Tutor Perini (NYSE:TPC) Reaches New 52-Week High at $23.31

Tutor Perini Co. (NYSE:TPC) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $23.31 and last traded at $23.30, with a volume of 385274 shares. The stock had previously closed at $21.85.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. UBS Group upgraded shares of Tutor Perini from a “neutral” rating to a “buy” rating and upped their price target for the company from $14.00 to $27.00 in a research note on Friday, June 14th. StockNews.com raised Tutor Perini from a “hold” rating to a “buy” rating in a research report on Friday, April 26th.

Tutor Perini Stock Performance

The company has a debt-to-equity ratio of 0.60, a current ratio of 1.70 and a quick ratio of 1.70. The stock’s 50-day moving average price is $20.64 and its 200-day moving average price is $14.56. The company has a market cap of $1.23 billion, a P/E ratio of -11.47 and a beta of 1.55.

Tutor Perini (NYSE:TPC) last posted its quarterly earnings data on Thursday, April 25th. The construction company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.48. Tutor Perini had a negative net margin of 2.56% and a negative return on equity of 8.03%. The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $919.60 million. Equities analysts anticipate that Tutor Perini Co. will post 1.1 EPS for the current year.

Insider Buying and Selling

In related news, EVP Ghassan Ariqat sold 11,855 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $19.62, for a total value of $232,595.10. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, EVP Ghassan Ariqat sold 11,855 shares of Tutor Perini stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $19.62, for a total value of $232,595.10. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Ronald N. Tutor sold 25,000 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $19.40, for a total value of $485,000.00. Following the sale, the chief executive officer now owns 2,387,267 shares of the company’s stock, valued at $46,312,979.80. The disclosure for this sale can be found here. Insiders have sold 243,728 shares of company stock valued at $4,870,217 over the last 90 days. 19.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. increased its holdings in Tutor Perini by 2.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,992,319 shares of the construction company’s stock worth $18,130,000 after purchasing an additional 53,927 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new stake in Tutor Perini during the 4th quarter worth approximately $6,467,000. Donald Smith & CO. Inc. grew its holdings in Tutor Perini by 20.4% during the 4th quarter. Donald Smith & CO. Inc. now owns 3,899,899 shares of the construction company’s stock worth $35,489,000 after acquiring an additional 659,657 shares during the last quarter. Los Angeles Capital Management LLC raised its stake in shares of Tutor Perini by 77.8% during the first quarter. Los Angeles Capital Management LLC now owns 151,727 shares of the construction company’s stock valued at $2,194,000 after acquiring an additional 66,408 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Tutor Perini by 262.2% during the first quarter. Assenagon Asset Management S.A. now owns 184,461 shares of the construction company’s stock worth $2,667,000 after purchasing an additional 133,534 shares during the period. Institutional investors 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.