Brokerages Set Tutor Perini Corporation (NYSE:TPC) Price Target at $66.33

Shares of Tutor Perini Corporation (NYSE:TPC) have been given a consensus rating of “Hold” by the five ratings firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $66.3333.

Several research analysts have issued reports on TPC shares. Zacks Research downgraded Tutor Perini from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Wall Street Zen cut Tutor Perini from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 22nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tutor Perini in a research report on Wednesday, October 8th. UBS Group upped their target price on shares of Tutor Perini from $67.00 to $86.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. Finally, B. Riley reiterated a “buy” rating on shares of Tutor Perini in a research report on Thursday, November 6th.

Insider Buying and Selling

In related news, CEO Gary G. Smalley purchased 5,000 shares of Tutor Perini 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 transaction, the chief executive officer directly owned 118,075 shares of the company’s stock, valued at approximately $7,212,021. This trade represents a 4.42% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Peter Arkley bought 24,853 shares of the business’s stock in a transaction on Monday, November 24th. The stock was bought at an average cost of $63.96 per share, for a total transaction of $1,589,597.88. Following the purchase, the director directly owned 176,570 shares of the company’s stock, valued at approximately $11,293,417.20. This trade represents a 16.38% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders purchased 45,000 shares of company stock worth $2,870,313 and sold 369,312 shares worth $23,767,545. 17.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tutor Perini

Several institutional investors and hedge funds have recently made changes to their positions in the company. Quarry LP raised its stake in Tutor Perini by 74.7% during the 3rd quarter. Quarry LP now owns 428 shares of the construction company’s stock worth $28,000 after buying an additional 183 shares during the period. Smartleaf Asset Management LLC increased its holdings in shares of Tutor Perini by 968.2% in the third quarter. Smartleaf Asset Management LLC now owns 470 shares of the construction company’s stock worth $31,000 after acquiring an additional 426 shares in the last quarter. New Age Alpha Advisors LLC bought a new stake in shares of Tutor Perini in the first quarter worth about $54,000. Comerica Bank raised its position in shares of Tutor Perini by 30.7% during the first quarter. Comerica Bank now owns 2,423 shares of the construction company’s stock worth $56,000 after purchasing an additional 569 shares during the period. Finally, Quadrant Capital Group LLC bought a new position in shares of Tutor Perini during the 3rd quarter valued at about $72,000. Institutional investors and hedge funds own 65.01% of the company’s stock.

Tutor Perini Price Performance

Tutor Perini stock opened at $68.55 on Friday. The business’s fifty day moving average is $64.45 and its two-hundred day moving average is $54.04. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.32 and a current ratio of 1.32. The firm has a market cap of $3.62 billion, a P/E ratio of -27.20 and a beta of 1.94. Tutor Perini has a 52 week low of $18.33 and a 52 week high of $77.00.

Tutor Perini (NYSE:TPC) last released its quarterly earnings results on Wednesday, November 5th. The construction company reported $1.15 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same period in the previous year, the business posted ($1.92) earnings per share. The firm’s revenue for the quarter 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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 23rd. Shareholders of record on Tuesday, December 9th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Tuesday, December 9th. Tutor Perini’s payout ratio is currently -45.28%.

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.