Knights of Columbus Asset Advisors LLC Purchases 34,627 Shares of Tutor Perini Corporation $TPC

Knights of Columbus Asset Advisors LLC purchased a new position in Tutor Perini Corporation (NYSE:TPC) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 34,627 shares of the construction company’s stock, valued at approximately $2,857,000. Knights of Columbus Asset Advisors LLC owned about 0.07% of Tutor Perini at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of TPC. BlackRock Inc. purchased a new stake in shares of Tutor Perini during the second quarter worth $358,248,000. Principal Financial Group Inc. purchased a new position in Tutor Perini in the first quarter valued at about $59,754,000. Donald Smith & CO. Inc. purchased a new position in Tutor Perini in the second quarter valued at about $40,407,000. Copeland Capital Management LLC acquired a new position in Tutor Perini in the 3rd quarter worth about $30,446,000. Finally, First Trust Advisors LP increased its position in 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 worth $104,893,000 after purchasing an additional 334,632 shares during the last quarter. 65.01% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Tutor Perini

In related news, Chairman Ronald N. Tutor sold 2,310,000 shares of the business’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 sale, the chairman directly owned 701,477 shares in the company, valued at approximately $60,039,416.43. The trade was a 76.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 owned 31,203 shares of the company’s stock, valued at approximately $2,871,924.12. This trade represents a 30.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 15.40% of the company’s stock.

Tutor Perini Stock Up 3.9%

TPC stock opened at $101.25 on Thursday. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.29. Tutor Perini Corporation has a 1 year low of $57.90 and a 1 year high of $102.30. The company has a fifty day simple moving average of $84.39 and a 200 day simple moving average of $81.87. The firm has a market cap of $5.32 billion, a PE ratio of 38.35 and a beta of 2.12.

Tutor Perini (NYSE:TPC) last posted its earnings results on Wednesday, November 4th. The construction company reported $1.83 EPS for the quarter, topping the consensus estimate of $1.34 by $0.49. The firm had revenue of $1.72 billion for 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 quarterly revenue was up 21.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.07 earnings per share. Sell-side analysts anticipate that Tutor Perini Corporation will post 6.03 EPS for the current fiscal year.

Tutor Perini Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Wall Street Zen lowered Tutor Perini from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 7th. Weiss Ratings raised Tutor Perini from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday. UBS Group increased their price objective on Tutor Perini from $105.00 to $107.00 and gave the stock a “buy” rating in a report on Thursday, November 5th. Finally, Zacks Research downgraded Tutor Perini from a “strong-buy” rating to a “hold” rating in a report on Monday, October 5th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Tutor Perini presently has a consensus rating of “Hold” and a consensus target price of $107.00.

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.