Tutor Perini (NYSE:TPC) Posts Quarterly Earnings Results, Beats Expectations By $1.07 EPS

Tutor Perini (NYSE:TPC) issued its quarterly earnings results on Wednesday. The construction company reported $1.74 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $1.57 billion.

Tutor Perini Trading Down 1.6%

NYSE TPC traded down $1.33 during trading hours on Wednesday, hitting $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 cap of $4.44 billion, a price-to-earnings ratio of 57.40 and a beta of 2.05. The stock has a 50-day simple moving average of $78.34 and a 200 day simple moving average of $79.05. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.31. Tutor Perini has a 1-year low of $46.51 and a 1-year high of $100.00.

Insider Transactions at Tutor Perini

In other Tutor Perini news, Director Robert C. Lieber sold 17,500 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $75.36, for a total transaction of $1,318,800.00. Following the transaction, the director directly owned 149,410 shares in the company, valued at approximately $11,259,537.60. This represents a 10.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 15.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of TPC. Gendell Jeffrey L grew its holdings in Tutor Perini by 95.0% in the fourth quarter. Gendell Jeffrey L now owns 889,915 shares of the construction company’s stock worth $59,642,000 after purchasing an additional 433,559 shares during the period. Millennium Management LLC boosted its position in shares of 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 purchasing an additional 238,933 shares in the last quarter. Cubist Systematic Strategies LLC grew its stake in shares of Tutor Perini by 397.2% in 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 period. Nearwater Capital Markets Ltd bought a new stake in Tutor Perini in the 4th quarter valued at about $15,080,000. Finally, Marshall Wace LLP raised its stake in 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 buying an additional 203,378 shares during the period. 65.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

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.