Insider Selling: Tutor Perini Co. (NYSE:TPC) CEO Sells 50,000 Shares of Stock

Tutor Perini Co. (NYSE:TPC) CEO Ronald N. Tutor sold 50,000 shares of the business’s 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 transaction, the chief executive officer now directly owns 2,362,267 shares in the company, valued at approximately $72,710,578.26. This represents a 0.00 % 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 Stock Performance

Tutor Perini stock opened at $29.18 on Wednesday. Tutor Perini Co. has a 52-week low of $7.22 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’s fifty day moving average is $26.36 and its 200 day moving average is $23.08.

Tutor Perini (NYSE:TPC) last announced its 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 business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Tutor Perini had a negative net margin of 3.08% and a negative return on equity of 9.56%. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.71) earnings per share. As a group, equities research analysts predict that Tutor Perini Co. will post -1.47 EPS for the current fiscal year.

Institutional Investors Weigh In On Tutor Perini

Several institutional investors have recently modified their holdings of TPC. Hennessy Advisors Inc. purchased a new stake in Tutor Perini during the 2nd quarter valued at $12,362,000. American Century Companies Inc. raised 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 acquiring an additional 284,627 shares during the period. Acadian Asset Management LLC lifted its holdings in shares of Tutor Perini by 84.4% in the 2nd quarter. Acadian Asset Management LLC now owns 539,336 shares of the construction company’s stock worth $11,742,000 after acquiring an additional 246,901 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Tutor Perini by 9.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,399,544 shares of the construction company’s stock worth $52,263,000 after purchasing an additional 198,348 shares during the period. Finally, Algert Global LLC bought a new position in Tutor Perini during the 2nd quarter valued at about $4,138,000. 65.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on TPC. StockNews.com raised shares of Tutor Perini from a “hold” rating to a “buy” rating in a report on Thursday, November 7th. UBS Group increased their price objective on shares of Tutor Perini from $27.00 to $39.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, B. Riley lifted 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.

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.