Tutor Perini Co. (NYSE:TPC) Director Sells $2,717,250.00 in Stock

Tutor Perini Co. (NYSE:TPC) Director Raymond R. Oneglia sold 75,000 shares of the business’s stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $36.23, for a total value of $2,717,250.00. Following the completion of the transaction, the director now directly owns 115,470 shares in the company, valued at approximately $4,183,478.10. This represents a 39.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Tutor Perini Trading Up 1.1%

Shares of TPC opened at $36.75 on Monday. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.53. Tutor Perini Co. has a 12-month low of $14.50 and a 12-month high of $37.08. The firm has a market capitalization of $1.94 billion, a PE ratio of -14.64 and a beta of 1.62. The stock’s fifty day simple moving average is $24.25 and its 200-day simple moving average is $25.09.

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

Hedge Funds Weigh In On Tutor Perini

Several large investors have recently made changes to their positions in TPC. Donald Smith & CO. Inc. lifted its stake in shares of Tutor Perini by 16.8% during the first quarter. Donald Smith & CO. Inc. now owns 4,031,220 shares of the construction company’s stock valued at $93,444,000 after acquiring an additional 580,963 shares during the period. Boston Partners lifted its stake in shares of Tutor Perini by 1,801.4% during the fourth quarter. Boston Partners now owns 605,450 shares of the construction company’s stock valued at $14,666,000 after acquiring an additional 573,608 shares during the period. Pacer Advisors Inc. acquired a new position in shares of Tutor Perini during the first quarter valued at $13,122,000. Fred Alger Management LLC lifted its stake 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 valued at $27,419,000 after buying an additional 542,647 shares during the period. Finally, First Trust Advisors LP lifted its stake in Tutor Perini by 74.6% in the fourth quarter. First Trust Advisors LP now owns 938,478 shares of the construction company’s stock valued at $22,711,000 after buying an additional 401,117 shares during the period. Institutional investors and hedge funds own 65.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on TPC. StockNews.com raised Tutor Perini from a “hold” rating to a “buy” rating in a research note on Thursday, May 8th. UBS Group boosted their price objective on Tutor Perini from $40.00 to $41.00 and gave the stock a “buy” rating in a research note on Friday, May 9th. Finally, B. Riley raised Tutor Perini to a “strong-buy” rating in a research note on Tuesday, March 18th.

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.