Tutor Perini (NYSE:TPC) Reaches New 1-Year High - Here's What Happened

Tutor Perini Corporation (NYSE:TPC - Get Free Report)'s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $47.76 and last traded at $46.79, with a volume of 836595 shares traded. The stock had previously closed at $46.85.

Analyst Ratings Changes

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

Tutor Perini Trading Up 1.5%

The business has a 50 day moving average of $37.10 and a 200-day moving average of $28.30. The stock has a market cap of $2.54 billion, a PE ratio of -16.73 and a beta of 1.79. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.33.

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

Insider Buying and Selling at Tutor Perini

In other news, Director Raymond R. Oneglia sold 25,000 shares of the business's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $36.14, for a total transaction of $903,500.00. Following the completion of the sale, the director owned 90,470 shares in the company, valued at approximately $3,269,585.80. The trade was a 21.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Ronald N. Tutor sold 130,478 shares of the firm's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $40.93, for a total transaction of $5,340,464.54. Following the completion of the transaction, the chairman owned 4,570,985 shares in the company, valued at $187,090,416.05. The trade was a 2.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 410,000 shares of company stock valued at $15,891,651 over the last three months. Corporate insiders own 17.30% of the company's stock.

Institutional Investors Weigh In On Tutor Perini

Large investors have recently made changes to their positions in the business. SG Americas Securities LLC purchased a new stake in shares of Tutor Perini during the 1st quarter valued at about $965,000. Ameriprise Financial Inc. raised its stake in shares of Tutor Perini by 8.8% during the fourth quarter. Ameriprise Financial Inc. now owns 211,843 shares of the construction company's stock valued at $5,127,000 after purchasing an additional 17,217 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Tutor Perini by 47.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 89,032 shares of the construction company's stock worth $2,155,000 after purchasing an additional 28,701 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Tutor Perini by 90.8% in the fourth quarter. Millennium Management LLC now owns 144,597 shares of the construction company's stock valued at $3,499,000 after purchasing an additional 68,807 shares during the period. Finally, GAMMA Investing LLC grew its holdings in Tutor Perini by 2,971.0% during the 1st quarter. GAMMA Investing LLC now owns 48,214 shares of the construction company's stock valued at $1,118,000 after purchasing an additional 46,644 shares in the last quarter. 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.