Insider Selling: Tutor Perini Co. (NYSE:TPC) Chairman Sells 130,478 Shares of Stock

Tutor Perini Co. (NYSE:TPC) Chairman Ronald N. Tutor sold 130,478 shares of the company’s stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $40.93, for a total value of $5,340,464.54. Following the completion of the sale, the chairman now owns 4,570,985 shares in the company, valued at $187,090,416.05. This trade represents a 2.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Tutor Perini Price Performance

Shares of TPC opened at $42.68 on Friday. The firm has a market cap of $2.25 billion, a PE ratio of -17.00 and a beta of 1.74. Tutor Perini Co. has a 52-week low of $14.50 and a 52-week high of $42.78. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.55 and a current ratio of 1.55. The business’s 50 day moving average price is $29.53 and its two-hundred day moving average price is $26.34.

Tutor Perini (NYSE:TPC) last released its quarterly earnings data on Wednesday, May 7th. The construction company reported $0.53 earnings per share (EPS) 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 company had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the prior year, the firm earned $0.30 EPS. The business’s revenue was up 18.8% on a year-over-year basis.

Hedge Funds Weigh In On Tutor Perini

A number of institutional investors have recently modified their holdings of the company. Invst LLC bought a new stake in Tutor Perini during the 1st quarter worth approximately $766,000. Strs Ohio purchased a new position in shares of Tutor Perini during the first quarter valued at approximately $596,000. Empowered Funds LLC grew its holdings in Tutor Perini by 2.1% during the first quarter. Empowered Funds LLC now owns 288,066 shares of the construction company’s stock worth $6,677,000 after buying an additional 5,819 shares in the last quarter. Aristeia Capital L.L.C. raised its position in Tutor Perini by 4.6% in the 1st quarter. Aristeia Capital L.L.C. now owns 11,957 shares of the construction company’s stock valued at $277,000 after buying an additional 530 shares during the last quarter. Finally, Voleon Capital Management LP bought a new position in Tutor Perini during the 1st quarter valued at $385,000. 65.01% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on TPC. UBS Group upped their target price on Tutor Perini from $40.00 to $41.00 and gave the company a “buy” rating in a report on Friday, May 9th. B. Riley reissued a “buy” rating and set a $50.00 target price (up previously from $40.00) on shares of Tutor Perini in a research note on Friday, June 6th. Finally, Wall Street Zen raised shares of Tutor Perini from a “hold” rating to a “buy” rating in a research report on Thursday, May 8th.

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.