3rd quarter. Quarry LP now owns 428 shares of the construction company’s stock worth $28,000 after purchasing an additional 183 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in Tutor Perini by 968.2% during the third quarter. Smartleaf Asset Management LLC now owns 470 shares of the construction company’s stock worth $31,000 after buying an additional 426 shares in the last quarter. Quadrant Capital Group LLC bought a new stake in Tutor Perini during the third quarter worth approximately $72,000. USA Financial Formulas acquired a new position in Tutor Perini in the third quarter worth approximately $90,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in Tutor Perini in the third quarter worth approximately $92,000. 65.01% of the stock is owned by institutional investors and hedge funds.

Tutor Perini Company Profile

Tutor Perini Corporation, a construction company, provides diversified general contracting, construction management, and design-build services to private customers and public agencies in the United States and internationally. It operates through three segments: Civil, Building, and Specialty Contractors.