Insider Selling: Tutor Perini (NYSE:TPC) Chairman Sells 106,832 Shares of Stock

Tutor Perini Corporation (NYSE:TPC) Chairman Ronald Tutor sold 106,832 shares of the stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $59.06, for a total value of $6,309,497.92. Following the sale, the chairman owned 4,395,957 shares in the company, valued at $259,625,220.42. The trade was a 2.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Tutor Perini Stock Performance

NYSE:TPC opened at $59.02 on Wednesday. The stock’s fifty day moving average is $49.18 and its 200 day moving average is $35.03. The firm has a market capitalization of $3.11 billion, a PE ratio of -23.42 and a beta of 1.83. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.32 and a current ratio of 1.32. Tutor Perini Corporation has a fifty-two week low of $18.33 and a fifty-two week high of $63.96.

Tutor Perini (NYSE:TPC) last announced its quarterly earnings data on Wednesday, August 6th. The construction company reported $1.41 EPS for the quarter, beating the consensus estimate of $0.29 by $1.12. The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.27 billion. Tutor Perini had a negative return on equity of 6.41% and a negative net margin of 2.77%.Tutor Perini’s quarterly revenue was up 21.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.02 EPS.

Analysts Set New Price Targets

Several brokerages have commented on TPC. Wall Street Zen raised Tutor Perini from a “buy” rating to a “strong-buy” rating in a research report on Monday, August 11th. B. Riley upped their price objective on Tutor Perini from $50.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. UBS Group upped their price objective on Tutor Perini from $59.00 to $67.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. Finally, Zacks Research raised Tutor Perini to a “strong-buy” rating in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company’s stock. Based on data from MarketBeat.com, Tutor Perini presently has an average rating of “Buy” and a consensus target price of $60.00.

Hedge Funds Weigh In On Tutor Perini

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. State of Wyoming grew its position in shares of Tutor Perini by 317.1% during the 2nd quarter. State of Wyoming now owns 10,031 shares of the construction company’s stock worth $469,000 after buying an additional 7,626 shares in the last quarter. Caxton Associates LLP bought a new position in shares of Tutor Perini during the 2nd quarter worth $3,228,000. Tower Research Capital LLC TRC grew its position in shares of Tutor Perini by 54.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,773 shares of the construction company’s stock worth $364,000 after buying an additional 2,729 shares in the last quarter. Vident Advisory LLC purchased a new stake in shares of Tutor Perini during the 2nd quarter worth $590,000. Finally, Voleon Capital Management LP lifted its stake in shares of Tutor Perini by 189.0% during the 2nd quarter. Voleon Capital Management LP now owns 47,973 shares of the construction company’s stock worth $2,244,000 after purchasing an additional 31,372 shares during the last quarter. 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.