Ronald Tutor Sells 116,856 Shares of Tutor Perini (NYSE:TPC) Stock

Tutor Perini Corporation (NYSE:TPC) Chairman Ronald Tutor sold 116,856 shares of Tutor Perini stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $64.21, for a total transaction of $7,503,323.76. Following the sale, the chairman directly owned 4,154,129 shares of the company’s stock, valued at $266,736,623.09. This represents a 2.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Tutor Perini Stock Down 1.1%

Shares of NYSE:TPC opened at $65.48 on Monday. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.32. The business’s 50 day moving average is $55.04 and its 200 day moving average is $39.78. The stock has a market cap of $3.45 billion, a P/E ratio of -25.98 and a beta of 1.88. Tutor Perini Corporation has a 52-week low of $18.33 and a 52-week high of $66.74.

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

Wall Street Analysts Forecast Growth

A number of research analysts have commented on TPC shares. B. Riley raised their target price on shares of Tutor Perini from $50.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. Zacks Research raised shares of Tutor Perini to a “strong-buy” rating in a report on Friday, August 8th. Wall Street Zen upgraded Tutor Perini from a “buy” rating to a “strong-buy” rating in a report on Monday, August 11th. Finally, UBS Group increased their target price on Tutor Perini from $59.00 to $67.00 and gave the company a “buy” rating in a research report 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. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $60.00.

Hedge Funds Weigh In On Tutor Perini

Several hedge funds and other institutional investors have recently bought and sold shares of the business. KLP Kapitalforvaltning AS boosted its holdings in shares of Tutor Perini by 3.1% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 9,900 shares of the construction company’s stock valued at $463,000 after acquiring an additional 300 shares during the last quarter. GAMMA Investing LLC lifted its position in Tutor Perini by 32.5% during the first quarter. GAMMA Investing LLC now owns 2,080 shares of the construction company’s stock valued at $48,000 after purchasing an additional 510 shares during the period. Aristeia Capital L.L.C. boosted its holdings in Tutor Perini by 4.6% in the first quarter. Aristeia Capital L.L.C. now owns 11,957 shares of the construction company’s stock valued at $277,000 after purchasing an additional 530 shares during the last quarter. Comerica Bank boosted its holdings in Tutor Perini by 30.7% in the first quarter. Comerica Bank now owns 2,423 shares of the construction company’s stock valued at $56,000 after purchasing an additional 569 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey grew its position in Tutor Perini by 6.7% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 10,176 shares of the construction company’s stock worth $476,000 after purchasing an additional 639 shares during the period. Institutional investors and hedge funds own 65.01% of the company’s stock.

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.