Tutor Perini (NYSE:TPC) Cut to “Hold” at Zacks Research

Zacks Research lowered shares of Tutor Perini (NYSE:TPC) from a strong-buy rating to a hold rating in a research note published on Monday morning,Zacks reports.

Several other analysts also recently issued reports on the stock. UBS Group upped their price objective on shares of Tutor Perini from $98.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Wall Street Zen raised shares of Tutor Perini from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Finally, Weiss Ratings upgraded shares of Tutor Perini from a “sell (d-)” rating to a “hold (c+)” rating in a report on Tuesday, September 22nd. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Tutor Perini currently has an average rating of “Moderate Buy” and a consensus target price of $105.00.

Tutor Perini Trading Down 3.4%

NYSE:TPC opened at $86.00 on Monday. The company has a market capitalization of $4.53 billion, a P/E ratio of 37.07 and a beta of 2.06. The stock’s 50 day moving average price is $88.40 and its 200 day moving average price is $82.57. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.29 and a current ratio of 1.29. Tutor Perini has a 52 week low of $57.90 and a 52 week high of $102.30.

Tutor Perini (NYSE:TPC) last issued its quarterly earnings data on Wednesday, August 5th. The construction company reported $1.74 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $1.07. Tutor Perini had a return on equity of 20.95% and a net margin of 2.08%.The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.57 billion. During the same quarter in the prior year, the firm posted $0.38 EPS. The firm’s revenue for the quarter was up 19.2% on a year-over-year basis. Tutor Perini has set its FY 2026 guidance at 5.150-5.450 EPS. On average, research analysts forecast that Tutor Perini will post 5.39 EPS for the current fiscal year.

Tutor Perini Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Wednesday, August 19th were paid a $0.09 dividend. The ex-dividend date was Wednesday, August 19th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.4%. This is a positive change from Tutor Perini’s previous quarterly dividend of $0.06. Tutor Perini’s dividend payout ratio is currently 15.52%.

Insider Transactions at Tutor Perini

In related news, Chairman Ronald N. Tutor sold 2,310,000 shares of the company’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $85.59, for a total value of $197,712,900.00. Following the sale, the chairman owned 701,477 shares of the company’s stock, valued at $60,039,416.43. The trade was a 76.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Dale Reiss sold 13,400 shares of the stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $92.04, for a total transaction of $1,233,336.00. Following the completion of the transaction, the director directly owned 31,203 shares of the company’s stock, valued at $2,871,924.12. This trade represents a 30.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 2,507,609 shares of company stock valued at $216,823,719. Company insiders own 15.40% of the company’s stock.

Institutional Investors Weigh In On Tutor Perini

Large investors have recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in Tutor Perini in the 2nd quarter valued at $358,248,000. Dimensional Fund Advisors LP raised its stake in Tutor Perini by 0.7% during the first quarter. Dimensional Fund Advisors LP now owns 1,732,254 shares of the construction company’s stock worth $133,697,000 after acquiring an additional 12,573 shares in the last quarter. First Trust Advisors LP raised its stake in Tutor Perini by 32.7% during the first quarter. First Trust Advisors LP now owns 1,358,899 shares of the construction company’s stock worth $104,893,000 after acquiring an additional 334,632 shares in the last quarter. Fred Alger Management LLC lifted its holdings in shares of Tutor Perini by 47.0% during the fourth quarter. Fred Alger Management LLC now owns 1,105,848 shares of the construction company’s stock valued at $74,114,000 after acquiring an additional 353,744 shares during the period. Finally, Principal Financial Group Inc. acquired a new stake in shares of Tutor Perini in the 1st quarter valued at $59,754,000. 65.01% of the stock is currently owned by institutional investors.

About Tutor Perini

Tutor Perini Corporation (NYSE:TPC) is a major construction company that provides general contracting, construction management and design-build services. The company works on complex public and private projects, including transportation infrastructure, commercial buildings, healthcare facilities, hospitality properties, residential developments and institutional projects.

Tutor Perini operates through civil, building and specialty contractor businesses. Its civil construction activities include highways, bridges, tunnels, mass-transit systems, airports, water and wastewater facilities, and other heavy infrastructure.