Tutor Perini (NYSE:TPC) Downgraded by Zacks Research to "Hold"

Key Points

• Zacks Research downgraded Tutor Perini from “strong buy” to “hold,” although the broader analyst consensus remains “Moderate Buy” with an average price target of $105.
• Tutor Perini reported strong quarterly results, posting $1.74 in EPS versus the $0.67 estimate and revenue of $1.64 billion, up 19.2% year over year.
• Insiders sold approximately $216.8 million of stock over the past 90 days, including substantial sales by Director Sidney Feltenstein and Chairman Ronald Tutor, while institutional ownership stands at 65.01%.

Tutor Perini (NYSE:TPC - Get Free Report) was downgraded by analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a report released on Monday, Zacks reports.

Several other research firms also recently commented on TPC. UBS Group lifted their price objective on shares of Tutor Perini from $98.00 to $105.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Wall Street Zen upgraded Tutor Perini from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 8th. Finally, Weiss Ratings upgraded Tutor Perini from a "sell (d-)" rating to a "hold (c+)" rating in a research note on Tuesday, September 22nd. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $105.00.

Tutor Perini Stock Performance

TPC opened at $88.97 on Monday. The company has a market cap of $4.68 billion, a P/E ratio of 38.35 and a beta of 2.06. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.29. The firm's 50-day moving average price is $88.21 and its 200-day moving average price is $82.47. Tutor Perini has a 52-week low of $57.90 and a 52-week high of $102.30.

Tutor Perini (NYSE:TPC - Get Free Report) last released its earnings results on Wednesday, August 5th. The construction company reported $1.74 EPS for the quarter, topping analysts' consensus estimates of $0.67 by $1.07. Tutor Perini had a net margin of 2.08% and a return on equity of 20.95%. The company had revenue of $1.64 billion during the quarter, compared to analysts' expectations of $1.57 billion. During the same period last year, the business earned $0.38 EPS. Tutor Perini'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. As a group, equities analysts anticipate that Tutor Perini will post 5.39 EPS for the current fiscal year.

Insider Transactions at Tutor Perini

In other Tutor Perini news, Director Sidney J. Feltenstein sold 184,209 shares of the business's stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $97.05, for a total value of $17,877,483.45. Following the completion of the transaction, the director directly owned 6,700 shares of the company's stock, valued at approximately $650,235. The trade was a 96.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Ronald N. Tutor sold 2,310,000 shares of the company's stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $85.59, for a total value of $197,712,900.00. Following the completion of the sale, the chairman owned 701,477 shares in the company, valued at approximately $60,039,416.43. This represents a 76.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 2,507,609 shares of company stock worth $216,823,719 over the last 90 days. 15.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tutor Perini

Several large investors have recently made changes to their positions in TPC. BlackRock Inc. acquired a new position in shares of Tutor Perini during the 2nd quarter worth approximately $358,248,000. Principal Financial Group Inc. purchased a new stake in Tutor Perini in the 1st quarter worth $59,754,000. Donald Smith & CO. Inc. purchased a new stake in Tutor Perini in the 2nd quarter worth $40,407,000. Fred Alger Management LLC raised its position in 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 worth $74,114,000 after acquiring an additional 353,744 shares during the period. Finally, First Trust Advisors LP raised its position 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 during the period. 65.01% of the stock is currently owned by institutional investors and hedge funds.

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.

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