Tutor Perini (NYSE:TPC) Reaches New 12-Month High – Here’s What Happened

Tutor Perini Corporation (NYSE:TPC) shares hit a new 52-week high on Thursday . The stock 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.

Analyst Upgrades and Downgrades

TPC has been the subject of several recent analyst reports. Wall Street Zen raised Tutor Perini from a “buy” rating to a “strong-buy” rating in a report on Monday, August 11th. Zacks Research lowered Tutor Perini from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. B. Riley upped their target price on Tutor Perini from $50.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, August 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tutor Perini in a research note on Wednesday, October 8th. Finally, UBS Group upped their target price on Tutor Perini from $59.00 to $67.00 and gave the stock a “buy” rating in a research note on Thursday, August 7th. 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. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $60.00.

Tutor Perini Stock Down 0.6%

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 company’s 50 day moving average is $64.11 and its two-hundred day moving average is $49.66. The company has a market capitalization of $3.56 billion, a PE ratio of -26.28 and a beta of 1.94.

Tutor Perini (NYSE:TPC) last released its quarterly earnings data on Wednesday, November 5th. The construction company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.89). The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.38 billion. Tutor Perini had a negative return on equity of 6.41% and a negative net margin of 2.77%.The business’s revenue was up 30.7% compared to the same quarter last year. During the same period in the previous year, the firm earned ($1.92) EPS. Tutor Perini has set its FY 2025 guidance at 4.000-4.200 EPS.

Insider Buying and Selling at Tutor Perini

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

Institutional Investors Weigh In On Tutor Perini

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. First Trust Advisors LP grew its stake in shares of Tutor Perini by 4,166.1% in the second quarter. First Trust Advisors LP now owns 1,153,214 shares of the construction company’s stock valued at $53,947,000 after buying an additional 1,126,182 shares in the last quarter. Donald Smith & CO. Inc. grew its stake in Tutor Perini by 16.8% during the 1st quarter. Donald Smith & CO. Inc. now owns 4,031,220 shares of the construction company’s stock worth $93,444,000 after purchasing an additional 580,963 shares in the last quarter. Pacer Advisors Inc. acquired a new position in Tutor Perini during the 1st quarter worth $13,122,000. Prudential Financial Inc. grew its stake in Tutor Perini by 438.4% during the 2nd quarter. Prudential Financial Inc. now owns 610,720 shares of the construction company’s stock worth $28,569,000 after purchasing an additional 497,296 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in Tutor Perini by 209.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 720,405 shares of the construction company’s stock worth $47,251,000 after purchasing an additional 487,529 shares in the last quarter. Hedge funds and other institutional investors own 65.01% of the company’s stock.

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.