Tutor Perini (NYSE:TPC) Stock Passes Above 200 Day Moving Average – Here’s Why

Tutor Perini Corporation (NYSE:TPC)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $61.25 and traded as high as $76.45. Tutor Perini shares last traded at $75.1990, with a volume of 340,784 shares changing hands.

Wall Street Analysts Forecast Growth

TPC has been the topic of a number of recent analyst reports. Zacks Research cut Tutor Perini from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. UBS Group increased their price objective on shares of Tutor Perini from $67.00 to $86.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Wall Street Zen cut shares of Tutor Perini from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 22nd. B. Riley reiterated a “buy” rating on shares of Tutor Perini in a research report on Thursday, November 6th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Tutor Perini in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $80.50.

Tutor Perini Stock Up 1.8%

The firm’s fifty day moving average is $67.21 and its 200-day moving average is $61.25. The company has a market capitalization of $3.97 billion, a P/E ratio of -141.88 and a beta of 2.17. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.30 and a current ratio of 1.30.

Tutor Perini (NYSE:TPC) last issued its earnings results on Wednesday, November 5th. The construction company reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.19. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.38 billion. Tutor Perini had a negative net margin of 0.55% and a positive return on equity of 7.07%. The company’s quarterly revenue was up 30.7% on a year-over-year basis. During the same quarter last year, the business posted ($1.92) earnings per share. Tutor Perini has set its FY 2025 guidance at 4.000-4.200 EPS.

Tutor Perini Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 23rd. Investors of record on Tuesday, December 9th were given a dividend of $0.06 per share. The ex-dividend date 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 currently -45.28%.

Insider Activity

In other news, CEO Gary G. Smalley purchased 5,000 shares of the business’s stock in a transaction dated Wednesday, November 19th. The shares were purchased at an average cost of $61.08 per share, with a total value of $305,400.00. Following the completion of the purchase, the chief executive officer owned 118,075 shares of the company’s stock, valued at $7,212,021. This trade represents a 4.42% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Peter Arkley purchased 24,853 shares of Tutor Perini stock in a transaction dated Monday, November 24th. The shares were purchased at an average price of $63.96 per share, for a total transaction of $1,589,597.88. Following the completion of the acquisition, the director owned 176,570 shares of the company’s stock, valued at approximately $11,293,417.20. The trade was a 16.38% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 45,000 shares of company stock valued at $2,870,313 over the last quarter. Corporate insiders own 17.30% of the company’s stock.

Hedge Funds Weigh In On Tutor Perini

Large investors have recently modified their holdings of the business. Comerica Bank grew its stake in shares of Tutor Perini by 30.7% in 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 last quarter. AQR Capital Management LLC lifted its holdings in Tutor Perini by 42.0% during the 1st quarter. AQR Capital Management LLC now owns 183,267 shares of the construction company’s stock worth $4,248,000 after buying an additional 54,204 shares during the period. Millennium Management LLC lifted its holdings in Tutor Perini by 165.2% during the 1st quarter. Millennium Management LLC now owns 383,530 shares of the construction company’s stock worth $8,890,000 after buying an additional 238,933 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Tutor Perini by 13.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 580,821 shares of the construction company’s stock valued at $13,463,000 after buying an additional 69,489 shares during the last quarter. Finally, Strs Ohio acquired a new stake in shares of Tutor Perini in the first quarter valued at about $596,000. 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.