UBS Group Issues Positive Forecast for Tutor Perini (NYSE:TPC) Stock Price

Tutor Perini (NYSE:TPC) had its target price raised by UBS Group from $41.00 to $59.00 in a research note issued to investors on Thursday,Benzinga reports. UBS Group currently has a buy rating on the construction company’s stock.

A number of other research analysts have also recently commented on the company. Wall Street Zen upgraded Tutor Perini from a “hold” rating to a “buy” rating in a research note on Thursday, May 8th. B. Riley restated a “buy” rating and set a $50.00 price objective (up previously from $40.00) on shares of Tutor Perini in a research note on Friday, June 6th.

Tutor Perini Price Performance

Shares of Tutor Perini stock opened at $48.05 on Thursday. Tutor Perini has a twelve month low of $14.50 and a twelve month high of $48.79. The stock has a market capitalization of $2.53 billion, a P/E ratio of -16.68 and a beta of 1.79. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.33. The business’s fifty day moving average price is $39.18 and its 200 day moving average price is $28.92.

Tutor Perini (NYSE:TPC) last issued its earnings results on Wednesday, May 7th. The construction company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.47. Tutor Perini had a negative return on equity of 11.64% and a negative net margin of 3.35%. The firm had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter last year, the firm earned $0.30 earnings per share. The firm’s revenue for the quarter was up 18.8% compared to the same quarter last year.

Insider Transactions at Tutor Perini

In other Tutor Perini news, Chairman Ronald N. Tutor sold 130,478 shares of the business’s stock in a transaction dated Wednesday, June 11th. The stock was 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 $187,090,416.05. The trade was a 2.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Raymond R. Oneglia sold 75,000 shares of Tutor Perini stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $36.23, for a total value of $2,717,250.00. Following the sale, the director directly owned 115,470 shares in the company, valued at approximately $4,183,478.10. The trade was a 39.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 410,000 shares of company stock worth $15,891,651. 17.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tutor Perini

A number of institutional investors have recently made changes to their positions in the business. Donald Smith & CO. Inc. grew its position in shares of Tutor Perini by 16.8% during the first quarter. Donald Smith & CO. Inc. now owns 4,031,220 shares of the construction company’s stock worth $93,444,000 after buying an additional 580,963 shares in the last quarter. Boston Partners grew its holdings in Tutor Perini by 1,801.4% during the 4th quarter. Boston Partners now owns 605,450 shares of the construction company’s stock worth $14,666,000 after acquiring an additional 573,608 shares in the last quarter. Pacer Advisors Inc. acquired a new position in Tutor Perini during the 1st quarter worth $13,122,000. Fred Alger Management LLC increased its position 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 worth $27,419,000 after purchasing an additional 542,647 shares during the last quarter. Finally, Amanah Holdings Trust acquired a new stake in shares of Tutor Perini in the 2nd quarter valued at about $19,163,000. 65.01% of the stock is owned by institutional investors and hedge funds.

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.