Tutor Perini (NYSE:TPC) Announces Earnings Results

Tutor Perini (NYSE:TPC) announced its quarterly earnings data on Wednesday. The construction company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.19, FiscalAI reports. Tutor Perini had a negative return on equity of 6.41% and a negative net margin of 2.77%.The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same quarter last year, the business posted ($1.92) EPS. The business’s quarterly revenue was up 30.7% compared to the same quarter last year. Tutor Perini updated its FY 2025 guidance to 4.000-4.200 EPS.

Tutor Perini Stock Performance

Tutor Perini stock traded down $3.61 during mid-day trading on Friday, hitting $63.79. 116,283 shares of the company’s stock traded hands, compared to its average volume of 646,702. Tutor Perini has a one year low of $18.33 and a one year high of $77.00. The company has a market cap of $3.36 billion, a PE ratio of -25.12 and a beta of 1.94. The firm has a 50 day moving average price of $64.26 and a 200 day moving average price of $49.79. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.32.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on TPC shares. UBS Group upped their price objective on Tutor Perini from $67.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday. Weiss Ratings restated a “sell (d-)” rating on shares of Tutor Perini in a research note on Wednesday, October 8th. Wall Street Zen upgraded shares of Tutor Perini from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 11th. B. Riley restated a “buy” rating on shares of Tutor Perini in a research report on Thursday. Finally, Zacks Research cut shares of Tutor Perini from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $66.33.

Insider Transactions at Tutor Perini

In related news, Director Sidney J. Feltenstein sold 124,668 shares of the firm’s stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $65.96, for a total value of $8,223,101.28. Following the completion of the transaction, the director owned 187,274 shares of the company’s stock, valued at approximately $12,352,593.04. This trade represents a 39.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Ronald N. Tutor sold 83,144 shares of the business’s stock in a transaction that occurred 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 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 disclosure for this sale is available in the SEC filing. Insiders sold a total of 725,000 shares of company stock valued at $44,824,931 over the last three months. 17.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tutor Perini

A number of institutional investors have recently modified their holdings of TPC. Osaic Holdings Inc. boosted its stake in shares of Tutor Perini by 328,325.0% during the second quarter. Osaic Holdings Inc. now owns 13,137 shares of the construction company’s stock valued at $614,000 after purchasing an additional 13,133 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in Tutor Perini by 54.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,773 shares of the construction company’s stock valued at $364,000 after buying an additional 2,729 shares during the last quarter. Vident Advisory LLC acquired a new stake in Tutor Perini during the 2nd quarter worth approximately $590,000. Voleon Capital Management LP grew its holdings in Tutor Perini by 189.0% during the 2nd quarter. Voleon Capital Management LP now owns 47,973 shares of the construction company’s stock worth $2,244,000 after acquiring an additional 31,372 shares during the last quarter. Finally, Lazard Asset Management LLC increased its position in Tutor Perini by 108.9% in the 2nd quarter. Lazard Asset Management LLC now owns 21,013 shares of the construction company’s stock valued at $981,000 after acquiring an additional 10,954 shares during the period. Institutional investors and hedge funds 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.