Tutor Perini (NYSE:TPC) Reaches New 12-Month High Following Analyst Upgrade

Tutor Perini Co. (NYSE:TPC) reached a new 52-week high during mid-day trading on Monday after UBS Group raised their price target on the stock from $40.00 to $41.00. UBS Group currently has a buy rating on the stock. Tutor Perini traded as high as $34.97 and last traded at $33.48, with a volume of 589 shares. The stock had previously closed at $32.71.

TPC has been the topic of several other research reports. B. Riley upgraded Tutor Perini to a “strong-buy” rating in a report on Tuesday, March 18th. StockNews.com upgraded Tutor Perini from a “hold” rating to a “buy” rating in a report on Thursday, May 8th.

Hedge Funds Weigh In On Tutor Perini

Large investors have recently made changes to their positions in the business. Donald Smith & CO. Inc. grew its stake in shares of 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 buying an additional 580,963 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Tutor Perini by 4.8% in the 1st quarter. Vanguard Group Inc. now owns 2,829,370 shares of the construction company’s stock valued at $65,585,000 after buying an additional 130,747 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Tutor Perini by 6.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,825,350 shares of the construction company’s stock valued at $68,373,000 after buying an additional 170,440 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Tutor Perini by 5.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,726,545 shares of the construction company’s stock valued at $65,982,000 after buying an additional 148,425 shares in the last quarter. Finally, Fred Alger Management LLC grew its stake in shares of 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 buying an additional 542,647 shares in the last quarter. Institutional investors and hedge funds own 65.01% of the company’s stock.

Tutor Perini Stock Up 2.2%

The stock has a market cap of $1.89 billion, a P/E ratio of -14.28 and a beta of 1.62. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.53. The business has a 50-day simple moving average of $23.48 and a 200-day simple moving average of $24.89.

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

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.