97,142 Tutor Perini Corporation $TPC Shares Sold by M&G PLC

M&G PLC cut its holdings in shares of Tutor Perini Corporation (NYSE:TPC) by 38.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 152,929 shares of the construction company’s stock after selling 97,142 shares during the quarter. M&G PLC owned about 0.29% of Tutor Perini worth $12,693,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TPC. Allspring Global Investments Holdings LLC lifted its stake in Tutor Perini by 4.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 12,967 shares of the construction company’s stock worth $1,080,000 after purchasing an additional 520 shares in the last quarter. Ethic Inc. grew its position in shares of Tutor Perini by 76.1% in the third quarter. Ethic Inc. now owns 4,368 shares of the construction company’s stock valued at $360,000 after purchasing an additional 1,888 shares in the last quarter. Pictet Asset Management Holding SA grew its position in shares of Tutor Perini by 46.9% in the third quarter. Pictet Asset Management Holding SA now owns 335,205 shares of the construction company’s stock valued at $27,661,000 after purchasing an additional 106,993 shares in the last quarter. Oregon Public Employees Retirement Fund acquired a new stake in shares of Tutor Perini in the third quarter valued at approximately $833,000. Finally, Salomon & Ludwin LLC acquired a new stake in shares of Tutor Perini in the third quarter valued at approximately $32,000. 65.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on TPC. Weiss Ratings upgraded Tutor Perini from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday. Wall Street Zen lowered Tutor Perini from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Zacks Research cut Tutor Perini from a “strong-buy” rating to a “hold” rating in a report on Monday, October 5th. Finally, UBS Group raised their target price on Tutor Perini from $105.00 to $107.00 and gave the stock a “buy” rating in a research note on Thursday, November 5th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $107.00.

Insider Buying and Selling at Tutor Perini

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

Tutor Perini Stock Performance

NYSE:TPC opened at $97.53 on Wednesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.27 and a quick ratio of 1.27. The firm has a market capitalization of $5.13 billion, a price-to-earnings ratio of 36.94 and a beta of 2.12. The company’s 50-day moving average is $84.09 and its two-hundred day moving average is $81.75. Tutor Perini Corporation has a 1-year low of $57.90 and a 1-year high of $102.30.

Tutor Perini (NYSE:TPC) last announced its quarterly earnings results on Wednesday, November 4th. The construction company reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.49. The business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.63 billion. Tutor Perini had a net margin of 2.25% and a return on equity of 23.19%. The business’s revenue was up 21.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.07 EPS. Analysts forecast that Tutor Perini Corporation will post 6.03 EPS for the current year.

Tutor Perini Dividend Announcement

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

About Tutor Perini

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.