Tutor Perini (NYSE:TPC) Reaches New 52-Week High - What's Next?

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

Analyst Ratings Changes

A number of brokerages have weighed in on TPC. UBS Group boosted their target price on Tutor Perini from $40.00 to $41.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. B. Riley reissued a "buy" rating and issued a $50.00 target price (up previously from $40.00) on shares of Tutor Perini in a research report on Friday, June 6th. 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 Up 0.2%

The stock has a market cap of $2.21 billion, a PE ratio of -14.58 and a beta of 1.74. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.33 and a current ratio of 1.33. The company's 50-day moving average price is $31.66 and its 200 day moving average price is $26.84.

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

Insider Buying and Selling

In related news, Chairman Ronald N. Tutor sold 130,478 shares of the 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 completion of the sale, the chairman now directly owns 4,570,985 shares of the company's stock, valued at approximately $187,090,416.05. This represents a 2.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Raymond R. Oneglia sold 75,000 shares of the stock in a transaction that occurred 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 completion of the sale, the director now directly owns 115,470 shares of the company's stock, 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 ninety days, insiders sold 410,000 shares of company stock valued at $15,891,651. 17.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tutor Perini

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Donald Smith & CO. Inc. increased its holdings in Tutor Perini by 16.8% in the 1st quarter. Donald Smith & CO. Inc. now owns 4,031,220 shares of the construction company's stock worth $93,444,000 after acquiring an additional 580,963 shares in the last quarter. Vanguard Group Inc. boosted its stake 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 worth $65,585,000 after purchasing an additional 130,747 shares during the period. Dimensional Fund Advisors LP boosted its stake in Tutor Perini by 6.4% in 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. boosted its stake in Tutor Perini by 5.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,726,545 shares of the construction company's stock worth $65,982,000 after purchasing an additional 148,425 shares during the period. Finally, Fred Alger Management LLC boosted its stake in Tutor Perini by 91.9% in the 4th quarter. Fred Alger Management LLC now owns 1,133,014 shares of the construction company's stock worth $27,419,000 after purchasing an additional 542,647 shares during the period. 65.01% of the stock is owned by hedge funds and other 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.