Tutor Perini (NYSE:TPC) Releases Earnings Results, Beats Estimates By $1.07 EPS

Tutor Perini (NYSE:TPC) issued its earnings results on Wednesday. The construction company reported $1.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $1.07, FiscalAI reports. Tutor Perini had a return on equity of 19.92% and a net margin of 1.37%.The company had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.57 billion.

Tutor Perini Stock Performance

Tutor Perini stock traded down $1.33 during mid-day trading on Wednesday, reaching $84.38. 651,903 shares of the company’s stock were exchanged, compared to its average volume of 651,323. The firm has a market capitalization of $4.44 billion, a PE ratio of 57.40 and a beta of 2.05. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.31. The business’s fifty day simple moving average is $78.34 and its 200 day simple moving average is $79.05. Tutor Perini has a one year low of $46.51 and a one year high of $100.00.

Analyst Ratings Changes

Several equities research analysts have recently commented on TPC shares. Wall Street Zen downgraded shares of Tutor Perini from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 9th. Zacks Research cut shares of Tutor Perini from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 28th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Tutor Perini in a research note on Friday, July 17th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $86.50.

Insiders Place Their Bets

In related news, Director Robert C. Lieber sold 17,500 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $75.36, for a total transaction of $1,318,800.00. Following the completion of the transaction, the director owned 149,410 shares in the company, valued at approximately $11,259,537.60. This represents a 10.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 15.40% of the company’s stock.

Institutional Investors Weigh In On Tutor Perini

Several large investors have recently modified their holdings of the stock. Gendell Jeffrey L grew its holdings in Tutor Perini by 95.0% during the fourth quarter. Gendell Jeffrey L now owns 889,915 shares of the construction company’s stock valued at $59,642,000 after purchasing an additional 433,559 shares during the period. Millennium Management LLC raised its stake in shares of Tutor Perini by 165.2% in the first quarter. Millennium Management LLC now owns 383,530 shares of the construction company’s stock valued at $8,890,000 after buying an additional 238,933 shares during the period. Cubist Systematic Strategies LLC lifted its position in shares of Tutor Perini by 397.2% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 292,077 shares of the construction company’s stock valued at $13,663,000 after buying an additional 233,335 shares during the last quarter. Nearwater Capital Markets Ltd purchased a new position in shares of Tutor Perini during the 4th quarter valued at $15,080,000. Finally, Marshall Wace LLP grew its stake in shares of Tutor Perini by 243.1% during the 3rd quarter. Marshall Wace LLP now owns 287,025 shares of the construction company’s stock worth $18,826,000 after acquiring an additional 203,378 shares during the period. Hedge funds and other institutional investors own 65.01% of the company’s stock.

Tutor Perini Company Profile

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.