Tutor Perini Corporation (TPC) To Go Ex-Dividend on November 19th

Tutor Perini Corporation (NYSE:TPC) announced a quarterly dividend on Wednesday, November 4th. Shareholders of record on Thursday, November 19th will be paid a dividend of $0.09 per share by the construction company on Thursday, December 3rd. This represents a $0.36 annualized dividend and a yield of 0.4%. The ex-dividend date is Thursday, November 19th.

Tutor Perini has a dividend payout ratio of 11.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Tutor Perini to earn $6.10 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 5.9%.

Tutor Perini Price Performance

Shares of Tutor Perini stock opened at $80.88 on Friday. The firm has a market cap of $4.26 billion, a PE ratio of 30.64 and a beta of 2.12. Tutor Perini has a 12-month low of $57.90 and a 12-month high of $102.30. 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 company’s fifty day simple moving average is $83.87 and its two-hundred day simple moving average is $81.47.

Tutor Perini (NYSE:TPC) last released its quarterly earnings data on Wednesday, November 4th. The construction company reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.49. The firm had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Tutor Perini had a net margin of 2.25% and a return on equity of 23.58%. The company’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.07 earnings per share. As a group, equities analysts expect that Tutor Perini will post 5.39 EPS for the current year.

Insider Activity at Tutor Perini

In other news, Chairman Ronald Tutor sold 2,310,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chairman owned 701,477 shares in the company, valued at $60,039,416.43. This trade represents a 76.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Dale Reiss sold 13,400 shares of the firm’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $92.04, for a total value of $1,233,336.00. Following the completion of the transaction, the director owned 31,203 shares of the company’s stock, valued at approximately $2,871,924.12. The trade was a 30.04% decrease in their position. The SEC filing for this sale provides additional information. 15.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Tutor Perini

Hedge funds have recently modified their holdings of the business. Fifth Third Bancorp boosted its stake in Tutor Perini by 273.0% in the 3rd quarter. Fifth Third Bancorp now owns 14,242 shares of the construction company’s stock worth $1,175,000 after purchasing an additional 10,424 shares in the last quarter. Maryland State Retirement & Pension System bought a new stake in Tutor Perini during the 3rd quarter valued at about $829,000. Illinois Municipal Retirement Fund bought a new stake in Tutor Perini during the 3rd quarter valued at about $1,879,000. Knights of Columbus Asset Advisors LLC bought a new stake in Tutor Perini during the 3rd quarter valued at about $2,857,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in Tutor Perini by 4.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 12,967 shares of the construction company’s stock worth $1,080,000 after buying an additional 520 shares during the last quarter. Institutional investors own 65.01% of the company’s stock.

Tutor Perini Company Profile

Tutor Perini Corporation (NYSE:TPC) is a construction company that provides general contracting, construction management, and design-build services. Its operations are organized around civil, building, and specialty contracting activities, serving public agencies, private developers, and other institutional customers.

The company’s civil construction work includes major infrastructure such as highways, bridges, tunnels, mass-transit systems, airports, water and wastewater facilities, and other transportation and utility projects.