Ronald N. Tutor Sells 130,478 Shares of Tutor Perini Co. (NYSE:TPC) Stock

Tutor Perini Co. (NYSE:TPC) Chairman Ronald N. Tutor sold 130,478 shares of the business’s stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $40.93, for a total transaction of $5,340,464.54. Following the completion of the transaction, the chairman now owns 4,570,985 shares of the company’s stock, 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 filing with the SEC, which is accessible through the SEC website.

Tutor Perini Price Performance

TPC stock opened at $42.68 on Friday. The stock has a market cap of $2.25 billion, a price-to-earnings ratio of -17.00 and a beta of 1.74. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.55 and a quick ratio of 1.55. The company has a 50 day simple moving average of $29.53 and a 200 day simple moving average of $26.34. Tutor Perini Co. has a 1 year low of $14.50 and a 1 year high of $42.78.

Tutor Perini (NYSE:TPC) last posted its earnings results on Wednesday, May 7th. The construction company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.47. Tutor Perini had a negative net margin of 3.08% and a negative return on equity of 9.56%. The firm had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the previous year, the firm posted $0.30 earnings per share. The company’s revenue was up 18.8% on a year-over-year basis.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on TPC shares. Wall Street Zen raised shares of Tutor Perini from a “hold” rating to a “buy” rating in a research note on Thursday, May 8th. B. Riley reiterated a “buy” rating and issued a $50.00 price target (up previously from $40.00) on shares of Tutor Perini in a research note on Friday, June 6th. Finally, UBS Group boosted their price target on Tutor Perini from $40.00 to $41.00 and gave the stock a “buy” rating in a report on Friday, May 9th.

Hedge Funds Weigh In On Tutor Perini

Institutional investors and hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC grew its holdings in shares of Tutor Perini by 32.5% during the first quarter. GAMMA Investing LLC now owns 2,080 shares of the construction company’s stock worth $48,000 after purchasing an additional 510 shares during the last quarter. Aristeia Capital L.L.C. boosted its position in Tutor Perini by 4.6% during the 1st quarter. Aristeia Capital L.L.C. now owns 11,957 shares of the construction company’s stock worth $277,000 after buying an additional 530 shares during the period. Comerica Bank boosted its position in Tutor Perini by 30.7% during the 1st quarter. Comerica Bank now owns 2,423 shares of the construction company’s stock worth $56,000 after buying an additional 569 shares during the period. Commonwealth Equity Services LLC grew its holdings in Tutor Perini by 7.3% during the 4th quarter. Commonwealth Equity Services LLC now owns 10,291 shares of the construction company’s stock worth $249,000 after acquiring an additional 700 shares during the last quarter. Finally, CWM LLC increased its position in Tutor Perini by 32.8% in the 1st quarter. CWM LLC now owns 3,442 shares of the construction company’s stock valued at $80,000 after acquiring an additional 850 shares during the period. Institutional investors and hedge funds own 65.01% of the company’s stock.

Tutor Perini Company Profile

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.