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TPC $25.65

TPC target price
25.65
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Tutor Perini Corporation
Type
Public
Traded as NYSE: TPC
Industry construction
Founded 1894
Headquarters Sylmar, California, United States
Key people
Ronald Tutor, CEO
Revenue USD 4.2 billion (as of 2013)
Net income
USD 87 million (as of 2013)
Number of employees
approx. 10,000
Website www.tutorperini.com

Tutor Perini Corporation (formerly Perini Corporation) is one of the largest general contractors in the United States. At the end of 2013 it reported an annual revenue of approximately $4.2 billion. Tutor Perini is headquartered in Sylmar, California, and works on many construction projects throughout the United States and Canada. Specific areas of focus are civil infrastructure (bridges, highways, tunnels, airports, mass transit systems), building infrastructure (healthcare, education, municipal government, hospitality and gaming, multi-use, office towers, multi-unit residential towers, high-technology projects), and specialty contracting (electrical, mechanical, plumbing, heating, air conditioning and ventilation (HVAC), fire protection systems, concrete placement).

Perini was founded in 1894 by a stonemason named Bonfiglio Perini. Under the direction of Bonfiglio's grandson, Lou Perini, the company moved into the real-estate business, developing 4,500 acres (1,800 ha) in Palm Beach County, Florida. Later real-estate ventures were less successful, leaving the company deeply in debt by the mid-1990s. In 1997, Perini recapitalized, passing control to a California-based investor group led by Los Angeles-based construction executive Ronald Tutor and investor Richard Blum.

Perini was listed on the NYSE on April 1, 2004. Later that year it acquired Cherry Hill Construction, a contractor in Maryland, and in 2003 it acquired Florida-based James A. Cummings and in 2005, California-based Rudolph & Sletten, Inc.. In January 2009, the corporation acquired Philadelphia-based building contractor Keating.

While Perini maintained headquarters in Framingham, Massachusetts it commonly bid on many heavy construction projects in Massachusetts. The corporation is now headquartered in Sylmar, California. The company is heavily involved in civil infrastructure, as well as construction for the gaming and hospitality industries.

Richard Blum divested his Perini stock in 2005. In May 2009, Perini shareholders voted to change the company's name to Tutor Perini Corporation. Subsequent to its name change, Tutor Perini Corporation strengthened its focus towards expanding its geographical footprint throughout the United States. In order to facilitate this strategy, Tutor Perini issued $300 million of Senior Notes in October 2010. Tutor Perini proceeded to acquire six companies over the next nine months. These acquisitions include:

November 1, 2010 - Superior Gunite, a structural concrete firm headquartered in Lakeview Terrace, CA.

January 3, 2011 – Fisk Electric, a provider of electrical and technological services headquartered in Houston, TX

April 4, 2011 – Anderson Companies, a general contractor headquartered in Gulfport, MS

June 1, 2011 – Frontier-Kemper Constructors, a provider of numerous construction services including civil construction, mine development, drilling, tunneling, and electrical services headquartered in Evansville, IN

July 1, 2011 – Lunda Construction Company, provider of various construction services such as the construction, rehabilitation, and maintenance of bridges, railroads, and other civil structures headquartered in Black River Falls, WI

July 1, 2011 – GreenStar Services Corporation, an electrical and mechanical services provider that is composed of 3 operating entities: Five Star Electric Corporation, WDF, and Nagelbush

March 17 2016 - After several smaller contracts at the Hudson Yards, Manhattan site, the company has been awarded contracts worth roughly $1.2 billion for the construction of Tower D and The Shops & Restaurants retail complex at the development.

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q3 2022 2022-11-01 Future report Set alerts
Q2 2022 2022-08-05 -0.28 -0.28
Q1 2022 2022-05-04 0.00 0.00
Q4 2021 2022-02-24 0.00 0.00
Q3 2021 2021-11-03 0.30 0.30
Q2 2021 2021-08-04 0.61 0.61
Q1 2021 2021-05-05 0.31 0.31
Q4 2020 2021-02-24 0.69 0.69
Q3 2020 2020-11-04 0.72 0.72
Q2 2020 2020-07-29 0.37 0.37

Ratings

2016-06-30 Reiterated Rating FBR & Co. Outperform $22.00 to $26.00
2016-06-30 Reiterated Rating FBR & Co Outperform $22.00 to $26.00
2016-06-29 Reiterated Rating Canaccord Genuity Buy $18.00
2016-06-29 Initiated Coverage MKM Partners Neutral $23.00
2016-05-24 Downgrade Standpoint Research Buy to Hold
2016-05-05 Boost Price Target FBR & Co. Outperform $18.00 to $22.00
2016-04-11 Initiated Coverage Canaccord Genuity Buy $18.00
2016-04-11 Initiated Coverage Standpoint Research Buy $22.00
2016-03-08 Boost Price Target FBR & Co. Outperform $17.00 to $18.00
2016-03-07 Reiterated Rating FBR & Co. Outperform $17.00 to $18.00
2016-01-27 Reiterated Rating FBR & Co. Outperform $17.00
2016-01-25 Upgrade Sidoti Neutral to Buy $14.00
2016-01-05 Initiated Coverage Sidoti Neutral
2015-12-09 Initiated Coverage Stifel Nicolaus Hold
2015-11-10 Lower Price Target DA Davidson Buy $30.00 to $28.00
2015-08-07 Lower Price Target DA Davidson Buy $36.00 to $30.00
2015-01-09 Initiated Coverage Macquarie Outperform $28.00
2014-12-18 Initiated Coverage Global Hunter Securities Accumulate $24.00
2014-12-18 Initiated Coverage Seaport Global Securities Accumulate $24.00
2014-06-25 Initiated Coverage Sidoti Buy
2014-05-08 Boost Price Target FBR & Co. Outperform $36.00 to $38.00
2014-05-08 Boost Price Target DA Davidson $36.00 to $40.00
2014-04-08 Initiated Coverage Stephens Overweight
2014-03-13 Reiterated UBS Buy $26 to $33
2014-03-05 Boost Price Target FBR & Co. $36.00
2013-02-22 Reiterated Imperial Capital Outperform $18 to $20
2012-08-07 Reiterated Imperial Capital Outperform $16 to $14
2012-06-22 Initiated Imperial Capital Outperform $16
2010-08-06 Reiterated Wunderlich Buy $28 to $32
2010-04-28 Initiated Wunderlich Buy $28
2010-03-25 Initiated Jefferies Buy $26
2016-06-30 Reiterated Rating FBR & Co. Outperform $22.00 to $26.00
2016-06-30 Reiterated Rating FBR & Co Outperform $22.00 to $26.00
2016-06-29 Reiterated Rating Canaccord Genuity Buy $18.00
2016-06-29 Initiated Coverage MKM Partners Neutral $23.00
2016-05-24 Downgrade Standpoint Research Buy to Hold

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks
Ronald N. Tutor Separate Property Trust 11.96%  (5811601) TPC /
TUTOR RONALD N Chairman & CEO 11.96%  (5811601) TPC /
Frost James A Executive Vice President 1.19%  (577276) TPC /
KLEIN MICHAEL R 0.87%  (423703) CSGP / TPC /
Sparks William Barney Executive VP, Treasurer 0.32%  (153803) TPC /
SHAW CRAIG W Executive Vice President 0.24%  (115368) TPC /
Miller Robert Lee 0.17%  (80753) TPC /
Caspers Mark Executive Vice President 0.16%  (80000) TPC /
BAND ROBERT President 0.14%  (70261) TPC /
ONEGLIA RAYMOND R 0.14%  (68447) TPC /
ARKLEY PETER 0.11%  (54357) TPC /
Tevrizian Dickran M. Jr. 0.11%  (51993) TPC /
Kershaw Michael J. Executive VP and CFO 0.08%  (39363) TPC /
SNYDER DONALD D 0.08%  (36567) TPC / WAL /
Lieber Robert C 0.07%  (33969) RSO / TPC /
Alexander Marilyn A 0.05%  (26703) DCT / TMK / TPC /
FELTENSTEIN SIDNEY J 0.05%  (25993) TPC /
REISS DALE ANN 0.04%  (20625) CCP / CYS / PPS / STAR / TPC /
SMALLEY GARY G. Executive VP and CFO 0.03%  (16348) FLR / TPC /
MELONE MARTIN R 0.03%  (15280) TPC /
Leppert Thomas C 0.01%  (7081) TPC /
Marano Ronald P. II Chief Accounting Officer 0.01%  (6242) TPC /
OKLAK DENNIS D 0.01%  (5725) DRE / TPC /
Meilicke Steven M VP & Corporate Controller 0.01%  (5276) TPC /