Tutor Perini (NYSE:TPC) Shares Gap Up Following Better-Than-Expected Earnings

Shares of Tutor Perini Corporation (NYSE:TPC) gapped up before the market opened on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $84.55, but opened at $94.82. Tutor Perini shares last traded at $98.66, with a volume of 77,793 shares changing hands.

The construction company reported $1.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $1.07. The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.57 billion. Tutor Perini had a net margin of 1.37% and a return on equity of 19.92%. The firm’s quarterly revenue was up 19.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.38 earnings per share. Tutor Perini has set its FY 2026 guidance at 5.150-5.450 EPS.

Analyst Upgrades and Downgrades

TPC has been the topic of a number of recent analyst reports. Zacks Research lowered Tutor Perini from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 28th. UBS Group reaffirmed a “buy” rating on shares of Tutor Perini in a research note on Thursday. Wall Street Zen downgraded shares of Tutor Perini from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Tutor Perini in a research report on Friday, July 17th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $86.50.

Insider Buying and Selling at Tutor Perini

In related news, Director Robert C. Lieber sold 17,500 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $75.36, for a total transaction of $1,318,800.00. Following the completion of the sale, the director directly owned 149,410 shares in the company, valued at approximately $11,259,537.60. This trade represents a 10.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 15.40% of the company’s stock.

Institutional Trading of Tutor Perini

A number of institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. acquired a new stake in shares of Tutor Perini in the 1st quarter valued at $59,754,000. Gendell Jeffrey L increased its position in Tutor Perini by 95.0% during the fourth quarter. Gendell Jeffrey L now owns 889,915 shares of the construction company’s stock worth $59,642,000 after buying an additional 433,559 shares during the last quarter. Fred Alger Management LLC increased its position in Tutor Perini by 47.0% during the fourth quarter. Fred Alger Management LLC now owns 1,105,848 shares of the construction company’s stock worth $74,114,000 after buying an additional 353,744 shares during the last quarter. First Trust Advisors LP raised its holdings in Tutor Perini by 32.7% during the first quarter. First Trust Advisors LP now owns 1,358,899 shares of the construction company’s stock valued at $104,893,000 after buying an additional 334,632 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in Tutor Perini by 165.2% during the first quarter. Millennium Management LLC now owns 383,530 shares of the construction company’s stock valued at $8,890,000 after buying an additional 238,933 shares in the last quarter. 65.01% of the stock is currently owned by institutional investors and hedge funds.

Tutor Perini Stock Up 18.8%

The business has a 50-day simple moving average of $78.54 and a two-hundred day simple moving average of $79.12. The company has a market cap of $5.29 billion, a price-to-earnings ratio of 68.41 and a beta of 2.05. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.31.

Tutor Perini Company Profile

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.