California State Teachers Retirement System lifted its stake in Tutor Perini Corporation (NYSE:TPC – Free Report) by 23.6% in the 1st quarter, Holdings Channel.com reports. The firm owned 52,528 shares of the construction company’s stock after buying an additional 10,026 shares during the quarter. California State Teachers Retirement System’s holdings in Tutor Perini were worth $4,055,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Quarry LP raised its holdings in Tutor Perini by 74.7% in the third quarter. Quarry LP now owns 428 shares of the construction company’s stock worth $28,000 after buying an additional 183 shares during the last quarter. Federated Hermes Inc. increased its position in shares of Tutor Perini by 446.3% during the fourth quarter. Federated Hermes Inc. now owns 437 shares of the construction company’s stock valued at $29,000 after acquiring an additional 357 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Tutor Perini by 54.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 536 shares of the construction company’s stock worth $36,000 after acquiring an additional 188 shares during the last quarter. Allworth Financial LP raised its holdings in Tutor Perini by 71.4% in the 4th quarter. Allworth Financial LP now owns 605 shares of the construction company’s stock worth $41,000 after acquiring an additional 252 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in Tutor Perini by 31.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 618 shares of the construction company’s stock valued at $42,000 after acquiring an additional 148 shares in the last quarter. Institutional investors own 65.01% of the company’s stock.
Tutor Perini Stock Performance
TPC stock opened at $99.25 on Friday. The company has a market cap of $5.22 billion, a P/E ratio of 42.78 and a beta of 2.05. Tutor Perini Corporation has a 1 year low of $53.83 and a 1 year high of $102.30. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.29 and a quick ratio of 1.28. The stock’s fifty day moving average price is $79.55 and its 200-day moving average price is $79.40.
Tutor Perini Increases Dividend
The firm also recently announced 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. This represents a $0.36 annualized dividend and a yield of 0.4%. This is a positive change from Tutor Perini’s previous quarterly dividend of $0.06. The ex-dividend date is Wednesday, August 19th. Tutor Perini’s dividend payout ratio (DPR) is presently 16.33%.
Wall Street Analysts Forecast Growth
A number of research firms have commented on TPC. UBS Group lifted their target price on Tutor Perini from $98.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tutor Perini in a report on Friday, July 17th. Wall Street Zen raised Tutor Perini from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Finally, Zacks Research cut shares of Tutor Perini from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 28th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $105.00.
Check Out Our Latest Report on TPC
Insider Transactions at Tutor Perini
In other Tutor Perini news, Director Robert C. Lieber sold 17,500 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director directly owned 149,410 shares of the company’s stock, valued at approximately $11,259,537.60. This represents a 10.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 15.40% of the company’s stock.
About Tutor Perini
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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