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 Tutor Perini stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $30.78, for a total value of $1,539,000.00. Following the completion of the sale, the chief executive officer now owns 2,362,267 shares in the company, valued at approximately $72,710,578.26. This represents a 2.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Tutor Perini Price Performance

TPC stock opened at $27.53 on Friday. The company has a fifty day simple moving average of $26.58 and a two-hundred day simple moving average of $23.15. Tutor Perini Co. has a 52 week low of $7.74 and a 52 week high of $34.55. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $1.44 billion, a P/E ratio of -10.97 and a beta of 1.50.

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

Analysts Set New Price Targets

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

Institutional Trading of Tutor Perini

A number of large investors have recently modified their holdings of TPC. CWM LLC boosted its position in Tutor Perini by 142.8% during the second quarter. CWM LLC now owns 1,714 shares of the construction company’s stock valued at $37,000 after purchasing an additional 1,008 shares in the last quarter. Plato Investment Management Ltd acquired a new position in Tutor Perini during the 3rd quarter valued at about $52,000. Allspring Global Investments Holdings LLC acquired a new stake in Tutor Perini in the 2nd quarter worth approximately $51,000. nVerses Capital LLC acquired a new position in shares of Tutor Perini in the 2nd quarter valued at $63,000. Finally, USA Financial Formulas lifted its holdings in shares of Tutor Perini by 19.6% during the third quarter. USA Financial Formulas now owns 3,451 shares of the construction company’s stock worth $94,000 after purchasing an additional 566 shares during the period. Hedge funds and other institutional investors 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.