Tutor Perini Corp Plans Quarterly Dividend of $0.30 (NYSE:TPC)

Tutor Perini Corp (NYSE:TPC) declared a quarterly dividend on Tuesday, June 30th, Wall Street Journal reports. Stockholders of record on Friday, July 10th will be given a dividend of 0.2969 per share by the construction company on Monday, August 3rd. This represents a $1.19 annualized dividend and a dividend yield of 9.66%. The ex-dividend date of this dividend is Thursday, July 9th.

Shares of TPC traded up $0.64 during mid-day trading on Tuesday, hitting $12.29. 425,300 shares of the company’s stock traded hands, compared to its average volume of 1,044,663. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.50. Tutor Perini has a 1 year low of $2.61 and a 1 year high of $19.48. The firm has a market capitalization of $589.22 million, a P/E ratio of -1.63 and a beta of 1.83. The business’s 50-day moving average price is $10.52 and its 200-day moving average price is $10.28.

Tutor Perini (NYSE:TPC) last posted its earnings results on Wednesday, May 6th. The construction company reported $0.34 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.31. The firm had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.06 billion. Tutor Perini had a positive return on equity of 3.53% and a negative net margin of 7.80%. Sell-side analysts anticipate that Tutor Perini will post 2.03 earnings per share for the current fiscal year.

In other news, CEO Ronald N. Tutor sold 30,000 shares of the stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $11.93, for a total value of $357,900.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ronald N. Tutor sold 75,000 shares of the stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $12.90, for a total value of $967,500.00. Following the completion of the sale, the chief executive officer now directly owns 5,008,841 shares in the company, valued at $64,614,048.90. The disclosure for this sale can be found here. Over the last three months, insiders bought 207,922 shares of company stock worth $1,861,710. Insiders own 24.30% of the company’s stock.

Several equities research analysts recently weighed in on TPC shares. ValuEngine cut Tutor Perini from a “hold” rating to a “sell” rating in a research note on Wednesday, May 6th. B. Riley upped their price target on Tutor Perini from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Finally, Zacks Investment Research raised Tutor Perini from a “hold” rating to a “buy” rating and set a $7.00 price target on the stock in a research note on Saturday, May 9th. One investment analyst has rated the stock with a sell rating and three have issued a buy rating to the company’s stock. Tutor Perini has an average rating of “Buy” and a consensus price target of $14.33.

Tutor Perini Company Profile

Tutor Perini Corporation, a construction company, provides diversified general contracting, construction management, and design-build services to private customers and public agencies worldwide. The company operates through three segments: Civil, Building, and Specialty Contractors. The Civil segment engages in the public works construction, replacement, and reconstruction of infrastructure, including highways, bridges, tunnels, mass-transit systems, and water management and wastewater treatment facilities.

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