News Summary
Tutor Perini Corporation’s subsidiary, Perini Management Services, Inc., has been awarded a $41.9 million contract by the National Park Service to upgrade wastewater systems at the Glen Canyon National Recreation Area in Arizona. The project will involve replacing septic systems, upgrading monitoring systems, and improving overall infrastructure. Construction is set to begin immediately and is expected to be completed by fall 2027, further strengthening Tutor Perini’s position in the infrastructure sector.
Tutor Perini Corporation Secures $41.9 Million Contract for Wastewater System Upgrade in Arizona
Tutor Perini Corporation’s subsidiary, Perini Management Services, Inc., has been awarded a significant contract valued at approximately $41.9 million by the National Park Service. This contract emphasizes comprehensive design and construction services aimed at maintaining and upgrading essential utility systems at the Glen Canyon National Recreation Area in Arizona.
Detailed Project Scope
The contract specifically targets the repair and replacement of wastewater systems in the Wahweap and Lone Rock areas. Notably, the project includes:
- Replacing the force main on the Glen Canyon Bridge.
- Upgrading and replacing septic systems, manholes, and lift stations.
- Repairing and lining existing sanitary sewage infrastructure with cured-in-place pipe.
- Updating the monitoring and control system for local locations while enhancing the park’s communication network.
- Installing backup generators to bolster system reliability.
Timeline and Compliance
Construction for the project is expected to initiate immediately, with a completion target set for fall 2027. The upgrades will adhere to the environmental standards established by the Arizona and Utah Departments of Environmental Quality. These new systems are designed to ensure long-term reliability and sustainability within the park’s utility operations.
Impact on Tutor Perini’s Position
This recent contract win is a boost for Tutor Perini, as it contributes to the company’s growing backlog of projects, reinforcing its standing in the government contracting and infrastructure sectors. The company’s backlog has reached $21.1 billion, showcasing an impressive 102% year-over-year increase.
Key projects in Tutor Perini’s backlog include major undertakings such as the Midtown Bus Terminal Replacement Phase 1 project in New York, valued at $1.87 billion, and a healthcare project in California worth $538 million, along with two civil works projects amounting to $127 million in the Midwest.
Financial Performance and Stock Outlook
Tutor Perini’s stock has demonstrated a remarkable surge, rising by 164% year to date. This performance significantly outpaces the construction industry average growth of 33.6%. Currently, Tutor Perini holds a Zacks Rank of #1 (Strong Buy), positioning it well among top-rated construction stocks.
Other top-ranked construction companies cited include Everus Construction Group, EMCOR Group, and Great Lakes Dredge & Dock, all of which also hold a Zacks #1 rating. Analyst recommendations for Tutor Perini indicate an average brokerage recommendation of 1.8, suggesting an “Outperform” status. Furthermore, financial estimates suggest a potential upside of 18.97% from the current trading price of $63.88.
Tutor Perini’s Market Position
Tutor Perini operates primarily within the civil contracting sector, specializing in public works and infrastructure projects across the United States. The company’s market capitalization currently stands at $3.37 billion, marking it as a key player in the construction industry. The recent contract reflects Tutor Perini’s commitment to investing in infrastructure, critical to maintaining operational efficiency in national parks and recreational areas.
As the project to enhance Glen Canyon National Recreation Area’s wastewater system progresses, it is expected to improve both environmental conditions and visitor experiences in one of Arizona’s most treasured recreational areas.
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Additional Resources
- Zacks Analyst Blog Highlights: Tutor Perini, Everus Construction, EMCOR Group, and Great Lakes Dredge & Dock
- GuruFocus: Tutor Perini Secures $41.9M Contract for Utility Upgrades in Arizona
- Construction Dive: Tutor Perini and Rudolph & Sletten Project
- GuruFocus: Tutor Perini Subsidiary Wins $419M National Park Service Contract
- Wikipedia: Utility Systems
- Google Search: Tutor Perini Corporation
Author: Construction CA News
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