Insider Selling: Tutor Perini Co. (NYSE:TPC) CEO Sells 125,000 Shares of Stock

Tutor Perini Co. (NYSE:TPC) CEO Ronald N. Tutor sold 125,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $30.72, for a total value of $3,840,000.00. Following the completion of the transaction, the chief executive officer now owns 3,257,313 shares of the company’s stock, valued at approximately $100,064,655.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Tutor Perini Price Performance

TPC traded down $1.46 during trading on Tuesday, hitting $29.18. 494,800 shares of the stock traded hands, compared to its average volume of 450,077. The company has a market cap of $1.53 billion, a price-to-earnings ratio of -12.19 and a beta of 1.50. The business has a 50 day moving average price of $26.21 and a 200 day moving average price of $23.00. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.55 and a quick ratio of 1.65. Tutor Perini Co. has a twelve month low of $7.22 and a twelve month high of $34.55.

Tutor Perini (NYSE:TPC) last issued its quarterly earnings data on Wednesday, November 6th. The construction company reported ($1.92) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.89) by ($0.03). The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.17 billion. Tutor Perini had a negative return on equity of 9.56% and a negative net margin of 3.08%. Tutor Perini’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.71) earnings per share. Equities research analysts forecast that Tutor Perini Co. will post -1.47 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. BNP Paribas Financial Markets lifted its position in shares of Tutor Perini by 56.6% in the first quarter. BNP Paribas Financial Markets now owns 47,614 shares of the construction company’s stock valued at $688,000 after acquiring an additional 17,204 shares in the last quarter. Quantbot Technologies LP lifted its position in Tutor Perini by 174.1% in the first quarter. Quantbot Technologies LP now owns 25,284 shares of the construction company’s stock worth $366,000 after purchasing an additional 16,061 shares during the period. Vanguard Group Inc. grew its stake in shares of Tutor Perini by 1.1% during the first quarter. Vanguard Group Inc. now owns 2,333,269 shares of the construction company’s stock valued at $33,739,000 after purchasing an additional 25,246 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in Tutor Perini by 152.0% during the first quarter. Acadian Asset Management LLC now owns 292,435 shares of the construction company’s stock worth $4,227,000 after acquiring an additional 176,398 shares in the last quarter. Finally, Donald Smith & CO. Inc. increased its position in shares of Tutor Perini by 3.9% during the 1st quarter. Donald Smith & CO. Inc. now owns 4,052,678 shares of the construction company’s stock worth $58,602,000 after purchasing an additional 152,779 shares during the last quarter. 65.01% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on TPC. UBS Group boosted their price objective on shares of Tutor Perini from $27.00 to $39.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. B. Riley raised their target price on Tutor Perini from $38.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, StockNews.com raised Tutor Perini from a “hold” rating to a “buy” rating in a research note 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.