What Happened?
Shares of general contracting company Tutor Perini (NYSE: TPC) jumped 2.9% in the afternoon session after the company announced two significant contract awards through its subsidiary, Rudolph and Sletten, bolstering its project backlog.
The first contract, valued at approximately $155 million, was for the construction of the Diego Rivera Performing Arts Center at the City College of San Francisco. The second award was a $108 million contract from UC Davis Health to expand the Central Utility Plant at its Sacramento campus.
These wins reinforced the company's strong track record in securing high-value projects and added to its already growing backlog, which reached a new high of $21.6 billion at the end of the third quarter of 2025. The new projects supported the company's long-term revenue visibility.
After the initial pop the shares cooled down to $69.49, up 2.9% from previous close.
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What Is The Market Telling Us
Tutor Perini’s shares are very volatile and have had 21 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
Tutor Perini is up 188% since the beginning of the year, and at $69.49 per share, it is trading close to its 52-week high of $70.46 from December 2025. Investors who bought $1,000 worth of Tutor Perini’s shares 5 years ago would now be looking at an investment worth $5,186.
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