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

Tutor Perini Co. (NYSE:TPC - Get Free Report)'s share price reached a new 52-week high during trading on Monday . The stock traded as high as $41.10 and last traded at $40.00, with a volume of 149809 shares changing hands. The stock had previously closed at $40.59.

Wall Street Analysts Forecast Growth

TPC has been the topic of several research analyst reports. UBS Group upped their price objective on Tutor Perini from $40.00 to $41.00 and gave the company a "buy" rating in a research note on Friday, May 9th. B. Riley reiterated a "buy" rating and issued a $50.00 price objective (up previously from $40.00) on shares of Tutor Perini in a research note on Friday, June 6th. Finally, Wall Street Zen upgraded Tutor Perini from a "hold" rating to a "buy" rating in a research note on Thursday, May 8th.

Tutor Perini Trading Up 2.1%

The stock has a market cap of $2.25 billion, a PE ratio of -17.00 and a beta of 1.74. The firm has a 50-day simple moving average of $29.53 and a 200-day simple moving average of $26.34. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.53.

Tutor Perini (NYSE:TPC - Get Free Report) last posted its 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. The firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.08 billion. Tutor Perini had a negative return on equity of 9.56% and a negative net margin of 3.08%. The business's quarterly revenue was up 18.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.30 earnings per share.

Insider Transactions at Tutor Perini

In related news, Chairman Ronald N. Tutor sold 130,478 shares of the stock in a transaction 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 sale, the chairman now owns 4,570,985 shares in the company, valued at approximately $187,090,416.05. This trade represents a 2.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Raymond R. Oneglia sold 25,000 shares of the firm's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $36.14, for a total value of $903,500.00. Following the sale, the director now owns 90,470 shares in the company, valued at $3,269,585.80. The trade was a 21.65% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 410,000 shares of company stock valued at $15,891,651. 17.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tutor Perini

A number of large investors have recently added to or reduced their stakes in TPC. Barclays PLC raised its position in Tutor Perini by 298.0% during the third quarter. Barclays PLC now owns 69,875 shares of the construction company's stock valued at $1,898,000 after purchasing an additional 52,319 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in Tutor Perini by 40,975.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 140,477 shares of the construction company's stock valued at $3,400,000 after purchasing an additional 140,135 shares in the last quarter. Commonwealth Equity Services LLC raised its position in Tutor Perini by 7.3% during the fourth quarter. Commonwealth Equity Services LLC now owns 10,291 shares of the construction company's stock valued at $249,000 after purchasing an additional 700 shares in the last quarter. Boston Partners raised its position in 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 purchasing an additional 573,608 shares in the last quarter. Finally, Quantbot Technologies LP raised its position in Tutor Perini by 79.3% during the fourth quarter. Quantbot Technologies LP now owns 36,938 shares of the construction company's stock valued at $894,000 after purchasing an additional 16,341 shares in the last quarter. Hedge funds and other institutional investors own 65.01% of the company's stock.

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.