Tutor Perini (NYSE:TPC) Hits New 12-Month High – Still a Buy?

Tutor Perini Co. (NYSE:TPC) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $37.17 and last traded at $37.05, with a volume of 150222 shares changing hands. The stock had previously closed at $35.82.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on TPC shares. Wall Street Zen upgraded Tutor Perini from a “hold” rating to a “buy” rating in a research report on Thursday, May 8th. UBS Group increased their price objective on Tutor Perini from $40.00 to $41.00 and gave the company a “buy” rating in a research report on Friday, May 9th. Finally, B. Riley upgraded Tutor Perini to a “strong-buy” rating in a research report on Tuesday, March 18th.

Tutor Perini Stock Performance

The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.55 and a current ratio of 1.55. The company has a market cap of $1.95 billion, a PE ratio of -14.71 and a beta of 1.62. The business’s 50-day moving average is $25.50 and its 200 day moving average is $25.37.

Tutor Perini (NYSE:TPC) last released its quarterly earnings data on Wednesday, May 7th. The construction company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.06 by $0.47. Tutor Perini had a negative return on equity of 9.56% and a negative net margin of 3.08%. The firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the previous year, the business earned $0.30 earnings per share. The company’s quarterly revenue was up 18.8% on a year-over-year basis.

Insiders Place Their Bets

In other Tutor Perini news, Director Raymond R. Oneglia sold 75,000 shares of the 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 completion of the sale, the director now owns 115,470 shares of the company’s stock, valued at $4,183,478.10. This represents a 39.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 17.30% of the company’s stock.

Hedge Funds Weigh In On Tutor Perini

Several hedge funds and other institutional investors have recently modified their holdings of the company. Donald Smith & CO. Inc. grew its stake in shares of Tutor Perini by 16.8% in the first quarter. Donald Smith & CO. Inc. now owns 4,031,220 shares of the construction company’s stock worth $93,444,000 after purchasing an additional 580,963 shares during the last quarter. Boston Partners lifted its holdings in Tutor Perini by 1,801.4% in the 4th quarter. Boston Partners now owns 605,450 shares of the construction company’s stock worth $14,666,000 after buying an additional 573,608 shares during the period. Pacer Advisors Inc. bought a new stake in shares of Tutor Perini in the 1st quarter worth approximately $13,122,000. Fred Alger Management LLC increased its stake in shares of Tutor Perini by 91.9% during the fourth quarter. Fred Alger Management LLC now owns 1,133,014 shares of the construction company’s stock valued at $27,419,000 after buying an additional 542,647 shares during the period. Finally, First Trust Advisors LP raised its holdings in shares of Tutor Perini by 74.6% during the fourth quarter. First Trust Advisors LP now owns 938,478 shares of the construction company’s stock valued at $22,711,000 after acquiring an additional 401,117 shares in the last quarter. 65.01% of the stock is owned by institutional investors.

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.