EP Wealth Advisors LLC purchased a new position in Tutor Perini Corporation (NYSE:TPC – Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 10,303 shares of the construction company’s stock, valued at approximately $855,000.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Quarry LP lifted its position in shares of Tutor Perini by 74.7% during the third 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. Federated Hermes Inc. increased its holdings in Tutor Perini by 446.3% in the fourth quarter. Federated Hermes Inc. now owns 437 shares of the construction company’s stock valued at $29,000 after buying an additional 357 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Tutor Perini by 54.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 536 shares of the construction company’s stock valued at $36,000 after buying an additional 188 shares during the last quarter. Silvant Capital Management LLC acquired a new stake in Tutor Perini during the second quarter valued at approximately $49,000. Finally, Allworth Financial LP raised its stake in Tutor Perini by 71.4% during the fourth quarter. Allworth Financial LP now owns 605 shares of the construction company’s stock valued at $41,000 after buying an additional 252 shares in the last quarter. 65.01% of the stock is owned by institutional investors and hedge funds.
Tutor Perini Stock Performance
Shares of TPC stock opened at $90.97 on Monday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.29. The business has a 50 day moving average of $83.95 and a two-hundred day moving average of $80.62. Tutor Perini Corporation has a 52 week low of $56.62 and a 52 week high of $102.30. The company has a market cap of $4.79 billion, a P/E ratio of 39.21 and a beta of 2.05.
Tutor Perini Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Wednesday, August 19th will be given a $0.09 dividend. This is a positive change from Tutor Perini’s previous quarterly dividend of $0.06. The ex-dividend date is Wednesday, August 19th. This represents a $0.36 annualized dividend and a yield of 0.4%. Tutor Perini’s payout ratio is currently 15.52%.
Insider Activity at Tutor Perini
In other Tutor Perini news, Director Robert C. Lieber sold 17,500 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $75.36, for a total transaction of $1,318,800.00. Following the completion of the transaction, the director directly owned 149,410 shares of the company’s stock, valued at approximately $11,259,537.60. This trade represents a 10.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Sidney J. Feltenstein sold 184,209 shares of Tutor Perini stock in a transaction dated 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 in the company, valued at approximately $650,235. The trade was a 96.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 15.40% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
TPC has been the topic of a number of research analyst reports. Zacks Research downgraded Tutor Perini from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 28th. Wall Street Zen raised Tutor Perini from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Tutor Perini in a research note on Friday, July 17th. Finally, UBS Group lifted their price objective on shares of Tutor Perini from $98.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $105.00.
Check Out Our Latest Research Report on Tutor Perini
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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