Tutor Perini (NYSE:TPC) Sets New 1-Year High - Here's Why

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on TPC shares. B. Riley reissued a "buy" rating and set a $50.00 price target (up previously from $40.00) on shares of Tutor Perini in a research report on Friday, June 6th. UBS Group increased their target price on Tutor Perini from $40.00 to $41.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Finally, Wall Street Zen upgraded shares of Tutor Perini from a "hold" rating to a "buy" rating in a report on Thursday, May 8th.

Tutor Perini Trading Up 3.2%

The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.53. The firm's 50 day simple moving average is $28.65 and its two-hundred day simple moving average is $26.14. The stock has a market capitalization of $2.20 billion, a P/E ratio of -16.62 and a beta of 1.74.

Tutor Perini (NYSE:TPC - Get Free Report) last posted 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. Tutor Perini had a negative net margin of 3.08% and a negative return on equity of 9.56%. The firm had revenue of $1.25 billion for the quarter, compared to analysts' expectations of $1.08 billion. During the same quarter last year, the firm earned $0.30 EPS. The company's quarterly revenue was up 18.8% compared to the same quarter last year.

Insider Activity at Tutor Perini

In other Tutor Perini news, Director Raymond R. Oneglia sold 25,000 shares of the company's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $36.14, for a total transaction of $903,500.00. Following the transaction, the director now owns 90,470 shares in the company, valued at approximately $3,269,585.80. This represents a 21.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Ronald N. Tutor sold 100,000 shares of the business's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $38.62, for a total value of $3,862,000.00. Following the completion of the transaction, the chairman now owns 4,730,985 shares of the company's stock, valued at $182,710,640.70. This represents a 2.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 250,000 shares of company stock valued at $9,355,250 over the last three months. 17.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tutor Perini

Hedge funds have recently made changes to their positions in the business. Invst LLC purchased a new stake in shares of Tutor Perini in the first quarter valued at $766,000. Strs Ohio purchased a new stake in Tutor Perini in the first quarter valued at about $596,000. Empowered Funds LLC lifted its stake in shares of Tutor Perini by 2.1% during the first quarter. Empowered Funds LLC now owns 288,066 shares of the construction company's stock worth $6,677,000 after buying an additional 5,819 shares during the period. Aristeia Capital L.L.C. boosted its position in Tutor Perini by 4.6% in the first quarter. Aristeia Capital L.L.C. now owns 11,957 shares of the construction company's stock valued at $277,000 after buying an additional 530 shares during the last quarter. Finally, Voleon Capital Management LP acquired a new stake in Tutor Perini during the 1st quarter worth about $385,000. 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.