Tutor Perini Co. (NYSE:TPC) CEO Sells $3,840,000.00 in Stock

Tutor Perini Co. (NYSE:TPC) CEO Ronald N. Tutor sold 125,000 shares of Tutor Perini stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $30.72, for a total value of $3,840,000.00. Following the completion of the sale, the chief executive officer now owns 3,257,313 shares of the company’s stock, valued at $100,064,655.36. This trade represents a 3.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Tutor Perini Trading Down 2.4 %

NYSE TPC opened at $27.53 on Friday. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of -10.97 and a beta of 1.50. 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 one year low of $7.74 and a one year high of $34.55. The company’s 50 day moving average price is $26.58 and its 200 day moving average price is $23.15.

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

Wall Street Analysts Forecast Growth

TPC has been the subject of a number of recent analyst reports. StockNews.com downgraded shares of Tutor Perini from a “buy” rating to a “hold” rating in a report on Friday. UBS Group boosted their price objective on shares of Tutor Perini from $27.00 to $39.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, B. Riley increased their target price on Tutor Perini from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th.

Institutional Investors Weigh In On Tutor Perini

Several institutional investors and hedge funds have recently modified their holdings of TPC. Fred Alger Management LLC acquired a new position in Tutor Perini during the 3rd quarter worth approximately $16,034,000. Hennessy Advisors Inc. acquired a new position in shares of Tutor Perini during the second quarter worth $12,362,000. American Century Companies Inc. boosted its stake in shares of Tutor Perini by 59.9% in the second quarter. American Century Companies Inc. now owns 759,665 shares of the construction company’s stock valued at $16,546,000 after purchasing an additional 284,627 shares during the period. Acadian Asset Management LLC increased its stake in Tutor Perini by 84.4% during the 2nd quarter. Acadian Asset Management LLC now owns 539,336 shares of the construction company’s stock worth $11,742,000 after buying an additional 246,901 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Tutor Perini by 9.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,399,544 shares of the construction company’s stock worth $52,263,000 after buying an additional 198,348 shares in the last quarter. Hedge funds and other institutional investors own 65.01% of the company’s stock.

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.