Tutor Perini (NYSE:TPC) Cut to Buy at Wall Street Zen

Wall Street Zen lowered shares of Tutor Perini (NYSE:TPC) from a strong-buy rating to a buy rating in a research note published on Saturday morning.

A number of other equities analysts have also recently commented on the stock. UBS Group lifted their target price on shares of Tutor Perini from $67.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Zacks Research downgraded Tutor Perini from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Tutor Perini in a research note on Wednesday, October 8th. Finally, B. Riley restated a “buy” rating on shares of Tutor Perini in a research report on Thursday, November 6th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $66.33.

Tutor Perini Stock Performance

Shares of NYSE TPC opened at $63.96 on Friday. The stock’s 50-day moving average is $64.25 and its 200 day moving average is $53.35. The stock has a market cap of $3.37 billion, a price-to-earnings ratio of -25.38 and a beta of 1.94. Tutor Perini has a 1-year low of $18.33 and a 1-year high of $77.00. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.32.

Tutor Perini (NYSE:TPC) last issued its quarterly earnings results on Wednesday, November 5th. 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 analysts’ expectations of $1.38 billion. Tutor Perini had a negative net margin of 2.77% and a negative return on equity of 6.41%. The business’s quarterly revenue was up 30.7% on a year-over-year basis. During the same period last year, the business earned ($1.92) earnings per share. Tutor Perini has set its FY 2025 guidance at 4.000-4.200 EPS.

Tutor Perini Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 23rd. Investors of record on Tuesday, December 9th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Tuesday, December 9th. This represents a $0.24 annualized dividend and a dividend yield of 0.4%. Tutor Perini’s dividend payout ratio (DPR) is presently -45.28%.

Insider Buying and Selling at Tutor Perini

In related news, Chairman Ronald N. Tutor sold 116,856 shares of the company’s stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $64.21, for a total transaction of $7,503,323.76. Following the completion of the transaction, the chairman owned 4,154,129 shares in the company, valued at $266,736,623.09. This represents a 2.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Gary G. Smalley purchased 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 19th. The stock was acquired at an average cost of $61.08 per share, with a total value of $305,400.00. Following the purchase, the chief executive officer directly owned 118,075 shares of the company’s stock, valued at $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. Insiders sold 449,972 shares of company stock valued at $28,603,112 in the last 90 days. Insiders own 17.30% of the company’s stock.

Institutional Investors Weigh In On Tutor Perini

Several institutional investors and hedge funds have recently modified their holdings of the stock. CIBC Bancorp USA Inc. bought a new stake in shares of Tutor Perini during the 3rd quarter valued at about $311,000. CANADA LIFE ASSURANCE Co lifted its holdings in Tutor Perini by 212.3% in the third quarter. CANADA LIFE ASSURANCE Co now owns 11,704 shares of the construction company’s stock worth $765,000 after buying an additional 7,956 shares during the period. Caxton Associates LLP boosted its position in Tutor Perini by 5.5% during the 3rd quarter. Caxton Associates LLP now owns 72,791 shares of the construction company’s stock valued at $4,774,000 after acquiring an additional 3,784 shares in the last quarter. Voleon Capital Management LP grew its holdings in shares of Tutor Perini by 213.7% during the 3rd quarter. Voleon Capital Management LP now owns 150,508 shares of the construction company’s stock worth $9,872,000 after acquiring an additional 102,535 shares during the period. Finally, Voloridge Investment Management LLC bought a new position in shares of Tutor Perini in the 3rd quarter worth approximately $10,573,000. 65.01% of the stock is owned by hedge funds and other institutional investors.

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