Tutor Perini Corporation (NYSE:TPC) Receives Average Recommendation of “Hold” from Analysts

Tutor Perini Corporation (NYSE:TPC) has been given an average recommendation of “Hold” by the five ratings firms that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $66.3333.

Several analysts have recently weighed in on TPC shares. B. Riley reaffirmed a “buy” rating on shares of Tutor Perini in a report on Thursday, November 6th. Wall Street Zen lowered Tutor Perini from a “strong-buy” rating to a “buy” rating in a report on Saturday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tutor Perini in a research report on Wednesday, October 8th. Zacks Research cut Tutor Perini from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Finally, UBS Group upped their price objective on Tutor Perini from $67.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, November 6th.

Tutor Perini Stock Performance

Shares of TPC stock opened at $60.97 on Friday. The stock has a market capitalization of $3.22 billion, a PE ratio of -24.19 and a beta of 1.94. Tutor Perini has a 52-week low of $18.33 and a 52-week high of $77.00. The stock’s 50-day moving average price is $64.25 and its 200 day moving average price is $52.62. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.32.

Tutor Perini (NYSE:TPC) last posted its quarterly earnings data on Wednesday, November 5th. The construction company reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates 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 negative return on equity of 6.41% and a negative net margin of 2.77%.The firm’s revenue for the quarter was up 30.7% on a year-over-year basis. During the same period last year, the firm earned ($1.92) EPS. Tutor Perini has set its FY 2025 guidance at 4.000-4.200 EPS.

Tutor Perini Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 23rd. Investors of record on Tuesday, December 9th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Tuesday, December 9th. This represents a $0.24 dividend on an annualized basis and a yield of 0.4%. Tutor Perini’s payout ratio is currently -45.28%.

Insider Activity

In other news, CEO Gary G. Smalley bought 5,000 shares of the stock in a transaction on Wednesday, November 19th. The shares were bought at an average price of $61.08 per share, with a total value of $305,400.00. Following the completion of the acquisition, the chief executive officer owned 118,075 shares of the company’s stock, valued at approximately $7,212,021. This trade represents a 4.42% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Ronald N. Tutor sold 83,144 shares of Tutor Perini stock in a transaction on 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 directly owned 4,062,985 shares of the company’s stock, valued at $263,850,245.90. This trade represents a 2.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 645,000 shares of company stock worth $40,132,931. Company insiders own 17.30% of the company’s stock.

Hedge Funds Weigh In On Tutor Perini

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Tutor Perini by 75.1% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,363 shares of the construction company’s stock worth $542,000 after acquiring an additional 10,018 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Tutor Perini by 7.6% during the first quarter. Bank of New York Mellon Corp now owns 127,546 shares of the construction company’s stock worth $2,957,000 after purchasing an additional 9,001 shares during the period. Voya Investment Management LLC boosted its holdings in shares of Tutor Perini by 70.0% in the 1st quarter. Voya Investment Management LLC now owns 22,573 shares of the construction company’s stock valued at $523,000 after purchasing an additional 9,294 shares during the last quarter. New Age Alpha Advisors LLC purchased a new stake in shares of Tutor Perini during the 1st quarter valued at $54,000. Finally, Victory Capital Management Inc. acquired a new stake in shares of Tutor Perini during the 1st quarter worth $1,244,000. Institutional investors and hedge funds own 65.01% of the company’s stock.

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.