Ronald N. Tutor Sells 50,000 Shares of Tutor Perini Co. (NYSE:TPC) Stock

Tutor Perini Co. (NYSE:TPC) CEO Ronald N. Tutor sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $30.78, for a total transaction of $1,539,000.00. Following the completion of the sale, the chief executive officer now owns 2,362,267 shares of the company’s stock, valued at approximately $72,710,578.26. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Tutor Perini Stock Performance

NYSE:TPC opened at $28.20 on Thursday. Tutor Perini Co. has a twelve month low of $7.74 and a twelve month high of $34.55. The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of -11.24 and a beta of 1.50. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.53. The firm’s fifty day simple moving average is $26.48 and its 200 day simple moving average is $23.12.

Tutor Perini (NYSE:TPC) last posted its earnings results on Wednesday, November 6th. The construction company reported ($1.92) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.89) by ($0.03). The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.17 billion. Tutor Perini had a negative net margin of 3.08% and a negative return on equity of 9.56%. Tutor Perini’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the business posted ($0.71) EPS. As a group, equities research analysts expect that Tutor Perini Co. will post -1.47 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. UBS Group lifted their price target on shares of Tutor Perini from $27.00 to $39.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. B. Riley boosted their price target on Tutor Perini from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, StockNews.com upgraded Tutor Perini from a “hold” rating to a “buy” rating in a report on Thursday, November 7th.

Institutional Trading of Tutor Perini

A number of hedge funds have recently made changes to their positions in TPC. Donald Smith & CO. Inc. boosted its stake in shares of Tutor Perini by 3.9% in the first quarter. Donald Smith & CO. Inc. now owns 4,052,678 shares of the construction company’s stock valued at $58,602,000 after purchasing an additional 152,779 shares during the period. Dimensional Fund Advisors LP boosted its position in Tutor Perini by 9.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,399,544 shares of the construction company’s stock valued at $52,263,000 after buying an additional 198,348 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Tutor Perini by 1.1% during the first quarter. Vanguard Group Inc. now owns 2,333,269 shares of the construction company’s stock valued at $33,739,000 after acquiring an additional 25,246 shares in the last quarter. American Century Companies Inc. increased its position in shares of Tutor Perini by 59.9% during the second quarter. American Century Companies Inc. now owns 759,665 shares of the construction company’s stock worth $16,546,000 after acquiring an additional 284,627 shares during the last quarter. Finally, Hennessy Advisors Inc. acquired a new position in shares of Tutor Perini in the second quarter worth about $12,362,000. Hedge funds and other institutional investors 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.