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

Tutor Perini Corporation (NYSE:TPC) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as $82.50 and last traded at $80.41, with a volume of 29132 shares traded. The stock had previously closed at $80.11.

Analyst Upgrades and Downgrades

TPC has been the subject of several analyst reports. B. Riley reaffirmed a “buy” rating on shares of Tutor Perini in a research note on Thursday, November 6th. Wall Street Zen downgraded Tutor Perini from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 22nd. Zacks Research cut shares of Tutor Perini from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. UBS Group raised their target price on shares of Tutor Perini from $67.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tutor Perini in a research note on Wednesday, January 21st. 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 stock has a consensus rating of “Hold” and an average target price of $80.50.

Tutor Perini Stock Up 2.7%

The company has a market cap of $4.34 billion, a P/E ratio of -154.33 and a beta of 2.20. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.30 and a current ratio of 1.30. The business’s fifty day moving average is $71.04 and its two-hundred day moving average is $64.01.

Tutor Perini (NYSE:TPC) last issued 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. Tutor Perini had a negative net margin of 0.55% and a positive return on equity of 7.07%. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same period last year, the company posted ($1.92) earnings per share. The company’s quarterly revenue was up 30.7% compared to the same quarter last year. Tutor Perini has set its FY 2025 guidance at 4.000-4.200 EPS.

Tutor Perini Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 23rd. Shareholders of record on Tuesday, December 9th were given a dividend of $0.06 per share. 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 payout ratio is -45.28%.

Insider Activity at Tutor Perini

In related news, CEO Gary G. Smalley purchased 5,000 shares of the business’s stock in a transaction dated Wednesday, November 19th. The shares were acquired at an average cost of $61.08 per share, for a total transaction of $305,400.00. Following the acquisition, the chief executive officer owned 118,075 shares of the company’s stock, valued at $7,212,021. The trade was a 4.42% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Peter Arkley purchased 15,147 shares of Tutor Perini stock in a transaction dated Tuesday, November 25th. The stock was bought at an average cost of $64.39 per share, with a total value of $975,315.33. Following the completion of the transaction, the director owned 191,717 shares in the company, valued at approximately $12,344,657.63. This represents a 8.58% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought a total of 45,000 shares of company stock valued at $2,870,313 in the last ninety days. Corporate insiders own 17.30% of the company’s stock.

Hedge Funds Weigh In On Tutor Perini

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Navellier & Associates Inc. raised its holdings in Tutor Perini by 27.0% in the fourth quarter. Navellier & Associates Inc. now owns 27,750 shares of the construction company’s stock worth $1,860,000 after purchasing an additional 5,904 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC grew its position in shares of Tutor Perini by 18.0% in the 4th quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,565 shares of the construction company’s stock worth $306,000 after buying an additional 695 shares during the last quarter. Truist Financial Corp bought a new position in shares of Tutor Perini during the 4th quarter worth approximately $336,000. Oppenheimer Asset Management Inc. purchased a new stake in Tutor Perini during the fourth quarter valued at approximately $354,000. Finally, Levin Capital Strategies L.P. lifted its position in Tutor Perini by 10.0% during the fourth quarter. Levin Capital Strategies L.P. now owns 5,500 shares of the construction company’s stock valued at $369,000 after acquiring an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 65.01% of the company’s stock.

About Tutor Perini

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.