Tutor Perini Co. (NYSE:TPC) Chairman Ronald N. Tutor Sells 130,478 Shares

Tutor Perini Co. (NYSE:TPC) Chairman Ronald N. Tutor sold 130,478 shares of the firm’s stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $40.93, for a total value of $5,340,464.54. Following the transaction, the chairman now owns 4,570,985 shares of the company’s stock, valued at $187,090,416.05. The trade was a 2.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Tutor Perini Price Performance

NYSE TPC opened at $41.98 on Friday. The stock has a market capitalization of $2.21 billion, a price-to-earnings ratio of -16.73 and a beta of 1.74. Tutor Perini Co. has a 1-year low of $14.50 and a 1-year high of $42.78. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.55 and a quick ratio of 1.55. The business’s fifty day moving average price is $29.98 and its 200-day moving average price is $26.43.

Tutor Perini (NYSE:TPC) last posted its quarterly earnings data on Wednesday, May 7th. The construction company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.47. The company had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Tutor Perini had a negative return on equity of 9.56% and a negative net margin of 3.08%. Tutor Perini’s revenue for the quarter was up 18.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.30 earnings per share.

Institutional Trading of Tutor Perini

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Donald Smith & CO. Inc. boosted its stake in shares of Tutor Perini by 16.8% during the 1st quarter. Donald Smith & CO. Inc. now owns 4,031,220 shares of the construction company’s stock worth $93,444,000 after acquiring an additional 580,963 shares during the last quarter. Vanguard Group Inc. raised its holdings in Tutor Perini by 4.8% in the 1st quarter. Vanguard Group Inc. now owns 2,829,370 shares of the construction company’s stock worth $65,585,000 after purchasing an additional 130,747 shares during the period. Dimensional Fund Advisors LP lifted its position in Tutor Perini by 6.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,825,350 shares of the construction company’s stock valued at $68,373,000 after purchasing an additional 170,440 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Tutor Perini by 5.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,726,545 shares of the construction company’s stock valued at $65,982,000 after purchasing an additional 148,425 shares during the period. Finally, Fred Alger Management LLC increased its position in Tutor Perini by 91.9% in the fourth quarter. Fred Alger Management LLC now owns 1,133,014 shares of the construction company’s stock worth $27,419,000 after buying an additional 542,647 shares in the last quarter. 65.01% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TPC has been the topic of several recent analyst reports. Wall Street Zen upgraded Tutor Perini from a “hold” rating to a “buy” rating in a research note on Thursday, May 8th. B. Riley reaffirmed a “buy” rating and set a $50.00 price objective (up from $40.00) on shares of Tutor Perini in a research report on Friday, June 6th. Finally, UBS Group lifted their price objective on Tutor Perini from $40.00 to $41.00 and gave the stock a “buy” rating in a report on Friday, May 9th.

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.