Oregon Public Employees Retirement Fund Makes New Investment in Tutor Perini Corporation $TPC

Oregon Public Employees Retirement Fund purchased a new stake in Tutor Perini Corporation (NYSE:TPC) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 10,100 shares of the construction company’s stock, valued at approximately $833,000.

A number of other institutional investors and hedge funds have also made changes to their positions in TPC. BlackRock Inc. purchased a new stake in shares of Tutor Perini in the 2nd quarter valued at approximately $358,248,000. Dimensional Fund Advisors LP increased its holdings in shares of Tutor Perini by 0.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,732,254 shares of the construction company’s stock valued at $133,697,000 after acquiring an additional 12,573 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of Tutor Perini by 32.7% in the 1st quarter. First Trust Advisors LP now owns 1,358,899 shares of the construction company’s stock valued at $104,893,000 after acquiring an additional 334,632 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in shares of Tutor Perini during the 1st quarter worth about $59,754,000. Finally, Donald Smith & CO. Inc. purchased a new stake in Tutor Perini during the second quarter worth approximately $40,407,000. 65.01% of the stock is owned by institutional investors and hedge funds.

Tutor Perini Trading Up 5.5%

NYSE:TPC opened at $94.86 on Tuesday. Tutor Perini Corporation has a 12-month low of $57.90 and a 12-month high of $102.30. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.29. The stock’s 50 day simple moving average is $83.91 and its 200-day simple moving average is $81.64. The firm has a market cap of $4.99 billion, a P/E ratio of 35.93 and a beta of 2.12.

Tutor Perini (NYSE:TPC) last announced its quarterly earnings data on Wednesday, November 4th. The construction company reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.49. Tutor Perini had a net margin of 2.25% and a return on equity of 23.58%. The company had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same period in the previous year, the company posted $0.07 EPS. Tutor Perini’s revenue was up 21.5% compared to the same quarter last year. Equities analysts anticipate that Tutor Perini Corporation will post 6.03 EPS for the current year.

Tutor Perini Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 3rd. Shareholders of record on Thursday, November 19th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Thursday, November 19th. This represents a $0.36 dividend on an annualized basis and a yield of 0.4%. Tutor Perini’s dividend payout ratio (DPR) is 13.64%.

Insiders Place Their Bets

In other news, Director Dale Reiss sold 13,400 shares of the business’s stock in a transaction that occurred on 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 sale, the director owned 31,203 shares of the company’s stock, valued at $2,871,924.12. The trade was a 30.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Ronald N. Tutor sold 2,310,000 shares of the business’s stock in a transaction on Monday, August 31st. The stock was sold at an average price of $85.59, for a total value of $197,712,900.00. Following the sale, the chairman owned 701,477 shares in the company, valued at approximately $60,039,416.43. The trade was a 76.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 15.40% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

TPC has been the topic of a number of recent analyst reports. UBS Group increased their target price on shares of Tutor Perini from $105.00 to $107.00 and gave the company a “buy” rating in a research report on Thursday, November 5th. Weiss Ratings downgraded Tutor Perini from a “buy (b-)” rating to a “hold (c)” rating in a report on Friday, October 23rd. Wall Street Zen cut Tutor Perini from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Finally, Zacks Research lowered shares of Tutor Perini from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $107.00.

Tutor Perini Profile

Tutor Perini Corporation is a construction company that provides general contracting, construction management, and design-build services. Its work spans civil infrastructure, building construction, and specialty contracting, with projects for public agencies and private-sector clients.

The company’s civil projects include transportation and infrastructure such as highways, bridges, tunnels, and transit systems. Its building work includes facilities for sectors such as healthcare, government, hospitality, and gaming, while its specialty contractors provide services including concrete, electrical, and mechanical construction.

Headquartered in Sylmar, California, Tutor Perini traces its roots to construction businesses founded in the late 19th and early 20th centuries.