Ya.
It gets modded from the hunting rifle. You have to have the Gun Nut perk maxed out to have access to that .50 receiver though. You'll sometimes find them as weapon drops, but typically not until you're at a fairly high level.
I found one on a .50 Hunting Rifle in the low 30's level-wise. I stripped off the part and put it on the first of my Instigating Hunting Rifles I had found, converting it from a .308 to a .50. With the Instigating Legendary, it packs a huge punch on the first shot.
Note that if you find a Suppressed .308 you don't seem to be able to put the Suppressor on the .50 for some reason so at the moment I have a Legendary .308 with Suppressor and a .50 without.
there's a relatively easy one you can get
Just walk west from sanctuary until you get to the water there's a place call "Rook Familly House". Kill the mirelurks around the house and talk to the guy, he'll have you do a quick task and reward you with Reba II which is a nicely modded .50 caliber rifle (pretty much maxed in mods).
Yeah, sorry. East. I went there fairly early (probably low teens) and was able to complete the quest. I was sent to the settlement near there by Preston and then just wandered a bit more east and found it.