Tutor Perini (NYSE:TPC) Hits New 52-Week High – Should You Buy?

Shares of Tutor Perini Corporation (NYSE:TPC) reached a new 52-week high on Monday . The company traded as high as $86.17 and last traded at $86.2330, with a volume of 227574 shares. The stock had previously closed at $83.48.

Wall Street Analyst Weigh In

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

Tutor Perini Price Performance

The company has a 50 day simple moving average of $72.15 and a 200 day simple moving average of $64.91. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $4.43 billion, a price-to-earnings ratio of -158.54 and a beta of 2.20.

Tutor Perini Announces Dividend

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

Insider Buying and Selling

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

Institutional Investors Weigh In On Tutor Perini

Institutional investors and hedge funds have recently bought and sold shares of the business. Quarry LP boosted its position in Tutor Perini by 74.7% during the 3rd quarter. Quarry LP now owns 428 shares of the construction company’s stock valued at $28,000 after purchasing an additional 183 shares during the period. Smartleaf Asset Management LLC increased its holdings in shares of Tutor Perini by 968.2% in the 3rd quarter. Smartleaf Asset Management LLC now owns 470 shares of the construction company’s stock worth $31,000 after acquiring an additional 426 shares during the period. EverSource Wealth Advisors LLC lifted its position in Tutor Perini by 54.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 536 shares of the construction company’s stock valued at $36,000 after purchasing an additional 188 shares during the last quarter. Allworth Financial LP boosted its stake in Tutor Perini by 71.4% during the 4th quarter. Allworth Financial LP now owns 605 shares of the construction company’s stock valued at $41,000 after purchasing an additional 252 shares during the period. Finally, Farther Finance Advisors LLC grew its position in Tutor Perini by 2,085.3% in the 4th quarter. Farther Finance Advisors LLC now owns 743 shares of the construction company’s stock worth $50,000 after purchasing an additional 709 shares during the last quarter. Institutional investors and hedge funds own 65.01% of the company’s stock.

Tutor Perini Company Profile

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.