Ronald Tutor Sells 88,196 Shares of Tutor Perini (NYSE:TPC) Stock

Tutor Perini Corporation (NYSE:TPC) Chairman Ronald Tutor sold 88,196 shares of the company’s stock in a transaction on Monday, August 25th. The stock was sold at an average price of $59.19, for a total value of $5,220,321.24. Following the completion of the sale, the chairman directly owned 771,477 shares in the company, valued at approximately $45,663,723.63. The trade was a 10.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Tutor Perini Stock Up 0.9%

TPC traded up $0.50 during midday trading on Tuesday, reaching $59.02. The company’s stock had a trading volume of 558,534 shares, compared to its average volume of 682,183. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $3.11 billion, a price-to-earnings ratio of -23.42 and a beta of 1.83. The stock’s 50-day moving average is $48.85 and its 200-day moving average is $34.78. Tutor Perini Corporation has a 1 year low of $18.33 and a 1 year high of $63.96.

Tutor Perini (NYSE:TPC) last announced its quarterly earnings data on Wednesday, August 6th. The construction company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $1.12. Tutor Perini had a negative return on equity of 6.41% and a negative net margin of 2.77%.The business had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter in the previous year, the business earned $0.02 earnings per share. The firm’s quarterly revenue was up 21.8% compared to the same quarter last year.

Hedge Funds Weigh In On Tutor Perini

Several hedge funds and other institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC acquired a new position in shares of Tutor Perini in the 1st quarter valued at $965,000. GAMMA Investing LLC grew its stake in shares of Tutor Perini by 32.5% during the 1st 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 period. Bank of New York Mellon Corp raised its position in shares of Tutor Perini by 7.6% in the first quarter. Bank of New York Mellon Corp now owns 127,546 shares of the construction company’s stock worth $2,957,000 after acquiring an additional 9,001 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Tutor Perini by 75.1% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,363 shares of the construction company’s stock valued at $542,000 after purchasing an additional 10,018 shares during the period. Finally, Ameriprise Financial Inc. increased its holdings in Tutor Perini by 8.8% in the 4th quarter. Ameriprise Financial Inc. now owns 211,843 shares of the construction company’s stock worth $5,127,000 after acquiring an additional 17,217 shares in the last quarter. 65.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TPC has been the topic of several analyst reports. UBS Group upped their price objective on Tutor Perini from $59.00 to $67.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. Zacks Research upgraded shares of Tutor Perini to a “strong-buy” rating in a research note on Friday, August 8th. Wall Street Zen raised Tutor Perini from a “buy” rating to a “strong-buy” rating in a report on Monday, August 11th. Finally, B. Riley increased their price target on Tutor Perini from $50.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $60.00.

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.