Tutor Perini (NYSE:TPC) Sets New 1-Year High After Analyst Upgrade

Tutor Perini Corporation (NYSE:TPC) shares reached a new 52-week high on Friday after UBS Group raised their price target on the stock from $41.00 to $59.00. UBS Group currently has a buy rating on the stock. Tutor Perini traded as high as $49.07 and last traded at $49.05, with a volume of 229747 shares changing hands. The stock had previously closed at $48.06.

A number of other research firms have also recently weighed in on TPC. B. Riley reiterated a “buy” rating and issued a $50.00 target price (up from $40.00) on shares of Tutor Perini in a research note on Friday, June 6th. Wall Street Zen upgraded shares of Tutor Perini from a “hold” rating to a “buy” rating in a research note on Thursday, May 8th.

Insider Activity

In other Tutor Perini news, Director Raymond R. Oneglia sold 25,000 shares of the stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $36.14, for a total transaction of $903,500.00. Following the completion of the sale, the director directly owned 90,470 shares of the company’s stock, valued at approximately $3,269,585.80. This represents a 21.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Ronald N. Tutor sold 130,478 shares of the company’s stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $40.93, for a total transaction of $5,340,464.54. Following the transaction, the chairman owned 4,570,985 shares in the company, valued at approximately $187,090,416.05. This trade represents a 2.78% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 410,000 shares of company stock valued at $15,891,651. Insiders own 17.30% of the company’s stock.

Hedge Funds Weigh In On Tutor Perini

Several hedge funds have recently modified their holdings of TPC. GAMMA Investing LLC increased its holdings in shares of Tutor Perini by 32.5% during the first quarter. GAMMA Investing LLC now owns 2,080 shares of the construction company’s stock valued at $48,000 after acquiring an additional 510 shares in the last quarter. New Age Alpha Advisors LLC acquired a new stake in Tutor Perini during the 1st quarter valued at approximately $54,000. Comerica Bank lifted its stake in Tutor Perini by 30.7% during the 1st quarter. Comerica Bank now owns 2,423 shares of the construction company’s stock valued at $56,000 after acquiring an additional 569 shares during the period. CWM LLC lifted its stake in Tutor Perini by 32.8% during the 1st quarter. CWM LLC now owns 3,442 shares of the construction company’s stock valued at $80,000 after acquiring an additional 850 shares during the period. Finally, AlphaQuest LLC lifted its stake in Tutor Perini by 849.2% during the 1st quarter. AlphaQuest LLC now owns 3,436 shares of the construction company’s stock valued at $80,000 after acquiring an additional 3,074 shares during the period. Institutional investors and hedge funds own 65.01% of the company’s stock.

Tutor Perini Stock Performance

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 firm’s 50 day simple moving average is $39.70 and its 200 day simple moving average is $29.08. The firm has a market capitalization of $2.58 billion, a price-to-earnings ratio of -16.98 and a beta of 1.79.

Tutor Perini (NYSE:TPC) last announced its quarterly earnings data 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 business had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the previous year, the business posted $0.30 EPS. The business’s quarterly revenue was up 18.8% compared to the same quarter last year.

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.