Tutor Perini Co. (NYSE:TPC – Get Free Report) hit a new 52-week high during trading on Friday . The stock traded as high as $27.05 and last traded at $26.89, with a volume of 308627 shares traded. The stock had previously closed at $26.04.
Analysts Set New Price Targets
Separately, UBS Group upgraded shares of Tutor Perini from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $14.00 to $27.00 in a report on Friday, June 14th.
View Our Latest Analysis on Tutor Perini
Tutor Perini Stock Performance
Tutor Perini (NYSE:TPC – Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The construction company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.15). The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.14 billion. Tutor Perini had a negative return on equity of 4.49% and a negative net margin of 1.59%. The firm’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same period last year, the firm earned ($0.72) earnings per share. On average, research analysts anticipate that Tutor Perini Co. will post 1.12 earnings per share for the current year.
Institutional Trading of Tutor Perini
Hedge funds and other institutional investors have recently modified their holdings of the stock. Hennessy Advisors Inc. acquired a new stake in Tutor Perini in the 2nd quarter worth about $12,362,000. American Century Companies Inc. raised its holdings in Tutor Perini by 59.9% in the 2nd quarter. American Century Companies Inc. now owns 759,665 shares of the construction company’s stock valued at $16,546,000 after acquiring an additional 284,627 shares in the last quarter. Acadian Asset Management LLC raised its holdings in Tutor Perini by 84.4% in the 2nd quarter. Acadian Asset Management LLC now owns 539,336 shares of the construction company’s stock valued at $11,742,000 after acquiring an additional 246,901 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Tutor Perini by 9.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,399,544 shares of the construction company’s stock worth $52,263,000 after purchasing an additional 198,348 shares in the last quarter. Finally, Algert Global LLC bought a new position in shares of Tutor Perini in the second quarter worth $4,138,000. Institutional investors own 65.01% of the company’s stock.
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.
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