First Wilshire Securities Management Inc. cut its holdings in shares of Tutor Perini Corporation (NYSE:TPC – Free Report) by 10.9% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 100,785 shares of the construction company’s stock after selling 12,333 shares during the quarter. Tutor Perini comprises approximately 1.8% of First Wilshire Securities Management Inc.’s portfolio, making the stock its 18th largest holding. First Wilshire Securities Management Inc.’s holdings in Tutor Perini were worth $7,780,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors also recently bought and sold shares of the company. Principal Financial Group Inc. purchased a new position in Tutor Perini in the 1st quarter worth about $59,754,000. Gendell Jeffrey L boosted its holdings in shares of Tutor Perini by 95.0% during the 4th quarter. Gendell Jeffrey L now owns 889,915 shares of the construction company’s stock valued at $59,642,000 after acquiring an additional 433,559 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of Tutor Perini by 11,487.7% during the 4th quarter. SG Americas Securities LLC now owns 366,054 shares of the construction company’s stock valued at $24,533,000 after acquiring an additional 362,895 shares during the last quarter. Fred Alger Management LLC grew its stake in shares of Tutor Perini by 47.0% in the fourth quarter. Fred Alger Management LLC now owns 1,105,848 shares of the construction company’s stock worth $74,114,000 after acquiring an additional 353,744 shares during the period. Finally, Millennium Management LLC grew its stake in shares of Tutor Perini by 165.2% in the first quarter. Millennium Management LLC now owns 383,530 shares of the construction company’s stock worth $8,890,000 after acquiring an additional 238,933 shares during the period. 65.01% of the stock is currently owned by institutional investors.
Tutor Perini Trading Up 7.8%
Shares of NYSE:TPC opened at $86.78 on Wednesday. The stock has a market capitalization of $4.57 billion, a price-to-earnings ratio of 59.04 and a beta of 2.05. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.28 and a current ratio of 1.28. The stock’s 50-day simple moving average is $76.76 and its two-hundred day simple moving average is $78.13. Tutor Perini Corporation has a 52-week low of $43.52 and a 52-week high of $100.00.
Tutor Perini Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Thursday, May 21st. Tutor Perini’s dividend payout ratio is currently 16.33%.
Wall Street Analyst Weigh In
TPC has been the subject of several research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Tutor Perini in a report on Friday. Wall Street Zen cut shares of Tutor Perini from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 9th. Finally, Zacks Research raised shares of Tutor Perini from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 29th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Tutor Perini has an average rating of “Moderate Buy” and a consensus target price of $86.50.
Get Our Latest Report on Tutor Perini
Insiders Place Their Bets
In other news, Director Robert C. Lieber sold 17,500 shares of Tutor Perini stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $75.36, for a total transaction of $1,318,800.00. Following the transaction, the director owned 149,410 shares in the company, valued at $11,259,537.60. This trade represents a 10.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 15.40% of the company’s stock.
Tutor Perini Profile
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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