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

Tutor Perini Corp (NYSE:TPC) announced 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 10.18%. The ex-dividend date of this dividend is Thursday, July 9th.

TPC opened at $11.66 on Wednesday. Tutor Perini has a 1-year low of $2.61 and a 1-year high of $19.48. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $602.37 million, a price-to-earnings ratio of -1.58 and a beta of 1.87. The business has a 50 day moving average of $11.23 and a 200-day moving average of $10.16.

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

TPC has been the subject of a number of recent research reports. ValuEngine lowered Tutor Perini from a “hold” rating to a “sell” rating in a research note on Wednesday, May 6th. Zacks Investment Research upgraded Tutor Perini from a “hold” rating to a “buy” rating and set a $7.00 target price for the company in a research note on Saturday, May 9th. Finally, B. Riley upped their target price on Tutor Perini from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a sell rating and three have given a buy rating to the stock. Tutor Perini has an average rating of “Buy” and a consensus price target of $14.33.

In related news, Director Michael R. Klein acquired 150,000 shares of the company’s stock in a transaction on Monday, May 18th. The stock was purchased at an average cost of $8.60 per share, for a total transaction of $1,290,000.00. Also, CFO Gary G. Smalley acquired 31,750 shares of the company’s stock in a transaction on Monday, May 18th. The shares were bought at an average price of $8.60 per share, with a total value of $273,050.00. Insiders have acquired 207,922 shares of company stock valued at $1,861,710 over the last quarter. Corporate insiders own 24.30% of the company’s stock.

About Tutor Perini

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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