Thompson Davis & CO. Inc. Makes New $784,000 Investment in Tutor Perini Corporation $TPC

Thompson Davis & CO. Inc. acquired a new stake in Tutor Perini Corporation (NYSE:TPC) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 11,955 shares of the construction company’s stock, valued at approximately $784,000.

A number of other institutional investors also recently modified their holdings of the company. Arizona State Retirement System increased its stake in Tutor Perini by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 13,256 shares of the construction company’s stock valued at $869,000 after purchasing an additional 182 shares in the last quarter. KLP Kapitalforvaltning AS increased its position in shares of Tutor Perini by 3.1% during the second quarter. KLP Kapitalforvaltning AS now owns 9,900 shares of the construction company’s stock worth $463,000 after acquiring an additional 300 shares in the last quarter. Savant Capital LLC raised its holdings in shares of Tutor Perini by 6.0% in the 3rd quarter. Savant Capital LLC now owns 6,081 shares of the construction company’s stock worth $399,000 after acquiring an additional 342 shares during the last quarter. Comerica Bank boosted its stake in Tutor Perini by 30.7% during the 1st quarter. Comerica Bank now owns 2,423 shares of the construction company’s stock valued at $56,000 after purchasing an additional 569 shares during the last quarter. Finally, Lesa Sroufe & Co increased its holdings in Tutor Perini by 0.9% during the 3rd quarter. Lesa Sroufe & Co now owns 71,171 shares of the construction company’s stock worth $4,668,000 after purchasing an additional 636 shares in the last quarter. 65.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on TPC shares. UBS Group lifted their target price on Tutor Perini from $67.00 to $86.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. B. Riley Financial reiterated a “buy” rating on shares of Tutor Perini in a research note on Thursday, November 6th. Wall Street Zen lowered shares of Tutor Perini from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 22nd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tutor Perini in a research report on Wednesday, January 21st. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Tutor Perini presently has an average rating of “Hold” and an average target price of $80.50.

Tutor Perini Price Performance

Shares of NYSE:TPC opened at $83.68 on Friday. Tutor Perini Corporation has a fifty-two week low of $18.33 and a fifty-two week high of $84.65. The company’s 50-day moving average is $72.15 and its 200 day moving average is $64.69. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.30 and a current ratio of 1.30. The company has a market capitalization of $4.41 billion, a P/E ratio of -157.88 and a beta of 2.21.

Tutor Perini (NYSE:TPC) last released its earnings results on Wednesday, November 5th. The construction company reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.19. Tutor Perini had a negative net margin of 0.55% and a positive return on equity of 7.07%. The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.38 billion. During the same period in the previous year, the company earned ($1.92) earnings per share. The company’s quarterly revenue was up 30.7% on a year-over-year basis.

Tutor Perini Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 23rd. Investors of record on Tuesday, December 9th were paid a $0.06 dividend. The ex-dividend date was Tuesday, December 9th. This represents a $0.24 annualized dividend and a yield of 0.3%. Tutor Perini’s dividend payout ratio is presently -45.28%.

Insider Buying and Selling at Tutor Perini

In other news, Director Peter Arkley acquired 24,853 shares of Tutor Perini stock in a transaction on Monday, November 24th. The stock was acquired at an average cost of $63.96 per share, with a total value of $1,589,597.88. Following the completion of the acquisition, the director owned 176,570 shares in the company, valued at approximately $11,293,417.20. This trade represents a 16.38% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gary G. Smalley bought 5,000 shares of the stock in a transaction on Wednesday, November 19th. The stock was purchased at an average price of $61.08 per share, for a total transaction of $305,400.00. Following the completion of the purchase, the chief executive officer owned 118,075 shares of the company’s stock, valued at approximately $7,212,021. This trade represents a 4.42% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders have acquired 45,000 shares of company stock valued at $2,870,313. 17.30% of the stock is owned by corporate insiders.

About Tutor Perini

Tutor Perini Corporation is a leading U.S. construction company that provides diversified general contracting, construction management and design-build services to private clients and public agencies. The company operates through three principal market segments—Civil, Building and Specialty Contractors—serving a broad range of infrastructure and vertical construction needs.

In its Civil segment, Tutor Perini delivers heavy civil infrastructure projects including highways and bridges, water management, dams, tunnels and rail systems.