UBS Group Boosts Tutor Perini (NYSE:TPC) Price Target to $59.00

Tutor Perini (NYSE:TPC - Free Report) had its price objective upped by UBS Group from $41.00 to $59.00 in a report issued on Thursday morning,Benzinga reports. They currently have a buy rating on the construction company's stock.

A number of other research firms have also recently commented on TPC. Wall Street Zen raised Tutor Perini from a "hold" rating to a "buy" rating in a report on Thursday, May 8th. 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

Shares of Tutor Perini stock traded up $0.84 during trading hours on Thursday, reaching $48.90. 585,838 shares of the stock traded hands, compared to its average volume of 567,821. Tutor Perini has a one year low of $14.50 and a one year high of $49.14. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $2.58 billion, a price-to-earnings ratio of -16.98 and a beta of 1.79. The company has a 50 day moving average price of $39.70 and a 200 day moving average price of $29.12.

Tutor Perini (NYSE:TPC - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The construction company reported $0.53 earnings per share for the quarter, beating 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 for the quarter, compared to analysts' expectations of $1.08 billion. During the same period in the previous year, the firm earned $0.30 EPS. The business's quarterly revenue was up 18.8% on a year-over-year basis.

Insider Activity at Tutor Perini

In related news, Director Raymond R. Oneglia sold 25,000 shares of the stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $36.14, for a total transaction of $903,500.00. Following the sale, the director owned 90,470 shares in the company, valued at approximately $3,269,585.80. This represents a 21.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Ronald N. Tutor sold 130,478 shares of the stock in a transaction 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 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 worth $15,891,651 over the last ninety days. Insiders own 17.30% of the company's stock.

Hedge Funds Weigh In On Tutor Perini

Several hedge funds have recently bought and sold shares of TPC. Donald Smith & CO. Inc. grew its position 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 valued at $93,444,000 after acquiring an additional 580,963 shares during the last quarter. Boston Partners grew its position in Tutor Perini by 1,801.4% in the 4th 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 last quarter. Pacer Advisors Inc. bought a new position in Tutor Perini in the 1st quarter valued at $13,122,000. Fred Alger Management LLC grew its position 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 valued at $27,419,000 after acquiring an additional 542,647 shares during the last quarter. Finally, Amanah Holdings Trust bought a new position in shares of Tutor Perini during the 2nd quarter worth $19,163,000. Institutional investors own 65.01% of the company's stock.

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.