Tutor Perini (NYSE:TPC) Reaches New 12-Month High - Should You Buy?

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Wall Street Zen raised Tutor Perini from a "hold" rating to a "buy" rating in a research report on Thursday, May 8th. UBS Group upped their target price on shares of Tutor Perini from $40.00 to $41.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Finally, B. Riley reissued a "buy" rating and issued a $50.00 price target (up from $40.00) on shares of Tutor Perini in a report on Friday, June 6th.

Tutor Perini Stock Performance

The firm has a fifty day simple moving average of $34.98 and a 200 day simple moving average of $27.73. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.33. The stock has a market cap of $2.44 billion, a price-to-earnings ratio of -16.08 and a beta of 1.74.

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

Insiders Place Their Bets

In other Tutor Perini news, Director Raymond R. Oneglia sold 75,000 shares of the firm's stock in a transaction dated 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 owned 115,470 shares in the company, valued at $4,183,478.10. This trade represents a 39.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Ronald N. Tutor sold 130,478 shares of Tutor Perini stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $40.93, for a total value of $5,340,464.54. Following the sale, the chairman directly owned 4,570,985 shares in the company, valued at $187,090,416.05. The trade was a 2.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 410,000 shares of company stock valued at $15,891,651. Corporate insiders own 17.30% of the company's stock.

Hedge Funds Weigh In On Tutor Perini

A number of hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC boosted its stake in Tutor Perini by 32.5% in the 1st quarter. GAMMA Investing LLC now owns 2,080 shares of the construction company's stock valued at $48,000 after buying an additional 510 shares in the last quarter. New Age Alpha Advisors LLC acquired a new position in shares of Tutor Perini in the 1st quarter worth approximately $54,000. Comerica Bank boosted its stake in Tutor Perini by 30.7% in the first quarter. Comerica Bank now owns 2,423 shares of the construction company's stock worth $56,000 after purchasing an additional 569 shares in the last quarter. CWM LLC lifted its position in Tutor Perini by 32.8% during the 1st quarter. CWM LLC now owns 3,442 shares of the construction company's stock worth $80,000 after buying an additional 850 shares in the last quarter. Finally, AlphaQuest LLC grew its stake in shares of Tutor Perini by 849.2% during the first quarter. AlphaQuest LLC now owns 3,436 shares of the construction company's stock valued at $80,000 after purchasing an additional 3,074 shares during the last quarter. 65.01% of the stock is owned by institutional investors and hedge funds.

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.