Tutor Perini (NYSE:TPC) Hits New 52-Week High - Should You Buy?

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

Wall Street Analysts Forecast Growth

TPC has been the topic of a number of recent 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 report on Friday, May 9th. B. Riley reaffirmed a "buy" rating and set a $50.00 target price (up previously from $40.00) on shares of Tutor Perini in a research note on Friday. Finally, Wall Street Zen raised shares of Tutor Perini from a "hold" rating to a "buy" rating in a research note on Thursday, May 8th.

Tutor Perini Price Performance

The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.55 and a current ratio of 1.55. The stock has a market capitalization of $2.14 billion, a price-to-earnings ratio of -16.15 and a beta of 1.62. The company has a 50 day moving average of $27.59 and a 200 day moving average of $25.91.

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, topping analysts' consensus estimates 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 analyst estimates of $1.08 billion. During the same period in the prior year, the firm earned $0.30 earnings per share. The business's quarterly revenue was up 18.8% compared to the same quarter last year.

Insider Transactions at Tutor Perini

In other news, Chairman Ronald N. Tutor sold 100,000 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $38.62, for a total transaction of $3,862,000.00. Following the completion of the sale, the chairman now owns 4,730,985 shares in the company, valued at approximately $182,710,640.70. The trade was a 2.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Raymond R. Oneglia sold 75,000 shares of Tutor Perini stock in a transaction 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 sale, the director now owns 115,470 shares in the company, valued at $4,183,478.10. This represents a 39.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 250,000 shares of company stock valued at $9,355,250. Insiders own 17.30% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Donald Smith & CO. Inc. lifted its stake in Tutor Perini by 16.8% in the first quarter. Donald Smith & CO. Inc. now owns 4,031,220 shares of the construction company's stock valued at $93,444,000 after buying an additional 580,963 shares during the last quarter. Vanguard Group Inc. raised its position in Tutor Perini by 4.8% in the 1st quarter. Vanguard Group Inc. now owns 2,829,370 shares of the construction company's stock valued at $65,585,000 after purchasing an additional 130,747 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Tutor Perini by 6.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,825,350 shares of the construction company's stock worth $68,373,000 after purchasing an additional 170,440 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Tutor Perini by 5.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,726,545 shares of the construction company's stock valued at $65,982,000 after purchasing an additional 148,425 shares during the period. Finally, Fred Alger Management LLC increased its stake 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 valued at $27,419,000 after purchasing an additional 542,647 shares during the period. 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.