Tutor Perini (NYSE:TPC) Sets New 1-Year High – Here’s Why

Tutor Perini Corporation (NYSE:TPC) shares reached a new 52-week high during trading on Thursday . The stock traded as high as $77.30 and last traded at $76.34, with a volume of 58141 shares changing hands. The stock had previously closed at $75.27.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Zacks Research lowered Tutor Perini from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Wall Street Zen downgraded shares of Tutor Perini from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 22nd. B. Riley reiterated a “buy” rating on shares of Tutor Perini in a research report on Thursday, November 6th. UBS Group boosted their price target 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. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Tutor Perini in a report on Wednesday. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $80.50.

Tutor Perini Stock Performance

The company’s 50-day moving average price is $68.84 and its two-hundred day moving average price is $62.32. The company has a market cap of $4.01 billion, a P/E ratio of -143.42 and a beta of 2.17. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.31.

Tutor Perini (NYSE:TPC) last released its earnings results on Wednesday, November 5th. The construction company reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.19. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.38 billion. Tutor Perini had a negative net margin of 0.55% and a positive return on equity of 7.07%. The business’s revenue for the quarter was up 30.7% on a year-over-year basis. 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.

Tutor Perini Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 23rd. Investors of record on Tuesday, December 9th were paid a $0.06 dividend. The ex-dividend date of this dividend was Tuesday, December 9th. This represents a $0.24 dividend on an annualized basis and a yield of 0.3%. Tutor Perini’s dividend payout ratio (DPR) is currently -45.28%.

Insider Transactions at Tutor Perini

In other news, CEO Gary G. Smalley bought 5,000 shares of the firm’s stock in a transaction on Wednesday, November 19th. The stock was bought at an average cost of $61.08 per share, for a total transaction of $305,400.00. Following the completion of the acquisition, the chief executive officer directly owned 118,075 shares in the company, valued at $7,212,021. This represents a 4.42% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Peter Arkley purchased 15,147 shares of the business’s stock in a transaction dated Tuesday, November 25th. The shares were purchased at an average price of $64.39 per share, for a total transaction of $975,315.33. Following the acquisition, the director directly owned 191,717 shares of the company’s stock, valued at $12,344,657.63. This trade represents a 8.58% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 45,000 shares of company stock valued at $2,870,313 over the last ninety days. Insiders own 17.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. First Trust Advisors LP lifted its stake in Tutor Perini by 4,166.1% in the 2nd quarter. First Trust Advisors LP now owns 1,153,214 shares of the construction company’s stock worth $53,947,000 after acquiring an additional 1,126,182 shares in the last quarter. Prudential Financial Inc. lifted its position in shares of Tutor Perini by 438.4% in the second 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. Assenagon Asset Management S.A. boosted its holdings in shares of Tutor Perini by 209.4% during the third 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 during the period. SG Americas Securities LLC boosted its holdings in shares of Tutor Perini by 11,487.7% during the fourth quarter. SG Americas Securities LLC now owns 366,054 shares of the construction company’s stock worth $24,533,000 after purchasing an additional 362,895 shares during the period. Finally, Millennium Management LLC grew its position 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 purchasing an additional 238,933 shares in the last quarter. Hedge funds and other institutional investors own 65.01% of the company’s stock.

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.