Tutor Perini (NYSE:TPC) Chairman Sells $4,692,000.00 in Stock

Tutor Perini Corporation (NYSE:TPC) Chairman Ronald Tutor sold 80,000 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $58.65, for a total value of $4,692,000.00. Following the transaction, the chairman directly owned 791,477 shares of the company’s stock, valued at $46,420,126.05. This trade represents a 9.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Tutor Perini Stock Performance

Shares of Tutor Perini stock traded up $0.50 during trading on Tuesday, hitting $59.02. 558,534 shares of the stock were exchanged, compared to its average volume of 682,183. Tutor Perini Corporation has a 1-year low of $18.33 and a 1-year high of $63.96. The stock has a market capitalization of $3.11 billion, a price-to-earnings ratio of -23.42 and a beta of 1.83. The company has a fifty day moving average price of $48.85 and a 200-day moving average price of $34.78. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.32.

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

Analyst Ratings Changes

TPC has been the topic of several recent analyst reports. UBS Group lifted their price target on Tutor Perini from $59.00 to $67.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. Wall Street Zen upgraded Tutor Perini from a “buy” rating to a “strong-buy” rating in a research report on Monday, August 11th. B. Riley increased their target price on shares of Tutor Perini from $50.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Finally, Zacks Research upgraded shares of Tutor Perini to a “strong-buy” rating in a research note on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $60.00.

Institutional Trading of Tutor Perini

Several institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its stake in Tutor Perini by 32.5% in the first quarter. GAMMA Investing LLC now owns 2,080 shares of the construction company’s stock valued at $48,000 after buying an additional 510 shares during the period. New Age Alpha Advisors LLC bought a new stake in Tutor Perini during the 1st quarter worth approximately $54,000. Comerica Bank lifted its stake in Tutor Perini by 30.7% during the 1st quarter. Comerica Bank now owns 2,423 shares of the construction company’s stock valued at $56,000 after acquiring an additional 569 shares in the last quarter. CWM LLC grew its position in Tutor Perini by 32.8% in the 1st quarter. CWM LLC now owns 3,442 shares of the construction company’s stock worth $80,000 after purchasing an additional 850 shares in the last quarter. Finally, AlphaQuest LLC grew its holdings in shares of Tutor Perini by 849.2% in the first quarter. AlphaQuest LLC now owns 3,436 shares of the construction company’s stock valued at $80,000 after acquiring an additional 3,074 shares in the last quarter. 65.01% of the stock is currently owned by institutional investors.

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.