Tutor Perini (NYSE:TPC) Sets New 52-Week High - Here's Why

Tutor Perini Corporation (NYSE:TPC - Get Free Report) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $44.28 and last traded at $44.04, with a volume of 119875 shares changing hands. The stock had previously closed at $43.30.

Wall Street Analyst Weigh In

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

Tutor Perini Stock Performance

The firm has a fifty day simple moving average of $33.92 and a 200 day simple moving average of $27.43. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 1.33. The company has a market cap of $2.48 billion, a price-to-earnings ratio of -16.32 and a beta of 1.74.

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 business had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period in the previous year, the company posted $0.30 earnings per share. The firm's revenue for the quarter was up 18.8% on a year-over-year basis.

Insider Activity at Tutor Perini

In other news, Director Raymond R. Oneglia sold 75,000 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the director now owns 115,470 shares of the company's stock, valued at approximately $4,183,478.10. This trade represents a 39.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Ronald N. Tutor sold 130,478 shares of Tutor Perini stock in a transaction dated 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 transaction, the chairman now directly owns 4,570,985 shares of the company's stock, valued at $187,090,416.05. This represents a 2.78% decrease in their ownership of the stock. 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 quarter. 17.30% of the stock is owned by company 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 stock. Donald Smith & CO. Inc. lifted its holdings in Tutor Perini by 16.8% during the 1st quarter. Donald Smith & CO. Inc. now owns 4,031,220 shares of the construction company's stock worth $93,444,000 after buying an additional 580,963 shares in the last quarter. Boston Partners lifted its stake in shares of Tutor Perini by 1,801.4% during the fourth quarter. Boston Partners now owns 605,450 shares of the construction company's stock valued at $14,666,000 after acquiring an additional 573,608 shares during the period. Pacer Advisors Inc. bought a new position in Tutor Perini in the first quarter valued at about $13,122,000. Fred Alger Management LLC increased its position 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 worth $27,419,000 after purchasing an additional 542,647 shares during the period. Finally, First Trust Advisors LP increased its position in Tutor Perini by 74.6% in the fourth quarter. First Trust Advisors LP now owns 938,478 shares of the construction company's stock worth $22,711,000 after purchasing an additional 401,117 shares during the period. 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.