Tutor Perini Corporation (NYSE:TPC) Shareholders to Get $0.09 Quarterly Dividend

Tutor Perini Corporation (NYSE:TPC) announced a quarterly dividend on Wednesday, November 4th. Stockholders 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 dividend yield of 0.4%. The ex-dividend date of this dividend is Thursday, November 19th.

Tutor Perini has a payout ratio of 11.3% meaning 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

Tutor Perini stock opened at $82.64 on Thursday. The firm has a 50-day moving average price of $84.02 and a 200-day moving average price of $81.44. The firm has a market capitalization of $4.35 billion, a PE ratio of 35.62 and a beta of 2.12. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.29. Tutor Perini has a 12-month low of $57.90 and a 12-month high of $102.30.

Tutor Perini (NYSE:TPC) last issued its quarterly earnings results on Wednesday, November 4th. The construction company reported $1.83 EPS for the quarter, beating the consensus estimate of $1.34 by $0.49. The company 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 2.08% and a return on equity of 20.95%. The firm’s revenue was up 21.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.07 EPS. As a group, equities research analysts forecast that Tutor Perini will post 5.39 EPS for the current year.

Insider Transactions at Tutor Perini

In related news, Director Sidney J. Feltenstein sold 184,209 shares of the firm’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $97.05, for a total value of $17,877,483.45. Following the transaction, the director owned 6,700 shares of the company’s stock, valued at $650,235. This trade represents a 96.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Ronald N. Tutor sold 2,310,000 shares of the firm’s stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $85.59, for a total transaction of $197,712,900.00. Following the completion of the transaction, the chairman directly owned 701,477 shares in the company, valued at $60,039,416.43. This represents a 76.71% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 2,507,609 shares of company stock worth $216,823,719. 15.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tutor Perini

Several large investors have recently added to or reduced their stakes in TPC. Salomon & Ludwin LLC bought a new position in Tutor Perini in the 3rd quarter worth about $32,000. Silvant Capital Management LLC purchased a new position in shares of Tutor Perini during the second quarter worth approximately $49,000. Allworth Financial LP purchased a new position in shares of Tutor Perini during the second quarter worth approximately $53,000. Public Employees Retirement System of Ohio bought a new stake in shares of Tutor Perini during the second quarter valued at approximately $56,000. Finally, Farther Finance Advisors LLC raised its stake in shares of Tutor Perini by 26.8% during the third quarter. Farther Finance Advisors LLC now owns 796 shares of the construction company’s stock valued at $66,000 after acquiring an additional 168 shares in the last quarter. 65.01% of the stock is owned by hedge funds and other institutional investors.

About Tutor Perini

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.