Insider Buying: Tutor Perini (NYSE:TPC) Director Acquires $975,315.33 in Stock

Tutor Perini Corporation (NYSE:TPC) Director Peter Arkley bought 15,147 shares of the stock in a transaction that occurred on Tuesday, November 25th. The shares were bought at an average cost of $64.39 per share, with a total value of $975,315.33. Following the completion of the transaction, the director owned 191,717 shares in the company, valued at $12,344,657.63. The trade was a 8.58% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Peter Arkley also recently made the following trade(s):

• On Monday, November 24th, Peter Arkley purchased 24,853 shares of Tutor Perini stock. The stock was bought at an average price of $63.96 per share, for a total transaction of $1,589,597.88.

Tutor Perini Trading Up 1.8%

Shares of TPC stock traded up $1.16 on Tuesday, hitting $65.17. The company had a trading volume of 482,821 shares, compared to its average volume of 643,016. Tutor Perini Corporation has a twelve month low of $18.33 and a twelve month high of $77.00. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.32 and a current ratio of 1.32. The firm has a market cap of $3.44 billion, a P/E ratio of -25.86 and a beta of 1.94. The stock’s 50-day moving average is $64.28 and its two-hundred day moving average is $53.60.

Tutor Perini (NYSE:TPC) last announced its earnings results on Wednesday, November 5th. The construction company reported $1.15 EPS for the quarter, beating the consensus estimate of $0.96 by $0.19. The business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.38 billion. Tutor Perini had a negative return on equity of 6.41% and a negative net margin of 2.77%.The firm’s revenue was up 30.7% on a year-over-year basis. During the same period in the prior year, the business posted ($1.92) earnings per share. Tutor Perini has set its FY 2025 guidance at 4.000-4.200 EPS.

Tutor Perini Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 23rd. Stockholders of record on Tuesday, December 9th will be given a dividend of $0.06 per share. The ex-dividend date is Tuesday, December 9th. This represents a $0.24 annualized dividend and a dividend yield of 0.4%. Tutor Perini’s dividend payout ratio is -45.28%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on TPC. UBS Group lifted their target price on shares of Tutor Perini from $67.00 to $86.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Wall Street Zen lowered Tutor Perini from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Weiss Ratings restated a “sell (d-)” rating on shares of Tutor Perini in a research report on Wednesday, October 8th. B. Riley reiterated a “buy” rating on shares of Tutor Perini in a report on Thursday, November 6th. Finally, Zacks Research lowered Tutor Perini from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $66.33.

Institutional Trading of Tutor Perini

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CIBC Bancorp USA Inc. bought a new position in Tutor Perini in the third quarter worth approximately $311,000. CANADA LIFE ASSURANCE Co raised its position in shares of Tutor Perini by 212.3% during the third quarter. CANADA LIFE ASSURANCE Co now owns 11,704 shares of the construction company’s stock worth $765,000 after purchasing an additional 7,956 shares during the period. Caxton Associates LLP lifted its holdings in shares of Tutor Perini by 5.5% in the 3rd quarter. Caxton Associates LLP now owns 72,791 shares of the construction company’s stock worth $4,774,000 after purchasing an additional 3,784 shares in the last quarter. Voleon Capital Management LP lifted its holdings in shares of Tutor Perini by 213.7% in the 3rd quarter. Voleon Capital Management LP now owns 150,508 shares of the construction company’s stock worth $9,872,000 after purchasing an additional 102,535 shares in the last quarter. Finally, Voloridge Investment Management LLC acquired a new stake in Tutor Perini in the 3rd quarter valued at $10,573,000. 65.01% of the stock is owned by institutional investors.

About Tutor Perini

Tutor Perini Corporation, a construction company, provides diversified general contracting, construction management, and design-build services to private customers and public agencies in the United States and internationally. It operates through three segments: Civil, Building, and Specialty Contractors.