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

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

A number of other hedge funds and other institutional investors also recently made changes to their positions in TPC. American Century Companies Inc. increased its holdings in Tutor Perini by 24.5% in the 2nd quarter. American Century Companies Inc. now owns 989,612 shares of the construction company’s stock valued at $46,294,000 after buying an additional 194,729 shares during the period. Convergence Investment Partners LLC bought a new position in Tutor Perini in the third quarter valued at approximately $1,315,000. Kingsview Wealth Management LLC bought a new stake in Tutor Perini during the second quarter worth $426,000. AXQ Capital LP bought a new stake in Tutor Perini during the second quarter worth $471,000. Finally, Prudential Financial Inc. increased its stake in shares of Tutor Perini by 438.4% in the 2nd quarter. Prudential Financial Inc. now owns 610,720 shares of the construction company’s stock valued at $28,569,000 after purchasing an additional 497,296 shares during the last quarter. 65.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Gary G. Smalley acquired 5,000 shares of Tutor Perini stock in a transaction dated Wednesday, November 19th. The stock was bought at an average price of $61.08 per share, with a total value of $305,400.00. Following the transaction, the chief executive officer directly owned 118,075 shares in the company, valued at $7,212,021. This represents a 4.42% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Peter Arkley acquired 15,147 shares of the stock in a transaction dated Tuesday, November 25th. The stock was bought at an average price of $64.39 per share, with a total value of $975,315.33. Following the purchase, the director directly owned 191,717 shares in the company, valued at $12,344,657.63. This represents a 8.58% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have purchased 45,000 shares of company stock worth $2,870,313. 17.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

Tutor Perini Stock Performance

NYSE TPC opened at $83.68 on Friday. The company has a market capitalization of $4.41 billion, a price-to-earnings ratio of -157.88 and a beta of 2.21. Tutor Perini Corporation has a twelve month low of $18.33 and a twelve month high of $84.65. The stock has a fifty day simple moving average of $72.15 and a 200 day simple moving average of $64.69. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.31.

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

Tutor Perini Announces Dividend

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

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.