Tutor Perini (NYSE:TPC) Sets New 12-Month High on Strong Earnings

Shares of Tutor Perini Corporation (NYSE:TPC) hit a new 52-week high during mid-day trading on Thursday following a better than expected earnings announcement. The company traded as high as $77.00 and last traded at $68.7820, with a volume of 64793 shares changing hands. The stock had previously closed at $67.92.

The construction company reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.19. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.38 billion. Tutor Perini had a negative net margin of 2.77% and a negative return on equity of 6.41%. Tutor Perini’s quarterly revenue was up 30.7% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.92) EPS. Tutor Perini has set its FY 2025 guidance at 4.000-4.200 EPS.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on TPC shares. Wall Street Zen raised Tutor Perini from a “buy” rating to a “strong-buy” rating in a report on Monday, August 11th. UBS Group lifted their target price on Tutor Perini from $67.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday. B. Riley restated a “buy” rating on shares of Tutor Perini in a research note on Thursday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tutor Perini in a research note on Wednesday, October 8th. Finally, Zacks Research cut shares of Tutor Perini from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $66.33.

Insider Activity

In other Tutor Perini news, Chairman Ronald N. Tutor sold 83,144 shares of Tutor Perini stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $64.94, for a total value of $5,399,371.36. Following the transaction, the chairman owned 4,062,985 shares in the company, valued at $263,850,245.90. The trade was a 2.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Sidney J. Feltenstein sold 124,668 shares of the stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $65.96, for a total transaction of $8,223,101.28. Following the completion of the transaction, the director directly owned 187,274 shares of the company’s stock, valued at $12,352,593.04. This trade represents a 39.97% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 725,000 shares of company stock worth $44,824,931 over the last ninety days. 17.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tutor Perini

Institutional investors have recently made changes to their positions in the stock. Smartleaf Asset Management LLC raised its position in shares of Tutor Perini by 968.2% during the third quarter. Smartleaf Asset Management LLC now owns 470 shares of the construction company’s stock worth $31,000 after acquiring an additional 426 shares during the last quarter. USA Financial Formulas bought a new position in Tutor Perini during the 3rd quarter worth approximately $90,000. New Age Alpha Advisors LLC acquired a new position in shares of Tutor Perini in the 1st quarter worth approximately $54,000. Comerica Bank boosted its stake in shares of Tutor Perini by 30.7% in 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, State of Alaska Department of Revenue acquired a new stake in shares of Tutor Perini during the third quarter worth $192,000. Institutional investors own 65.01% of the company’s stock.

Tutor Perini Price Performance

The firm has a market cap of $3.32 billion, a P/E ratio of -24.99 and a beta of 1.94. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.32. The business’s 50 day moving average is $64.34 and its two-hundred day moving average is $49.88.

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 in the United States and internationally. It operates through three segments: Civil, Building, and Specialty Contractors.