Tutor Perini Corporation $TPC Shares Newly Purchased by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund purchased a new position in shares of Tutor Perini Corporation (NYSE:TPC) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 10,100 shares of the construction company’s stock, valued at approximately $833,000.

A number of other hedge funds have also recently bought and sold shares of TPC. WINTON GROUP Ltd purchased a new stake in shares of Tutor Perini in the second quarter valued at $600,000. Copeland Capital Management LLC purchased a new position in Tutor Perini during the third quarter worth approximately $30,446,000. Bank of America Corp DE grew its stake in shares of Tutor Perini by 74.2% during the 1st quarter. Bank of America Corp DE now owns 481,180 shares of the construction company’s stock valued at $37,142,000 after buying an additional 204,878 shares during the period. GSA Capital Partners LLP purchased a new stake in Tutor Perini during the second quarter valued at about $3,085,000. Finally, Hennessy Advisors Inc. acquired a new stake in Tutor Perini during the second quarter worth about $8,397,000. Institutional investors and hedge funds own 65.01% of the company’s stock.

Insider Buying and Selling

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 value of $1,233,336.00. Following the completion of the sale, the director directly owned 31,203 shares in the company, valued at approximately $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 can be accessed through this hyperlink. Also, Chairman Ronald Tutor sold 2,310,000 shares of the firm’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 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 ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 15.40% of the company’s stock.

Analysts Set New Price Targets

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

Tutor Perini Trading Up 5.5%

Shares of TPC opened at $94.86 on Tuesday. Tutor Perini Corporation has a one year low of $57.90 and a one year high of $102.30. The stock has a 50-day moving average price of $83.91 and a 200 day moving average price of $81.64. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.29 and a current ratio of 1.29. The company has a market capitalization of $4.99 billion, a P/E ratio of 35.93 and a beta of 2.12.

Tutor Perini (NYSE:TPC) last announced its earnings results 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 company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.63 billion. Tutor Perini had a return on equity of 23.58% and a net margin of 2.25%. Tutor Perini’s quarterly revenue was up 21.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.07 EPS. Sell-side analysts forecast that Tutor Perini Corporation will post 6.03 EPS for the current fiscal year.

Tutor Perini Announces Dividend

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

Tutor Perini Company 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.