Tutor Perini (NYSE:TPC) Hits New 52-Week High – What’s Next?

Tutor Perini Corporation (NYSE:TPC) shares hit a new 52-week high on Tuesday . The stock traded as high as $82.50 and last traded at $80.41, with a volume of 29132 shares changing hands. The stock had previously closed at $80.11.

Analyst Upgrades and Downgrades

Several brokerages recently commented on TPC. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tutor Perini in a research note on Wednesday, January 21st. Wall Street Zen lowered shares of Tutor Perini from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 22nd. B. Riley reiterated a “buy” rating on shares of Tutor Perini in a research report on Thursday, November 6th. Finally, UBS Group boosted their target price on Tutor Perini from $67.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $80.50.

Tutor Perini Price Performance

The stock has a market capitalization of $4.23 billion, a PE ratio of -151.25 and a beta of 2.21. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.30 and a quick ratio of 1.30. The firm’s 50 day simple moving average is $71.61 and its 200 day simple moving average is $64.34.

Tutor Perini (NYSE:TPC) last released its earnings results on Wednesday, November 5th. The construction company reported $1.15 EPS for the quarter, beating the consensus estimate of $0.96 by $0.19. Tutor Perini had a negative net margin of 0.55% and a positive return on equity of 7.07%. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same quarter last year, the firm earned ($1.92) EPS. The firm’s quarterly revenue was up 30.7% compared to the same quarter last year.

Tutor Perini Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 23rd. Investors of record on Tuesday, December 9th were issued a dividend of $0.06 per share. The ex-dividend date was Tuesday, December 9th. This represents a $0.24 annualized dividend and a yield of 0.3%. Tutor Perini’s dividend payout ratio is currently -45.28%.

Insider Activity at Tutor Perini

In related news, CEO Gary G. Smalley purchased 5,000 shares of the firm’s stock in a transaction on Wednesday, November 19th. The shares were acquired at an average cost of $61.08 per share, with a total value of $305,400.00. Following the purchase, the chief executive officer directly owned 118,075 shares of the company’s stock, valued at approximately $7,212,021. This trade represents a 4.42% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Peter Arkley acquired 24,853 shares of the company’s stock in a transaction dated Monday, November 24th. The shares were bought at an average cost of $63.96 per share, with a total value of $1,589,597.88. Following the purchase, the director owned 176,570 shares of the company’s stock, valued at approximately $11,293,417.20. This trade represents a 16.38% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have purchased 45,000 shares of company stock worth $2,870,313. 17.30% of the stock is owned by corporate insiders.

Institutional Trading of Tutor Perini

Several large investors have recently added to or reduced their stakes in TPC. Vanguard Group Inc. boosted its position in Tutor Perini by 3.0% during the 4th quarter. Vanguard Group Inc. now owns 3,009,860 shares of the construction company’s stock valued at $201,721,000 after acquiring an additional 86,874 shares in the last quarter. First Trust Advisors LP increased its stake in shares of Tutor Perini by 17.1% during the third quarter. First Trust Advisors LP now owns 1,350,383 shares of the construction company’s stock valued at $88,572,000 after purchasing an additional 197,169 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Tutor Perini by 19.2% during the third quarter. American Century Companies Inc. now owns 1,179,380 shares of the construction company’s stock valued at $77,356,000 after purchasing an additional 189,768 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Tutor Perini by 1.0% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,087,666 shares of the construction company’s stock worth $71,340,000 after purchasing an additional 10,898 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Tutor Perini by 2.2% in the 2nd quarter. Geode Capital Management LLC now owns 1,049,338 shares of the construction company’s stock worth $49,094,000 after buying an additional 22,210 shares during the last quarter. Institutional investors own 65.01% of the company’s stock.

About Tutor Perini

Tutor Perini Corporation is a leading U.S. construction company that provides diversified general contracting, construction management and design-build services to private clients and public agencies. The company operates through three principal market segments—Civil, Building and Specialty Contractors—serving a broad range of infrastructure and vertical construction needs.

In its Civil segment, Tutor Perini delivers heavy civil infrastructure projects including highways and bridges, water management, dams, tunnels and rail systems.