Tutor Perini (NYSE:TPC) Sets New 1-Year High - Still a Buy?

Tutor Perini Co. (NYSE:TPC - Get Free Report)'s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $43.54 and last traded at $43.36, with a volume of 56452 shares changing hands. The stock had previously closed at $42.08.

Wall Street Analyst Weigh In

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

Tutor Perini Stock Performance

The stock's 50-day moving average price is $29.98 and its 200-day moving average price is $26.42. The company has a market cap of $2.26 billion, a P/E ratio of -17.11 and a beta of 1.74. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.55 and a quick ratio of 1.55.

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

Insider Activity

In other news, Director Raymond R. Oneglia sold 75,000 shares of Tutor Perini 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 transaction, the director now owns 115,470 shares in the company, valued at approximately $4,183,478.10. The trade was 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 accessible through the SEC website. Also, Chairman Ronald N. Tutor sold 130,478 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The stock was 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 now owns 4,570,985 shares in the company, valued at $187,090,416.05. This trade represents a 2.78% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 410,000 shares of company stock worth $15,891,651. Insiders own 17.30% of the company's stock.

Institutional Investors Weigh In On Tutor Perini

Hedge funds have recently added to or reduced their stakes in the business. Ameriprise Financial Inc. grew its position in shares of Tutor Perini by 8.8% during the 4th quarter. Ameriprise Financial Inc. now owns 211,843 shares of the construction company's stock worth $5,127,000 after buying an additional 17,217 shares during the period. Millennium Management LLC increased its stake in 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings 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 valued at $2,155,000 after purchasing an additional 28,701 shares during the period. Deutsche Bank AG grew its stake in shares of 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. Finally, Franklin Resources Inc. raised its stake 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 period. 65.01% of the stock is currently owned by institutional investors.

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.

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