Tutor Perini (NYSE:TPC) Downgraded to Buy Rating by Wall Street Zen

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

Several other brokerages also recently issued reports on TPC. Zacks Research downgraded shares of Tutor Perini from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tutor Perini in a research note on Wednesday, October 8th. B. Riley reiterated a “buy” rating on shares of Tutor Perini in a report on Thursday, November 6th. Finally, UBS Group raised their target price on Tutor Perini from $67.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $66.33.

Tutor Perini Stock Up 2.0%

Shares of Tutor Perini stock opened at $60.97 on Friday. Tutor Perini has a twelve month low of $18.33 and a twelve month high of $77.00. The stock has a market cap of $3.22 billion, a price-to-earnings ratio of -24.19 and a beta of 1.94. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.32. The company has a fifty day moving average price of $64.25 and a 200 day moving average price of $52.86.

Tutor Perini (NYSE:TPC) last issued its quarterly earnings data on Wednesday, November 5th. The construction company reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.19. Tutor Perini had a negative return on equity of 6.41% and a negative net margin of 2.77%.The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.38 billion. During the same quarter in the previous year, the firm posted ($1.92) earnings per share. The firm’s quarterly revenue was up 30.7% on a year-over-year basis. Tutor Perini has set its FY 2025 guidance at 4.000-4.200 EPS.

Tutor Perini Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 23rd. Investors of record on Tuesday, December 9th will be issued 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 -45.28%.

Insider Activity at Tutor Perini

In other news, Chairman Ronald N. Tutor sold 116,856 shares of the business’s stock in a transaction on Wednesday, September 17th. The shares were 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 of the company’s stock, valued at approximately $266,736,623.09. The trade was a 2.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Sidney J. Feltenstein sold 124,668 shares of the company’s 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 transaction, the director owned 187,274 shares of the company’s stock, valued at $12,352,593.04. This represents a 39.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 645,000 shares of company stock worth $40,132,931 in the last 90 days. 17.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp increased its position in Tutor Perini by 7.6% in the 1st quarter. Bank of New York Mellon Corp now owns 127,546 shares of the construction company’s stock valued at $2,957,000 after acquiring an additional 9,001 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Tutor Perini by 75.1% during the 1st 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 period. Voya Investment Management LLC grew its stake in shares of Tutor Perini by 70.0% in the first quarter. Voya Investment Management LLC now owns 22,573 shares of the construction company’s stock worth $523,000 after purchasing an additional 9,294 shares in the last quarter. New Age Alpha Advisors LLC acquired a new position in shares of Tutor Perini during the first quarter valued at $54,000. Finally, Victory Capital Management Inc. bought a new stake in shares of Tutor Perini during the first quarter valued at about $1,244,000. 65.01% of the stock is owned by institutional investors and hedge funds.

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.