Tutor Perini (NYSE:TPC) Sets New 12-Month High – Here’s What Happened

Shares of Tutor Perini Corporation (NYSE:TPC) hit a new 52-week high on Monday . The stock traded as high as $86.17 and last traded at $86.2330, with a volume of 227574 shares traded. The stock had previously closed at $83.48.

Analysts Set New Price Targets

TPC has been the subject of a number of research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Tutor Perini in a research report on Wednesday, January 21st. B. Riley Financial restated a “buy” rating on shares of Tutor Perini in a research report on Thursday, November 6th. UBS Group raised their price target on shares of Tutor Perini from $67.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. Finally, Wall Street Zen lowered Tutor Perini from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 22nd. 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 company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $80.50.

Tutor Perini Stock Up 0.7%

The stock has a market capitalization of $4.43 billion, a price-to-earnings ratio of -158.54 and a beta of 2.20. The business has a 50-day moving average of $72.15 and a 200-day moving average of $64.91. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.30 and a current ratio of 1.30.

Tutor Perini Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 23rd. Stockholders of record on Tuesday, December 9th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Tuesday, December 9th. Tutor Perini’s dividend payout ratio is currently -45.28%.

Insider Activity at Tutor Perini

In other Tutor Perini news, Director Peter Arkley purchased 24,853 shares of the firm’s stock in a transaction on Monday, November 24th. The stock was bought at an average price of $63.96 per share, with a total value of $1,589,597.88. Following the transaction, the director directly owned 176,570 shares of the company’s stock, valued at approximately $11,293,417.20. This represents a 16.38% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gary G. Smalley purchased 5,000 shares of Tutor Perini stock in a transaction on Wednesday, November 19th. The stock was bought at an average cost of $61.08 per share, for a total transaction of $305,400.00. Following the transaction, the chief executive officer directly owned 118,075 shares in the company, valued at $7,212,021. This represents a 4.42% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders bought 45,000 shares of company stock valued at $2,870,313. Insiders own 17.30% of the company’s stock.

Institutional Investors Weigh In On Tutor Perini

Several institutional investors have recently modified their holdings of TPC. Quarry LP raised its stake 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 buying an additional 183 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of Tutor Perini by 968.2% in the 3rd quarter. Smartleaf Asset Management LLC now owns 470 shares of the construction company’s stock valued at $31,000 after acquiring an additional 426 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Tutor Perini by 54.0% during the fourth 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 lifted 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 worth $41,000 after purchasing an additional 252 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in Tutor Perini by 2,085.3% in the fourth quarter. Farther Finance Advisors LLC now owns 743 shares of the construction company’s stock valued at $50,000 after purchasing an additional 709 shares in the last quarter. 65.01% of the stock is owned by hedge funds and other institutional investors.

Tutor Perini Company 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.