Tutor Perini (NYSE:TPC) Hits New 1-Year High on Analyst Upgrade

Tutor Perini Corporation (NYSE:TPC - Get Free Report)'s share price reached a new 52-week high on Friday after UBS Group raised their price target on the stock from $41.00 to $59.00. UBS Group currently has a buy rating on the stock. Tutor Perini traded as high as $49.07 and last traded at $49.05, with a volume of 229747 shares changing hands. The stock had previously closed at $48.06.

A number of other research analysts have also issued reports on the stock. Wall Street Zen upgraded shares of Tutor Perini from a "hold" rating to a "buy" rating in a report on Thursday, May 8th. B. Riley restated a "buy" rating and set a $50.00 price target (up previously from $40.00) on shares of Tutor Perini in a report on Friday, June 6th.

Insider Buying and Selling at Tutor Perini

In other Tutor Perini news, Director Raymond R. Oneglia sold 75,000 shares of the stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $36.23, for a total transaction of $2,717,250.00. Following the transaction, the director owned 115,470 shares in the company, valued at approximately $4,183,478.10. This represents a 39.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Ronald N. Tutor sold 130,478 shares of the stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $40.93, for a total value of $5,340,464.54. Following the completion of the transaction, the chairman owned 4,570,985 shares of the company's stock, valued at $187,090,416.05. The trade was a 2.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 410,000 shares of company stock valued at $15,891,651. Corporate insiders own 17.30% of the company's stock.

Institutional Investors Weigh In On Tutor Perini

Institutional investors have recently modified their holdings of the company. Donald Smith & CO. Inc. lifted its position in shares of Tutor Perini by 16.8% during the first quarter. Donald Smith & CO. Inc. now owns 4,031,220 shares of the construction company's stock worth $93,444,000 after purchasing an additional 580,963 shares during the last quarter. Boston Partners lifted its holdings in Tutor Perini by 1,801.4% in the fourth quarter. Boston Partners now owns 605,450 shares of the construction company's stock worth $14,666,000 after acquiring an additional 573,608 shares during the last quarter. Pacer Advisors Inc. bought a new position in Tutor Perini in the first quarter worth about $13,122,000. Fred Alger Management LLC lifted its holdings in Tutor Perini by 91.9% in the fourth quarter. Fred Alger Management LLC now owns 1,133,014 shares of the construction company's stock worth $27,419,000 after acquiring an additional 542,647 shares during the last quarter. Finally, Amanah Holdings Trust bought a new position in Tutor Perini in the second quarter worth about $19,163,000. Hedge funds and other institutional investors own 65.01% of the company's stock.

Tutor Perini Stock Performance

The stock has a fifty day moving average price of $39.18 and a two-hundred day moving average price of $28.92. The company has a market cap of $2.58 billion, a P/E ratio of -16.97 and a beta of 1.79. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 1.33.

Tutor Perini (NYSE:TPC - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The construction company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.47. Tutor Perini had a negative net margin of 3.35% and a negative return on equity of 11.64%. The firm had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the previous year, the business posted $0.30 earnings per share. The firm's quarterly revenue was up 18.8% compared to the same quarter last year.

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.

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