Tutor Perini Co. (NYSE:TPC) Declares $0.30 Quarterly Dividend

Tutor Perini Co. (NYSE:TPC) announced a quarterly dividend on Friday, September 24th, Wall Street Journal reports. Shareholders of record on Monday, October 11th will be paid a dividend of 0.2969 per share by the construction company on Monday, November 1st. This represents a $1.19 annualized dividend and a yield of 9.13%. The ex-dividend date is Thursday, October 7th.

TPC opened at $13.00 on Friday. Tutor Perini has a one year low of $10.79 and a one year high of $20.24. The company has a market cap of $663.94 million, a P/E ratio of 5.58 and a beta of 1.39. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.96 and a current ratio of 1.96. The business’s 50-day simple moving average is $13.79 and its 200-day simple moving average is $15.28.

Tutor Perini (NYSE:TPC) last announced its earnings results on Wednesday, August 4th. The construction company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.10. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Tutor Perini had a return on equity of 7.67% and a net margin of 2.29%. As a group, analysts predict that Tutor Perini will post 2.09 earnings per share for the current fiscal year.

Separately, Zacks Investment Research downgraded Tutor Perini from a “buy” rating to a “hold” rating in a research note on Friday, September 10th.

In related news, CEO Ronald N. Tutor sold 50,000 shares of Tutor Perini stock in a transaction on Friday, September 10th. The stock was sold at an average price of $13.55, for a total value of $677,500.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders sold 150,000 shares of company stock worth $2,055,500 in the last quarter. 22.20% of the stock is owned by insiders.

A hedge fund recently raised its stake in Tutor Perini stock. Millennium Management LLC lifted its holdings in shares of Tutor Perini Co. (NYSE:TPC) by 71.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 18,348 shares of the construction company’s stock after acquiring an additional 7,620 shares during the quarter. Millennium Management LLC’s holdings in Tutor Perini were worth $254,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 67.17% of the company’s stock.

About Tutor Perini

Tutor Perini Corp. engages in the provision of construction services. It operates though the following business segments: Civil, Building, and Specialty Contractors. The Civil segment specializes in public works construction and the replacement and reconstruction of infrastructure across the major geographic regions of the United States.

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