Insider Selling: Tutor Perini Co. (NYSE:TPC) CEO Sells $1,539,000.00 in Stock

Tutor Perini Co. (NYSE:TPC) CEO Ronald N. Tutor sold 50,000 shares of the business’s stock in a transaction 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 directly owns 2,362,267 shares in the company, valued at $72,710,578.26. This represents a 2.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Tutor Perini Trading Down 2.4 %

Shares of TPC opened at $27.53 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.55 and a current ratio of 1.55. Tutor Perini Co. has a 52-week low of $7.74 and a 52-week high of $34.55. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of -10.97 and a beta of 1.50. The business’s fifty day moving average is $26.58 and its 200-day moving average is $23.15.

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

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Tutor Perini

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Fred Alger Management LLC acquired a new stake in Tutor Perini in the third quarter valued at approximately $16,034,000. Martingale Asset Management L P lifted its position in shares of Tutor Perini by 21.8% during the 3rd quarter. Martingale Asset Management L P now owns 20,806 shares of the construction company’s stock valued at $565,000 after buying an additional 3,721 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Tutor Perini by 7.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 60,331 shares of the construction company’s stock valued at $1,639,000 after buying an additional 4,070 shares in the last quarter. Brightline Capital Management LLC grew its position in shares of Tutor Perini by 5.5% in the third quarter. Brightline Capital Management LLC now owns 560,000 shares of the construction company’s stock valued at $15,210,000 after purchasing an additional 29,000 shares in the last quarter. Finally, FMR LLC increased its holdings in shares of Tutor Perini by 103.1% in the third quarter. FMR LLC now owns 4,725 shares of the construction company’s stock worth $128,000 after purchasing an additional 2,399 shares during the period. 65.01% of the stock is owned by institutional investors and hedge funds.

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.