Hsbc Holdings PLC bought a new stake in shares of Tutor Perini Corporation (NYSE:TPC – Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 28,485 shares of the construction company’s stock, valued at approximately $2,370,000. Hsbc Holdings PLC owned approximately 0.05% of Tutor Perini at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of TPC. Quarry LP boosted its holdings in Tutor Perini by 74.7% in the third quarter. Quarry LP now owns 428 shares of the construction company’s stock valued at $28,000 after purchasing an additional 183 shares during the last quarter. Federated Hermes Inc. increased its holdings in Tutor Perini by 446.3% during the 4th quarter. Federated Hermes Inc. now owns 437 shares of the construction company’s stock worth $29,000 after purchasing an additional 357 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Tutor Perini by 54.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 536 shares of the construction company’s stock worth $36,000 after purchasing an additional 188 shares during the last quarter. Allworth Financial LP raised its position in shares of Tutor Perini by 71.4% in the 4th quarter. Allworth Financial LP now owns 605 shares of the construction company’s stock valued at $41,000 after purchasing an additional 252 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its position in shares of 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 purchasing an additional 148 shares in the last quarter. 65.01% of the stock is owned by hedge funds and other institutional investors.
Tutor Perini Stock Up 0.5%
Shares of Tutor Perini stock opened at $89.32 on Monday. The business has a 50-day moving average price of $85.12 and a 200 day moving average price of $80.88. Tutor Perini Corporation has a fifty-two week low of $56.62 and a fifty-two week high of $102.30. The firm has a market cap of $4.70 billion, a P/E ratio of 38.50 and a beta of 2.05. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.29.
Tutor Perini Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Wednesday, August 19th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.4%. This is a boost 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 15.52%.
Insiders Place Their Bets
In other Tutor Perini news, Director Sidney J. Feltenstein sold 184,209 shares of the stock in a transaction on Friday, August 7th. The shares were sold at an average price of $97.05, for a total transaction of $17,877,483.45. Following the sale, the director directly owned 6,700 shares of the company’s stock, valued at approximately $650,235. This represents a 96.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dale Anne Reiss sold 13,400 shares of the firm’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $92.04, for a total transaction of $1,233,336.00. Following the completion of the transaction, the director owned 31,203 shares in the company, valued at approximately $2,871,924.12. The trade was a 30.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 15.40% of the company’s stock.
Analyst Upgrades and Downgrades
TPC has been the subject of several research analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tutor Perini in a research note on Friday, July 17th. UBS Group lifted their price target on shares of Tutor Perini from $98.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Wall Street Zen raised shares of Tutor Perini from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 8th. Finally, Zacks Research upgraded shares of Tutor Perini from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $105.00.
Read 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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