Tutor Perini (NYSE:TPC) Reaches New 1-Year High - Should You Buy?

Tutor Perini Co. (NYSE:TPC - Get Free Report)'s stock price hit a new 52-week high on Tuesday . The stock traded as high as $37.17 and last traded at $37.05, with a volume of 150222 shares. The stock had previously closed at $35.82.

Wall Street Analyst Weigh In

TPC has been the subject of several research reports. Wall Street Zen upgraded shares of Tutor Perini from a "hold" rating to a "buy" rating in a research report on Thursday, May 8th. UBS Group raised their price target on shares of Tutor Perini from $40.00 to $41.00 and gave the company a "buy" rating in a report on Friday, May 9th. Finally, B. Riley upgraded shares of Tutor Perini to a "strong-buy" rating in a research note on Tuesday, March 18th.

Tutor Perini Stock Down 0.6%

The business has a fifty day moving average price of $26.44 and a two-hundred day moving average price of $25.63. The company has a market cap of $1.95 billion, a price-to-earnings ratio of -14.72 and a beta of 1.62. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.53.

Tutor Perini (NYSE:TPC - Get Free Report) last issued its earnings results on Wednesday, May 7th. The construction company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.06 by $0.47. The firm had revenue of $1.25 billion during the quarter, compared to analysts' expectations of $1.08 billion. Tutor Perini had a negative return on equity of 9.56% and a negative net margin of 3.08%. Tutor Perini's quarterly revenue was up 18.8% compared to the same quarter last year. During the same period last year, the business earned $0.30 earnings per share.

Insider Buying and Selling

In other Tutor Perini news, Director Raymond R. Oneglia sold 75,000 shares of the stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $36.23, for a total value of $2,717,250.00. Following the completion of the transaction, the director now directly owns 115,470 shares in the company, valued at approximately $4,183,478.10. This trade represents a 39.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 17.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Tutor Perini

Hedge funds have recently made changes to their positions in the stock. Donald Smith & CO. Inc. grew its holdings in shares of Tutor Perini by 16.8% during the 1st quarter. Donald Smith & CO. Inc. now owns 4,031,220 shares of the construction company's stock worth $93,444,000 after acquiring an additional 580,963 shares during the period. Boston Partners raised its stake in shares of Tutor Perini by 1,801.4% during the fourth quarter. Boston Partners now owns 605,450 shares of the construction company's stock valued at $14,666,000 after acquiring an additional 573,608 shares in the last quarter. Pacer Advisors Inc. bought a new position in Tutor Perini in the first quarter worth approximately $13,122,000. Fred Alger Management LLC raised its position in shares of Tutor Perini by 91.9% in the 4th quarter. Fred Alger Management LLC now owns 1,133,014 shares of the construction company's stock valued at $27,419,000 after purchasing an additional 542,647 shares during the last quarter. Finally, First Trust Advisors LP boosted its holdings in Tutor Perini by 74.6% in the fourth quarter. First Trust Advisors LP now owns 938,478 shares of the construction company's stock valued at $22,711,000 after purchasing an additional 401,117 shares during the last quarter. 65.01% of the stock is currently owned by hedge funds and other institutional investors.

About Tutor Perini

Tutor Perini Corporation, a construction company, provides diversified general contracting, construction management, and design-build services to private customers and public agencies in the United States and internationally. It operates through three segments: Civil, Building, and Specialty Contractors.