Tutor Perini (NYSE:TPC) Sets New 12-Month High - What's Next?

Shares of Tutor Perini Co. (NYSE:TPC - Get Free Report) hit a new 52-week high on Monday . The stock traded as high as $37.76 and last traded at $18.83, with a volume of 167510 shares changing hands. The stock had previously closed at $36.88.

Analysts Set New Price Targets

TPC has been the subject of several recent analyst 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 stock a "buy" rating in a report on Friday, May 9th. Finally, B. Riley raised shares of Tutor Perini to a "strong-buy" rating in a research report on Tuesday, March 18th.

Tutor Perini Stock Performance

The firm's fifty day moving average is $27.28 and its 200-day moving average is $25.85. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $2.05 billion, a PE ratio of -15.47 and a beta of 1.62.

Tutor Perini (NYSE:TPC - Get Free Report) last released its earnings results on Wednesday, May 7th. The construction company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.47. The company had revenue of $1.25 billion during 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%. Tutor Perini's revenue was up 18.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.30 EPS.

Insider Buying and Selling at Tutor Perini

In other Tutor Perini news, Chairman Ronald N. Tutor sold 50,000 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $37.45, for a total transaction of $1,872,500.00. Following the sale, the chairman now owns 1,011,477 shares of the company's stock, valued at approximately $37,879,813.65. This trade represents a 4.71% 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. Also, Director Raymond R. Oneglia sold 75,000 shares of the company's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $36.23, for a total transaction of $2,717,250.00. Following the completion of the transaction, the director now owns 115,470 shares of the company's stock, valued at approximately $4,183,478.10. The trade was a 39.38% decrease in their position. The disclosure for this sale can be found here. Insiders sold 250,000 shares of company stock valued at $9,355,250 in the last 90 days. Company insiders own 17.30% of the company's stock.

Hedge Funds Weigh In On Tutor Perini

Large investors have recently bought and sold shares of the stock. Barclays PLC boosted its stake in Tutor Perini by 298.0% during the 3rd quarter. Barclays PLC now owns 69,875 shares of the construction company's stock worth $1,898,000 after purchasing an additional 52,319 shares during the period. Ameriprise Financial Inc. grew its position in Tutor Perini by 8.8% in the 4th quarter. Ameriprise Financial Inc. now owns 211,843 shares of the construction company's stock valued at $5,127,000 after buying an additional 17,217 shares during the last quarter. Deutsche Bank AG increased its stake in Tutor Perini by 34.2% in the 4th quarter. Deutsche Bank AG now owns 48,285 shares of the construction company's stock valued at $1,168,000 after buying an additional 12,296 shares during the period. Franklin Resources Inc. raised its position in Tutor Perini by 10.4% during the 4th quarter. Franklin Resources Inc. now owns 88,216 shares of the construction company's stock worth $2,135,000 after buying an additional 8,309 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in shares of Tutor Perini by 90.8% in the 4th quarter. Millennium Management LLC now owns 144,597 shares of the construction company's stock worth $3,499,000 after acquiring an additional 68,807 shares during the period. Institutional investors and hedge funds own 65.01% of the company's stock.

Tutor Perini Company Profile

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.